G4S poised to replace bankers

SECURITY group G4S is set to replace its corporate advisers and brokers this week after it failed to buy Danish cleaning company ISS.

Bank of America Merrill Lynch, JP Morgan, Jefferies and Citi will be among those pitching to replace Deutsche as corporate advisor and broker and Hoare Govett as broker, with Deutsche expected to make a case for its retention.

G4S was forced to abandon its £5.2bn purchase of ISS last year after it failed to win shareholder approval. Earlier this month chairman Alf Duc-Pedersen said he would retire.