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RBS May Drop Hoare Govett as Broker, Independent on Sunday Says

Royal Bank of Scotland Plc is preparing to drop Hoare Govett as its corporate broker, after selling the unit to Jefferies Group Inc. in February, the Independent on Sunday reported, citing an unnamed banking source.

Rexam Plc has replaced Hoare Govett with Credit Suisse Group AG, the paper said, without saying where it got the information.

RBS and Jefferies Hoare Govett declined to comment, the Independent on Sunday said.

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