Naguib Kheraj: the perfect politician for JPM Cazenove?

The appointment this week of an outsider, Naguib Kheraj, to run JP Morgan Cazenove shows how far the former stockbroker to the Queen has moved from its traditional roots to the investment banking mainstream. Kheraj, though, has a lot of work to do if he is to take the firm even further as the 2010 date when JP Morgan can exercise its option to take full control of the business looms.