Investment Banking

Lucky strike as Deutsche bags BAT broking spot from JP Morgan

World's second-largest cigarette maker installs long-standing German adviser as US bank loses blue-chip mandate

British American Tobacco, the world's second-largest cigarette maker whose brands include Rothmans and Lucky Strike, has dropped JP Morgan as its joint corporate broker and installed long-standing adviser Deutsche Bank in its place.

The FTSE 100 cigarette maker, which has a market capitalisation of roughly £67 billion, announced the switch in a notice to the stock exchange on Friday morning, adding that the change takes immediate effect.

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