UK retailer WM Morrisons Supermarkets has ended a seven-year corporate broking relationship with Bank of America Merrill Lynch after Credit Suisse and Shore Capital won a 'beauty parade' for the mandate.

Morrisons, which earlier this year named former Tesco director David Potts as its new chief executive, announced the changes on Wednesday afternoon, saying that the Swiss bank and the independent investment firm had been appointed alongside existing corporate broker Jefferies Hoare Govett.