[miningmx.com] – THE departure of high-powered mining bankers at JP Morgan Cazenove is thought to be behind an improvement in the group’s figures, according to Financial News.
The departure of mining banker, Ian Hannam among others was behind a £70m reduction in administrative expenses at the UK group in its 2012 figures in which it posted net profits of £66.7m in 2012, up from £42.6m in 2011, said Financial News.
Over the same period, administrative expenses fell from £202.2m to £133.8m, the publication said.
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