The FTSE 100 security group G4S is set to replace its roster of corporate advisers and brokers this week as punishment for not buying the Danish cleaner ISS.

The chairman, Alf Duch-Pederson,has announced that he is to quit after the £5.2bn proposal, which would have made G4S the world's biggest cleaning and security group with 1.2 million employees, failed to get shareholder support in November. However, the G4S board believes that it can only regain credibility by also axing some of the advisers on that deal.