UPDATE 4-JPMorgan lands Cazenove in $1.7 bln buyout

* JPMorgan pays 535 pence/shr, values Cazenove at 2 bln stg

* Deal seals full buyout of 190-yr-old "Queen's stockbroker"

* Mayhew, others land multi-million pound windfall

* Cazenove record profits for Jan-Sept on ECM bonanza

(Adds analyst comments, share price)

By Steve Slater

LONDON, Nov 19 (Reuters) - JPMorgan Chase & Co. (JPM.N) is beefing up its European investment bank by buying the half of Cazenove it does not already own in a deal valuing the revered 190-year old UK stockbroker at 2 billion pounds ($3.4 billion).

The transaction, which will land windfalls for dozens of top London dealmakers, will see David Mayhew remain chairman of JPMorgan Cazenove and Chief Executive Naguib Kheraj preside over the integration in a short-term role.

Mayhew, who has been at Cazenove for 40 years and is regarded as the best connected banker in London, will pocket around 19 million pounds. [ID:nLJ394747]