Close Brothers
 |
|
| Public (: ) | |
| Industry | Investment Banking, Financial Services |
| Founded | 1878 |
| Founder | William Brooks Close |
| Headquarters | London, United Kingdom |
|
Key people
|
Strone Macpherson, Chairman Preben Prebensen, CEO Jonathan Howell, Finance Director |
| Products | Asset management, commercial banking, investment banking, investment management, mutual funds, prime brokerage |
| Revenue | £687.4 million (2016) |
| £228.5 million (2016) | |
| £186.5 million (2016) | |
| Website | www |
Close Brothers Group plc is a British specialist financial services group based in the City of London. The company makes loans, trades securities and provides advice and investment management solutions to a wide range of clients. Close Brothers Group plc is listed on the and is a constituent of the FTSE 250 Index.
Close Brothers was founded in 1878 by William Brooks Close who initially provided farm mortgages in Iowa and financed Alaska's first railway the White Pass and Yukon Route. It was the subject of a management buy-out in 1978 and was first listed on the in 1984.
In the 1980s and 1990s the company began a phase of significant expansion through the acquisition of a large number of specialist businesses which included Winterflood Securities in 1993,Hill Samuel's Corporate Finance Division in 1996 and Rea Brothers in 1999.
In March 2008 Close Brothers acquired UK short-term and bridging lender Commercial Acceptances Group for around £31m. In May 2009 it was announced that the corporate finance business was to be acquired by Daiwa Securities SMBC, a Japanese investment banking venture, leaving Close Brothers focused on capital markets, securities trading, lending and investment management solutions.
Close Brothers Banking Division provides specialist lending to small and medium-sized businesses and individuals across a diverse range of asset classes, and also offers deposit taking services.
Close Brothers Invoice Finance (formerly known as Close Invoice Finance) is another subsidiary company of Close Brothers. It was founded in 1984, when the Close Brothers Group acquired a small, Yeovil-based factoring company; Century Factors. In 1993 Century Factors was renamed Close Invoice Finance Limited and today the division works with over 1,000 clients across the UK, Ireland and Germany. It acquired Ulster Factors, the factoring business of Ireland’s longest running invoice finance company, in May 2009 and the invoice financing loan book of GMAC Commercial Finance in January 2010.
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