Close Brothers Group
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| Public (: ) | |
| Industry | Financial Services |
| Founded | 1878 |
| Founder | William Brooks Close |
| Headquarters | London, United Kingdom |
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Key people
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Strone Macpherson, Chairman Preben Prebensen, CEO Jonathan Howell, Finance Director |
| Products | Modern Merchant Banking |
| Revenue | £687.4 million (2016) |
| £228.5 million (2016) | |
| £186.5 million (2016) | |
| Website | www |
Close Brothers Group plc is a UK merchant banking group, providing lending, deposit taking, wealth management and securities trading.
The Banking division provides lending to small businesses and individuals. They also offer deposit taking services to UK businesses and individuals. In Securities, they provide trading services in the UK through Winterflood, a market-maker. Close Brothers Asset Management provides a range of financial advice, investment management and on-line investing services. Close Brothers employs over 3,000 people, principally in the UK. They are listed on the London Stock Exchange and are a member of the FTSE 250.
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. By 2016 their loan book had grown to over £6 billion.
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 has a number of specialist businesses which include:
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Wikipedia