UK investment banker
Close Brothers Group is a UK merchant banking group that offers lending, deposit taking, wealth management and securities trading services. Close Brothers Asset Management provides a range of financial advice, investment management and on-line investing services. The banking division provides lending to small businesses and individuals. It also offers deposit taking services to UK businesses and individuals. In securities, it provides trading services in the UK through its Winterflood subsidiary. The company was established in 1878 and employs more than 3,000 people, principally in the UK, and is listed on the London Stock Exchange.
Hasley Investment Management has relaunched under the name 8AM Global, with a restructured fund range, as former Miton manager Tom McGrath becomes a partner in the business.
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Steering clear of the asset gatherers
Simon Redgrove and Andrew Fay are to exit Close Brothers Asset Management, three years after it acquired their firm Cavanagh for £26m.
Former Apollo partner Tom McGrath has joined Caplain Capital to take the role of chief investment officer.
The pace of the economic recovery in the UK has taken economists by surprise in the last year, prompting a number of upwards revisions for GDP growth.
Wealth management firms are making final preparations for the introduction of US tax regime FATCA as the 5 May registration deadline approaches.
Close Brothers has reported rising profits for the six months to January, with its broker arm Winterflood especially benefiting from improved trading conditions.
THE BIG QUESTION
THE BIG QUESTION
Close Brothers Asset Management has launched a new clean pricing structure on its self-directed platform, which will come in to operation on 10 March.
Close Brothers Asset Management investment director Riitta Hujanen is looking to US tech companies to continue the strong run they experienced throughout 2013.
Close Brothers saw its assets under management creep higher in the five months to 31 December 2013, while broker arm Winterflood saw performance improve.
Financial research group Defaqto has appointed former adviser network director Frank Potaczek to head up its insight and consulting wing.
Close Brothers' asset management arm returned to profitability over the full year to 31 July following a restructure.
Deryck Noble-Nesbitt has left Close Brothers Asset Management as the firm winds up his Special Situations fund.
Royal London Asset Management (RLAM)'s Martin Cholwill has upped his stake in Brewin Dolphin as he backs three wealth managers to survive the post-RDR world.
Close Brothers has reported positive net flows into its asset management division, with assets under management up 10% year to date.
Close Brothers has suspended redemptions on Deryck Noble-Nesbitt's Special Situations fund ahead of an expected wind-up of the portfolio in August this year.
Chris Bailey, the manager of Close Brothers Asset Management's Growth and Conservative funds, has stepped down from the group.