Close Brothers Group Plc (CBGPY)
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UK's Close Brothers to sell Winterflood to Marex for $140 million
British lender Close Brothers said on Friday it has agreed to sell market maker Winterflood Securities to financial services company Marex Group for approximately 103.9 million pounds ($140.20 million) in cash.
Close Brothers bolsters capital ratios before landmark motor finance judgment
Close Brothers' total capital ratio rose by 80 basis points to 18% in the quarter to the end of April, as it bolstered its finances pending a ruling that may force the bank and others to pay out millions of pounds in redress to motor loan customers.
Close Brothers, Lloyds fall; traders cite UK court decision on motor finance
Shares in British lenders Close Brothers and Lloyds Banking group fell on Monday, with traders and analysts citing reports that the Treasury has been blocked from intervening into the Supreme Court review of the motor finance misselling case.
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Close Brothers Group Plc Profile
| Capital Markets Industry | Financials Sector | Mr. Michael Bartlett Morgan CEO | OTC PINK Exchange | 189062102 CUSIP |
| GB Country | 3,000 Employees | 11 Dec 2023 Last Dividend | - Last Split | - IPO Date |
Overview
Close Brothers Group plc is a distinguished merchant banking entity providing a comprehensive array of financial services to small businesses and individuals across the United Kingdom. Since its inception in 1878, the company has established a robust presence, operating through five key segments: Commercial, Retail, Property, Asset Management, and Securities. Headquartered in London, Close Brothers Group plc has committed itself to supporting the financial needs of its clients, leveraging a long history of expertise and a broad portfolio of financial solutions.
Products and Services
- Savings Products: Offers personal and business savings accounts and pension deposits, catering to the needs of individual savers and businesses looking to manage their funds efficiently.
- Asset Finance & Lending: Provides asset finance, asset-based lending, invoice discounting, and factoring, targeting businesses in need of funding solutions for growth or operational purposes.
- Commercial Vehicle Hire & Short-term Bridging Finance: Offers solutions for businesses requiring temporary transportation means or short-term financial assistance to bridge gaps in their cash flow.
- Insurance Premium Finance: Delivers financing solutions that enable individuals and companies to spread the cost of insurance premiums over time, enhancing affordability.
- Property Finance: Specializes in offering finance products tailored for property acquisitions and development, including bridging loans and other real estate-related financial services.
- Specialized Sector Financing: Provides targeted financing services to various sectors including general aviation, leisure and commercial vessels, the brewing sector through sale and rent back services, and agriculture, construction, manufacturing, and transport industries via broker finance services.
- Professional Service Sector Financing: Offers loan, hire purchase, leasing, and refinancing solutions tailored to the needs of service professionals in dental, medical, pharmacy, and veterinary sectors.
- Financial Education and Wealth Management: Renders investment management and financial planning advice, alongside self-directed services for investors wanting to manage their portfolios online and support services for financial advisers.
- Securities: Provides liquidity and flexible execution services targeted at retail stockbrokers, wealth managers, and institutional investors. Also offers market making, sales, research, corporate broking services, and dealing, custody, and settlement services for institutional, wealth management, and brokerage clients.
Contact Information
