Close Brothers Group
From Wikipedia, the free encyclopedia
Close Brothers Group plc is a British bank based in the City of London. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Close Brothers Group is one of only a few smaller British banks which have not been taken over by an overseas bank or one of the major British clearing banks. It was founded in 1878 and offers a range of financial services across the areas of asset management, investment banking, market making and merchant banking, delivered by over 50 independently organised subsidiary companies.
Close Brothers is also the trading name of the bank's investment banking business which offers advisory services to corporate and institutional clients in four areas: mergers and acquisitions; structuring and raising debt; special situations; and IPO advisory. The firm has a particularly strong reputation in "middle market" transactions (with values up to €500m) where it is one of the most active advisers in Europe on the basis of announced deals. Its special situations team is also highly regarded, having been engaged on high profile financial restructurings such as British Energy and Parmalat.
Close Brothers has expanded its investment banking business from the UK into France, Germany, Spain and Italy and operates further afield through a series of exclusive alliances with investment banks in other countries, including Harris Williams in the USA.
Close Brothers Group has total assets of £4.5 billion at 31 July 2005 and made a profit before tax of £108.6 million for the year to that date.
