Close Brothers Group Company Analysis

Close Brothers Group is a leading financial services company with a long history dating back to 1878.

The company has evolved significantly over the years, with a diverse range of businesses operating across the UK and internationally.

Close Brothers Group is listed on the London Stock Exchange, with a market capitalization of around £2.5 billion.

Its financial strength and stability have enabled the company to navigate challenging economic conditions and continue growing its business.

Close Brothers Group's financial data is primarily focused on its income statement and estimates. The company's stock, CBG Stock, is listed on the Stock Market under the Equities category.

The company's financial data is closely tied to its stock performance. This is evident from the fact that CBG Stock is listed under the Equities category.

If you're interested in learning more about Close Brothers Group's financial data, you can start by looking at its income statement and estimates, which are publicly available.

Income Statement Estimates are a crucial part of understanding a company's financial health, and for Close Brothers Group plc, their stock is listed as CBG.

The income statement is a financial statement that provides a snapshot of a company's revenues and expenses over a specific period of time, and for CBG Stock, this information is vital for investors and analysts.

Equities, such as CBG Stock, are often used to gauge a company's financial performance, and the income statement is a key metric in this assessment.

Here are some key figures to consider:

By examining the income statement, investors can gain insight into a company's ability to generate revenue and manage expenses, making informed decisions about their investment in CBG Stock.

Close Brothers Group has announced a £400m capital buffer in response to the FCA motor finance review.

This move is a clear attempt to prepare for a potentially massive compensation payout.

The FCA review is investigating motor finance commission malpractice, which has led to a huge compensation payout being prepared for claimants.

Barings Law has acted for 231 claimants against Close Brothers in the last 18 months, indicating a significant number of individuals affected by the malpractice.

The management team at Close Brothers Group is led by Mike Morgan, who has been the CEO since January 5, 2025.

Mike Morgan's leadership experience and vision have been instrumental in guiding the company's direction. He has a strong track record of success in his previous roles.

The company's Director of Finance/CFO is Fiona Mccarthy, who took on the role on December 31, 2024. The Chief Operating Officer is Simon Jacobs, who started on July 31, 2023.

Here is a brief overview of the management team:

The management team at Close Brothers Group plc is led by Mike Morgan, who has been serving as the CEO since January 5, 2025. He is 60 years old.

The company's Director of Finance/CFO is Fiona Mccarthy, who took on the role on December 31, 2024. Unfortunately, her age is not publicly disclosed.

Simon Jacobs has been the Chief Operating Officer since July 31, 2023. Like Fiona, his age is not publicly available.

Sophie Gillingham has been handling Investor Relations since July 31, 2018. Unfortunately, her age is not publicly disclosed.

Camila Sugimura has been serving as the Corporate Officer/Principal since March 31, 2019. Unfortunately, her age is not publicly disclosed.

Here is a brief overview of the management team:

The board members of Close Brothers Group plc are a diverse group of individuals with varying levels of experience and tenure.

The Chairman of the board is Mike Biggs, who has been in the role since April 30, 2017, and is 72 years old.

The board members include Mike Morgan, who joined the board on November 14, 2018, and is 60 years old.

Sally Williams and Mark Pain are also board members, having joined on December 31, 2019, and December 31, 2020, respectively.

Tesula Mohindra, Patricia Halliday, and Tracey Graham joined the board in 2021, with their exact dates of July 14, 2021, July 31, 2021, and March 21, 2022, respectively.

The most recent addition to the board is Kari Hale, who joined on June 27, 2023, and is 61 years old.

Here is a list of the board members, including their titles and ages:

Close Brothers Group is a leading financial services business in the UK, with a rich history dating back to 1878. It's been around for over 140 years.

The company operates in a number of key markets, including asset finance, wealth management, and merchant banking. These markets provide a solid foundation for the group's growth and success.

With a strong presence in the UK, Close Brothers Group is well-positioned to take advantage of opportunities in this market. Its expertise and experience have earned it a reputation as a trusted and reliable business partner.

Understanding ICT spend is crucial for businesses to allocate resources effectively. IT Client Prospector provides valuable intelligence on Close Brothers Group Plc's likely spend across technology areas, enabling us to grasp their digital strategy.

This intelligence can help businesses make informed decisions about their own technology investments. The data from IT Client Prospector can be used to identify areas of alignment or misalignment with Close Brothers Group Plc's digital strategy.

Banks are making headlines in the industry and market news. Moody's has prolonged its review for a downgrade on Close Brothers Group ratings due to a motor finance case. This is a significant development for investors and financial analysts.

On January 21, stocks firmed up as Trump took a moderate tariff stance. This move was seen as a positive sign for the market, leading to a boost in stock prices.

Moody's review is ongoing, and its outcome will have a significant impact on Close Brothers Group's financial standing. The motor finance case is a major concern for the company.

Here's a brief summary of the market news related to banks:

Close Brothers Group has recently faced a motor finance review, which has led to a dip in the company's stock. The review is a voluntary one, separate from the Financial Conduct Authority (FCA) probe.

The review has predicted "single-digit millions" in compensation for Close Brothers' motor finance customers. This is a significant amount, and it's likely to have a major impact on the company's finances.

Close Brothers has announced plans to create a £400m capital buffer to prepare for the potentially massive compensation payout. This is a wise move, as it will help the company to absorb the costs associated with the payout.

The motor finance review has also led to a downgrade risk for Close Brothers Group, with Moody's prolonging its review for a potential downgrade. This is a concern for investors, who will be watching the company's situation closely.

Here's a summary of the key points:

Close Brothers Group is facing new challenges, particularly with regards to its dividend payments. The company has scrapped its dividend, which is a significant blow to its shareholders.

The FCA's investigation into historic car financing arrangements has caused uncertainty for Close Brothers Group's wealth arm. This has led to a re-evaluation of the company's financial strategies.

Close Brothers Group has announced a £400m capital buffer to prepare for potential compensation payouts related to motor finance commission malpractice. This move demonstrates the company's proactive approach to addressing its financial challenges.

The company's leadership has undergone changes, with executives acquiring shares under an incentive plan. This could be a sign of a renewed focus on shareholder value.

Here's a brief timeline of Close Brothers Group's recent announcements:

These recent announcements highlight the company's efforts to adapt to changing circumstances and address its financial challenges.

Close Brothers is keen to snap up wealth businesses, a move that could help drive growth for the company. This is according to a quarterly trading update shared by Close Brothers.

The company is looking to make acquisitions to expand its wealth business, which suggests a shift in its strategy. Close Brothers is also planning to hire more staff to support its growth plans.

This move is likely to be seen as a response to the recent sale rumours surrounding Close Brothers' wealth business, Close Brothers Asset Management. The company is exploring a potential sale of this business, according to a report by Bloomberg.

By expanding its wealth business through acquisitions, Close Brothers aims to increase its market share and become a major player in the industry.

Hedge funds have established a significant short position against Close Brothers, a move that could have implications for the company's stock price.

More than 6% of Close Brothers' stock, worth £90m, is held on loan, according to data from S&P Market Intelligence.

This substantial short position suggests that hedge funds are betting against the company's future performance.

The loaned stock represents a significant portion of Close Brothers' total market value, indicating the extent of the hedge funds' bearish stance.