Close Brothers Sells Wealth Unit to Oaktree to Bolster Capital
WEB1 day ago · Photographer: Jason Alden/Bloomberg (Jason Alden/Bloomberg) (Bloomberg) -- Close Brothers Group Plc has agreed to sell its wealth unit to Oaktree Capital Management for an equity value of as much as £200 million ($265 million) as it looks to strengthen its balance sheet amid a regulatory review of its motor finance practices.
Close Brothers to sell asset management arm to Oaktree
WEB1 day ago · Close Brothers also published its full year results this morning (September 19). It showed CBAM has total assets of £192mn and saw managed assets increase 18 per cent to £19.3bn, driven by net ...
Close Brothers divests asset management division to Oaktree in ...
WEB1 day ago · Close Brothers has agreed to sell its wealth management division for up to £200m in a bid to bolster its capital position amid costs arising from a City watchdog review into unfair car loans. The FTSE 250 merchant bank announced that the sale of Close Brothers Asset Management (CBAM) to funds managed by Oaktree Capital Management is …
Close Brothers chief executive takes medical leave of absence
WEBAt its interim results, Close Brothers saw operating pre-tax profit surge by 700% in the six months to the end of January, compared with the same period a year ago. However, the banking group also ...
Close Brothers Operating Profit Rises, Sells Wealth ... - MarketWatch
WEB1 day ago · Close Brothers said operating pretax profit jumped in fiscal 2024, mainly on a fall in one-off charges and a increase in its loan book, and that it had sold its wealth-management business for ...
Close Brothers' Announced CBAM Sale to Support Capital, …
WEB1 day ago · Thu 19 Sep, 2024 - 2:25 PM ET. Fitch Ratings-London-19 September 2024: Close Brothers Group PLC's (CBG) announced sale of its wealth-management business, Close Brothers Asset Management (CBAM), to funds managed by Oaktree Capital Management L.P. does not have an immediate impact on its ratings but highlights the increased risks surrounding its ...
Close Brothers to Sell Wealth-Management Unit to Oaktree for …
WEB1 day ago · Close Brothers said then that it expected to boost its CET1 capital by around 400 million by the end of fiscal 2025 to July. ... Dow Jones Newswires is a market-moving financial and business news ...
Oaktree to pick up Close Brothers Asset Management in £200 …
WEB1 day ago · By Claudia Preece. Oaktree Capital Management has agreed to acquire Close Brothers Asset Management (CBAM) – the wealth management arm of Close Brothers – for an equity value of up to £200 million, set to be completed in early 2025 pending customary regulatory approvals. Federico Alvarez-Demalde. Specifically, the deal value includes £172 ...
Close Brothers reports solid full-year growth - Sharecast.com
WEB1 day ago · Close Brothers Group reported a 1% increase in operating income to £944.2m in its preliminary full-year results on Thursday, ... Josh White Sharecast News . 19 Sep, 2024 08:24 19 Sep, 2024 08:04.
Close Brothers launches £400mn capital plan in response to car …
WEBMar 19, 2024 · Close Brothers has announced a £400mn plan to bolster its capital position as it prepares for the impact of a regulatory probe into motor financing deals that analysts estimate could cost the...