Announcement • Feb 19
Close Brothers Group plc to Report First Half, 2026 Results on Mar 17, 2026 Close Brothers Group plc announced that they will report first half, 2026 results on Mar 17, 2026 Announcement • Dec 02
Marex Group plc (NasdaqGS:MRX) completed the acquisition of Winterflood Securities Ltd. from Close Brothers Group plc (LSE:CBG). Marex Group plc (NasdaqGS:MRX) agreed to acquire Winterflood Securities Ltd. from Close Brothers Group plc (LSE:CBG) for approximately £100 million on July 25, 2025. Under the terms of the Transaction, the consideration payable to Close Brothers comprises cash consideration of approximately £103.9 million payable by Marex to Close Brothers on completion, based on April 30, 2025 financials, and a pound for pound adjustment for movements in the tangible net asset value of Winterflood between April 30, 2025 and completion. The acquisition is expected to enhance Marex’s existing UK cash equities business, consistent with its strategy to bring new clients and new capabilities onto its platform and diversify earnings. Winterflood Securities Ltd suffered a GBP1.7 million operating loss in financial 2024.
The transaction is subject to obtaining approval from the Financial Conduct Authority(FCA) and Financial Industry Regulatory Authority(FINRA). A break fee is payable by Marex in the event that FCA approval for the transaction is not received. The transaction is expected to close in early 2026.
Rahul Luthra, Sam Small, Benjamin Crystal of UBS Investment Bank acted as financial advisor for Close Brothers Group plc. Slaughter and May acted as legal advisor for Close Brothers Group plc.
Marex Group plc (NasdaqGS:MRX) completed the acquisition of Winterflood Securities Ltd. from Close Brothers Group plc (LSE:CBG) on December 1, 2025. Announcement • Oct 06
Close Brothers Group plc, Annual General Meeting, Nov 20, 2025 Close Brothers Group plc, Annual General Meeting, Nov 20, 2025. Location: 10 crown place, ec2a 4ft, london United Kingdom Announcement • Oct 02
Close Brothers Group plc Provides Group Earnings Guidance for the Full Year Ending July 31, 2026 Close Brothers Group plc provided group earnings guidance for the full year ending July 31, 2026. The company expected operating loss from Group (central functions) to be £50 million in the 2026 financial year, reflecting a reduction in legal and professional fees. In the 2026 financial year, the company expected the net interest margin to be slightly lower than 7%, reflecting loan book mix impacts. Announcement • Aug 30
Close Brothers Group plc Appoints Fiona McCarthy as an Executive Member of the Board of Directors, Effective from 29 August 2025 Close Brothers Group plc announced the appointment of Fiona McCarthy as an executive member of the Board of Directors, with effect from 29 August 2025. Following Mike Morgan's appointment to Group Chief Executive, Fiona was appointed as Chief Finance Officer of the group in January 2025 and is also a member of the Group Executive Committee. She will retain these responsibilities as part of her new role as an executive director. Fiona joined the group in 2019 as the Financial Planning and Analysis Director and has over 30 years' experience in financial services across the retail, commercial, corporate and investment banking sectors. Prior to joining Close Brothers, Fiona held a number of senior finance roles at UBS and Natwest, most recently as interim Chief Finance Officer for the global investment bank of UBS. Announcement • Aug 20
Close Brothers Group plc to Report Fiscal Year 2025 Results on Sep 23, 2025 Close Brothers Group plc announced that they will report fiscal year 2025 results on Sep 23, 2025 Announcement • Jul 25
Marex Group plc (NasdaqGS:MRX) agreed to acquire Winterflood Securities Ltd. from Close Brothers Group plc (LSE:CBG) for approximately £100 million. Marex Group plc (NasdaqGS:MRX) agreed to acquire Winterflood Securities Ltd. from Close Brothers Group plc (LSE:CBG) for approximately £100 million on July 25, 2025. Under the terms of the Transaction, the consideration payable to Close Brothers comprises cash consideration of approximately £103.9 million payable by Marex to Close Brothers on completion, based on April 30, 2025 financials, and a pound for pound adjustment for movements in the tangible net asset value of Winterflood between April 30, 2025 and completion. The acquisition is expected to enhance Marex’s existing UK cash equities business, consistent with its strategy to bring new clients and new capabilities onto its platform and diversify earnings. Winterflood Securities Ltd suffered a GBP1.7 million operating loss in financial 2024.
The transaction is subject to obtaining approval from the Financial Conduct Authority(FCA) and Financial Industry Regulatory Authority(FINRA). A break fee is payable by Marex in the event that FCA approval for the transaction is not received.
The transaction is expected to close in early 2026.
Rahul Luthra, Sam Small, Benjamin Crystal of UBS Investment Bank acted as financial advisor for Close Brothers Group plc. Slaughter and May acted as legal advisor for Close Brothers Group plc. Announcement • Feb 15
Close Brothers Group plc to Report First Half, 2025 Results on Mar 18, 2025 Close Brothers Group plc announced that they will report first half, 2025 results on Mar 18, 2025 Announcement • Sep 16
Adrian Sainsbury, Group Chief Executive Takes Temporary Medical Leave of Absence from the Business of Close Brothers Group plc Close Brothers Group plc announced that Adrian Sainsbury, Group Chief Executive, has taken a temporary medical leave of absence from the business. The group has put in place robust temporary cover arrangements to ensure continuity in the delivery of the group's strategy during this period. Mike Morgan, Group Finance Director, will assume Adrian's principal responsibilities supported by the Chairman, Mike Biggs, and members of the senior management team. Announcement • Jun 26
Close Brothers Group plc Announces Board Committee Changes, Effective from 1 August 2024 Close Brothers Group plc ("Close Brothers") announced that Kari Hale has been appointed a member of the Nomination & Governance Committee with immediate effect and Patricia Halliday has been appointed a member of the Remuneration Committee with effect from 1 August 2024. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£4.11, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Banks industry in the United Kingdom. Total loss to shareholders of 69% over the past three years. Reported Earnings • Mar 20
First half 2024 earnings released: EPS: UK£0.46 (vs UK£0.056 in 1H 2023) First half 2024 results: EPS: UK£0.46 (up from UK£0.056 in 1H 2023). Revenue: UK£469.0m (up 34% from 1H 2023). Net income: UK£68.8m (up UK£60.4m from 1H 2023). Profit margin: 15% (up from 2.4% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£3.83, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Banks industry in the United Kingdom. Total loss to shareholders of 73% over the past three years. New Risk • Feb 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (124% payout ratio). Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin). Significant insider selling over the past 3 months (UK£128k sold). Announcement • Feb 16
Close Brothers Group plc Announces Peter Duffy Decides to Step Down as Director The Board of Close Brothers Group plc announced that Peter Duffy, Non-Executive Director, has decided to step down as a Director of the Company with effect from 15 February 2024, in order to focus on his other current commitments. Peter Duffy is a member of the Company's Risk, Remuneration, and Nomination and Governance Committees. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to UK£4.30, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Banks industry in the United Kingdom. Total loss to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to UK£6.62, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Banks industry in the United Kingdom. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£10.19 per share. Announcement • Dec 05
Close Brothers Group plc Appoints Phil Hooper as Chief Executive of Close Brothers' Property Finance Business Pluto Finance's Phil Hooper will become the new chief executive of Close Brothers' Property Finance business, as Frank Pennal announces his retirement.Pennal, who has been at the helm of the lender for almost two decades, will step down in January 2024. He joined the business as a director in 1997, and was promoted to chief executive in 2005. The group's property business, which also includes Commercial Acceptances and Close Brothers Bridging Finance, was a team of five with a loan book of £40m when Pennal joined. It has since grown to more than 100 employees, is currently funding 7,100 new homes and has a UK-wide loan book of £1.7bn as at 31 July. Prior to that he spent 36 years at NatWest, holding a number of senior positions, including head of real estate finance, managing the bank’s £30bn UK real estate loan book. He has been working with Close Brothers since September to ensure a smooth handover, and will be supported in the role by Close Brothers Property Finance managing director Rowland Thomas. Reported Earnings • Sep 27
Full year 2023 earnings released: EPS: UK£0.54 (vs UK£1.10 in FY 2022) Full year 2023 results: EPS: UK£0.54 (down from UK£1.10 in FY 2022). Revenue: UK£806.3m (down 11% from FY 2022). Net income: UK£81.1m (down 51% from FY 2022). Profit margin: 10% (down from 18% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Banks industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Announcement • Sep 21
Close Brothers Group plc (LSE:CBG) signed an agreement to acquire Bluestone Motor Finance (Ireland) Designated Activity Company. Close Brothers Group plc (LSE:CBG) signed an agreement to acquire Bluestone Motor Finance (Ireland) Designated Activity Company on September 20, 2023. The transaction is all cash deal. The transaction is expected to complete in Q4 2023. Announcement • Jul 24
Close Brothers Group plc to Report Fiscal Year 2023 Results on Sep 26, 2023 Close Brothers Group plc announced that they will report fiscal year 2023 results on Sep 26, 2023 Announcement • Jul 13
Close Brothers Plans to Sell Wealth Unit Close Brothers Group plc (LSE:CBG) is said to be planning to sell its wealth management unit. The British merchant bank is seeking options for its wealth-management arm, including a potential sale. The sale could fetch around GBP 300 million for the firm. Reported Earnings • Mar 16
First half 2023 earnings released: EPS: UK£0.056 (vs UK£0.64 in 1H 2022) First half 2023 results: EPS: UK£0.056 (down from UK£0.64 in 1H 2022). Revenue: UK£350.3m (down 24% from 1H 2022). Net income: UK£8.40m (down 91% from 1H 2022). Profit margin: 2.4% (down from 21% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Banks industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year. Buying Opportunity • Mar 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be UK£11.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Announcement • Jan 28
Close Brothers Group plc Announces Board Committee Changes Close Brothers Group plc announces that Peter Duffy and Tracey Graham have been appointed as members of the Nomination & Governance Committee with immediate effect. Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Tracey Graham was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 06
Upcoming dividend of UK£0.44 per share Eligible shareholders must have bought the stock before 13 October 2022. Payment date: 22 November 2022. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of British dividend payers (6.0%). Higher than average of industry peers (4.8%). Reported Earnings • Sep 28
Full year 2022 earnings released: EPS: UK£1.10 (vs UK£1.35 in FY 2021) Full year 2022 results: EPS: UK£1.10 (down from UK£1.35 in FY 2021). Revenue: UK£904.7m (down 3.0% from FY 2021). Net income: UK£165.2m (down 18% from FY 2021). Profit margin: 18% (down from 22% in FY 2021). The decrease in margin was primarily driven by lower revenue. Cost-to-income ratio: 64.0% (up from 62.0% in FY 2021). Non-performing loans: 3.90% (up from 3.76% in FY 2021). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Tracey Graham was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 24
CEO & Executive Director recently bought UK£40k worth of stock On the 17th of March, Adrian Sainsbury bought around 3k shares on-market at roughly UK£11.67 per share. This was the largest purchase by an insider in the last 3 months. This was Adrian's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 23
CEO & Executive Director recently bought UK£40k worth of stock On the 17th of March, Adrian Sainsbury bought around 3k shares on-market at roughly UK£11.67 per share. This was the largest purchase by an insider in the last 3 months. This was Adrian's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 22
CEO & Executive Director recently bought UK£40k worth of stock On the 17th of March, Adrian Sainsbury bought around 3k shares on-market at roughly UK£11.67 per share. This was the largest purchase by an insider in the last 3 months. This was Adrian's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 21
CEO & Executive Director recently bought UK£40k worth of stock On the 17th of March, Adrian Sainsbury bought around 3k shares on-market at roughly UK£11.67 per share. This was the largest purchase by an insider in the last 3 months. This was Adrian's only on-market trade for the last 12 months. Reported Earnings • Mar 17
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: UK£0.64 (up from UK£0.63 in 1H 2021). Revenue: UK£459.0m (flat on 1H 2021). Net income: UK£95.1m (flat on 1H 2021). Profit margin: 21% (in line with 1H 2021). Revenue exceeded analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 4.1%, compared to a 2.0% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 7% per year. Upcoming Dividend • Oct 07
Upcoming dividend of UK£0.42 per share Eligible shareholders must have bought the stock before 14 October 2021. Payment date: 23 November 2021. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (4.1%). Higher than average of industry peers (2.7%). Reported Earnings • Sep 29
Full year 2021 earnings released: EPS UK£1.35 (vs UK£0.73 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: UK£932.3m (up 25% from FY 2020). Net income: UK£202.1m (up 85% from FY 2020). Profit margin: 22% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Cost-to-income ratio: 62.0% (no change from 62.0% in FY 2020). Non-performing loans: 3.76% (down from 4.74% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 25
Group Head of Human Resources recently sold UK£255k worth of stock On the 22nd of March, Rebekah Etherington sold around 16k shares on-market at roughly UK£16.04 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£204k more than they bought in the last 12 months. Reported Earnings • Mar 17
First half 2021 earnings released: EPS UK£0.63 (vs UK£0.63 in 1H 2020) The company reported a mediocre first half result with weaker profit margins, although earnings were flat and revenues improved. First half 2021 results: Revenue: UK£455.8m (up 10% from 1H 2020). Net income: UK£94.8m (flat on 1H 2020). Profit margin: 21% (down from 23% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 03
New 90-day high: UK£16.35 The company is up 17% from its price of UK£13.94 on 03 December 2020. The British market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£15.34 per share. Is New 90 Day High Low • Feb 05
New 90-day high: UK£15.10 The company is up 36% from its price of UK£11.10 on 06 November 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£14.51 per share. Is New 90 Day High Low • Dec 24
New 90-day high: UK£14.11 The company is up 45% from its price of UK£9.72 on 24 September 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 39% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£13.20 per share. 