Close Brothers Group plc ("Close Brothers" or "the Group") today announces that Martin Andrew has decided to step down from his role as Chief Executive of Close Brothers Asset Management ("CBAM") to pursue the next stage of his career. Martin has been with CBAM for sixteen years, the last thirteen of which as Chief Executive.

Martin will remain with the business until the spring 2022 to ensure a smooth succession. The search for a successor is well underway and an announcement will be made in due course.

Adrian Sainsbury, Group Chief Executive, said: "We take a long term view of our businesses and Martin and I have been discussing succession planning in CBAM for some time. I would like to thank him for giving us time to ensure we could plan for a smooth transition.

"Martin has made an enormous contribution to the group during his time here, and I have very much enjoyed working with him. We will miss his strategic thinking and his ideas. Martin has built a high quality business with an excellent team at CBAM and he will leave a significant and lasting legacy behind him."

Martin Andrew said: "It has been a privilege to lead CBAM and serve our clients over many years and I am proud of what the team has accomplished. I will leave with a strong fondness towards Close Brothers and I am committed to a smooth handover to my successor in due course."

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About Close Brothers

Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. We employ over 3,700 people, principally in the UK. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.