Close Brothers’ trade improves

Marion Dakers
CLOSE BROTHERS has enjoyed a boost from its investment banking arm and signs of improvement in its Winterflood Securities broker dealer.

The firm’s adjusted operating profit rose 24 per cent to £166.5m in the year to the end of July. Its banking unit, which focuses on lending to smaller businesses, posted a 17 per cent jump in adjusted profit to £157.8m.

The asset management arm returned to growth after a restructuring, with assets under management up nine per cent.