Buying still an option for Close

FINANCIAL services firm Close Brothers yesterday hinted its buying spree might not be over yet in a bid to boost its stagnant assets under management (AUM).

The firm said AUM at its investment management arm were flat at £8.2bn.

Close Brothers recently bought financial adviser Cavanagh, although said its financial performance had left it “well positioned to support future growth opportunities”.

The firm’s banking division offset the weak AUM performance, seeing a four per cent increase in its loan book to £3.3bn.