Madden in top role at Close

David Hellier
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CLOSE Brothers Corporate Finance, the City-based corporate finance business backed by the Japanese group Daiwa Securities, has appointed a new head of UK business, Richard Madden.<br /><br />Madden takes over from Stephen Aulesbrook, who will now be exclusively chief executive of the firm's European business instead of sharing that job with the UK role.<br /><br />Richard Madden, who is currently managing director and head of the media sector team, joined the company in 2005 from Bear Stearns. He has more than twenty years corporate finance experience. Prior to Bear Stearns, he was a managing director with ING Barings.<br /><br />Aulesbrook took over the UK job in August 2007 when he succeeded Richard Grainger, who moved to Dunelmia Partners, an advisory group that focuses on giving advice to financially troubled consumer focused businesses.<br /><br />Close Brothers said that appointing a UK specific chief brought it into line with its businesses in France, Spain, Switzerland and Portugal, all of which have country-specific bosses.<br /><br />&ldquo;We have a great team, a strong shareholder and a reputation for getting difficult deals done,&rdquo; said Madden.<br /><br />Rivals wonder how successful the tie-up with Daiwa is proving, pointing to the recent departure of a number of key executives such as debt restructuring specialist and managing director Gareth Davies, who recently quit to join the investment bank boutique Greenhill.<br /><br />Aulesbrook said: &ldquo;Richard&rsquo;s appointment will.... allow me to focus on the collective growth of our European operations.&rdquo;