Close Bros sells offshore arm

first_img Show Comments ▼ Close Bros sells offshore arm Share Thursday 10 March 2011 7:39 pm Close Brothers Group is selling its trust, fund administration, asset management and banking business in Jersey, Guernsey and the Isle of Man to Kleinwort Benson Channel Islands Holdings for £29.1m in cash. The group said the sale, which is subject to regulatory approval, would further streamline its asset management division and was consistent with its strategy to focus on its core businesses. Proceeds will be reinvested in Close Brothers’ other businesses. The sale is expected to be completed by the end of the current financial year. KCS-content whatsapp whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULLlast_img read more