New Head of High Net Worth Business Development to increase market presence.

Close Brothers today announces the recruitment of Alan Skinner as Head of Business Development for its high net worth wealth management business.  Alan was Head of UK Business Development for Credit Suisse Private Banking International and is expected to start at Close Brothers in September.

Alan will focus on building relationships with lawyers, accountants, trust companies and other selected distribution channels, which can provide access to high net worth individuals.  A qualified lawyer, Alan, has had a successful banking career and prior to Credit Suisse has worked in the wealth management businesses at UBS and Morgan Stanley.

Commenting, Martin Andrew, Head of Private Clients, said, “Alan’s appointment is an important part of our strategy to expand in the UK wealth management market.  We are realigning and investing in our businesses to take advantage of the breadth of capabilities Close can offer and the distinct position we have in the market.  Alan is highly experienced and well respected in the industry and I am delighted that he will be joining Close.”

This appointment follows the recruitment in April of 9 people from Singer and Friedlander including Tim Howe, Francis Clarke and Richard Sargent, increasing the number of private client investment professionals to over 40.

For further information:

Close Brothers
Martin Andrew, Head of Private Clients
020 7426 4064

Brunswick Group LLP
Rupert Young
020 7404 5959

Notes to Editors:

Close Private Clients, part of Close Asset Management, has £2.5bn of funds under management as at 31st May 2006.  It focuses on the management of discretionary investment portfolios for the UK private client market including individual affluent and high net worth investors, trusts, charities and small-medium sized institutions.  Offshore subsidiaries in the Channel Islands, Isle of Man, and Switzerland provide a range of services including investment management, banking and trust services for individual, corporate and institutional clients.