Our model

Our model reflects how we apply our focus on service, expertise and strong relationships to meet the evolving needs of our clients. We build leading positions within the specialist markets we operate in, which in turn generates strong profitability, allowing us to reinvest in our business.

The business model of expertise service and relationships for sme financing and wealth management

Our leadership

Our history

1878

Founded by William Brooks Close at the age of 25 with his brothers Fred and James as a London-based partnership.

1884

The business moved to Chicago.

1897

Close secured the rights to build a railway from Skagway into the Yukon.

1923

William Brooks Close dies and in his will stipulates that Close Brothers should be wound up and a new company formed to carry on the business under the same name.

1934

Arthur Martens was appointed a director, and subsequently became chairman in 1940.

1946

The Issuing Houses Association is established with Close Brothers as a founder member.

1964

Arthur Martens dies and leaves the bank in the control of his son, Fraser, and Peter Anninos, a former director of Purle Brothers.

1973

London & Western Trust completes its acquisition of the bank but the parent company is then acquired by Consolidated Gold Fields.

1977

Close Brothers Premium Finance launches as the first premium finance business in the UK.

1978

A management buy-out saw the business exit from the Consolidated Gold Fields group.

1984

Close Brothers listed on the London Stock Exchange.

Close Brothers Invoice Finance founded through the acquisition of Century Factors.

1987

Close Brothers Asset Finance set up by four former employees of British Credit Trust.

1991

Close Motor Finance established through the acquisition of Nene Credit.

1993

Winterflood Securities is acquired.

1995

Close Brothers announced its twentieth year of unbroken profit increases.

Close Fund Management started.

1996

Close Brothers acquires the Surrey Asset Finance print business.

1999

The acquisition of Rea Brothers Group plc takes assets under management to £2.5 billion and supports the launch of our high net worth client business.

2003

The purchase of Nelson Money Managers was completed.

2007

Close Brothers launches brewery rentals business.

2008

Commercial Acceptances was acquired.

Amber Credit Premium Finance and Kaupthing, Singer and Freidlander Premium Finance acquired.

2010

Close Brothers acquires Chartwell Group to support its wealth management proposition.

2011

Allenbridge Group’s retail division and Cavanagh are acquired, the latter helping to build out Close Brothers Asset Management’s adviser force to today’s 116.

2016

Loan book grows to over £6 billion, and Close Brothers maintains its unbroken 30 year record of never cutting its dividend.