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Close Brothers' loan book growth outstrips AUM rise

Close Brothers saw assets under management rise by 4% to £9.7 billion, while its loan book surged by 8% to £5.2 billion in the five months to the end of June.

In a brief stock market announcement, the group said loan demand is particularly strong for property and motor finance and that 'a slight decline in the net interest margin in the period [was] offset by continued strong credit performance'.

Year to date, assets under management are up 7% and its loan book by 12%.

The group that positive trading conditions had been to beneficial to Winterflood, its securities arm, but did not provide any figures.

'Overall the group's outlook is unchanged and we expect to report another strong performance for the full year,' the group told the stock market.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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