The Close Brothers Group has reported an operating loss of £122.4m for the year ended 31 July 2025, in comparison to a £132.7m profit the previous year.

Wealth manager TrinityBridge, formerly Close Brothers Asset Management, has appointed long-standing Financial Planning head Andrew Knight as its new client relationship director for Scotland.

The sale of Close Brothers Asset Management (CBAM) to private equity firm Oaktree Capital Management for £200m has completed, with the new owner planning to create a leading, yet-to-be-named independent wealth manager.

Close Brothers group chief executive Adrian Sainsbury has stepped down from his position to focus on his health, with effect from 6 January.

Operating income rose 1% to £944.2m for merchant bank and investment provider Close Brothers for the year ending 31 July.

Close Brothers group chief executive Adrian Sainsbury has taken temporary medical leave of absence from the business, the company revealed today.