Strategy

Close Consolidates Offshore Operations

Stephen Harris 18 May 2005

Close Consolidates Offshore Operations

Close Brothers has consolidated its Channel Islands and Isle of Man-based wealth management businesses into one new unit, the Close Private ...

Close Brothers has consolidated its Channel Islands and Isle of Man-based wealth management businesses into one new unit, the Close Private Bank Group of Companies, in a move aimed at providing customers with more choice and better access to products and expertise. The new group has five product-orientated divisions: banking, investment management, trustee pension and custody services. Previously these constituents had been separately branded and had operational independence. The move is seen as part of an on-going strategy to deliver services which are focused on satisfying the customer's needs. The consolidation is also likely to produce significant operational and cross-fertilisation efficiencies.

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