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Close Brothers Sells Wealth Unit to Oaktree
UK's Close Bros sells wealth business to Oaktree in $265 million deal
Close Brothers Group has agreed to sell its wealth management unit, Close Brothers Asset Management (CBAM), to private equity firm Oaktree Capital Management for up to 200 million pounds ($265 million).
Close Brothers Sells Wealth Unit to Oaktree to Bolster Capital
Close Brothers Group Plc has agreed to sell its wealth unit to Oaktree Capital Management for an equity value of as much as £200 million ($265 million) as it looks to strengthen its balance sheet amid a regulatory review of its motor finance practices.
Close Brothers Operating Profit Rises, Sells Wealth-Management Business for $264 Million
Close Brothers said operating pretax profit jumped in fiscal 2024, mainly on a fall in one-off charges and a increase in its loan book, and that it had sold its wealth-management business for around 200 million pounds ($264 million).
Close Brothers AM prepares to shift into its own wealth business
Close Brothers has announced the sale of its asset management business (CBAM) to Oaktree. The deal is anticipated to close in the first quarter of 2025, pending regulatory approval. Oaktree is a seasoned investor in wealth management companies in the UK.
Close Brothers flags cost of motor finance probe uncertainty as it sells wealth manager for £200m
The Financial Conduct Authority launched a probe into the historical sale of loans by UK motor finance companies earlier this year following a surge of complaints from consumers.
23h
Deutsche Bank Taps UBS’s Gasser to Run German Wealth Unit
Deutsche Bank AG hired Raffael Gasser as head of wealth management and private banking Germany, tapping another former ...
5h
Outsmart this 'silent killer' to increase your wealth, local experts says
Tapping into his three and a half decades in wealth management, Stephen Cohn of Sage Financial Group offers his thoughts on ...
1d
on MSN
Warren Buffett's death plan dodges taxes and will make his kids 'philanthropic titans,' says wealth inequality guru
Author Chuck Collins says vast fortunes are a red flag and explains why Warren Buffett's post-death planning warrants ...
Opinion
9m
Opinion
How much is enough? Let’s reevaluate the ethics of extreme wealth in America: Justice B. Hill
How much wealth is enough, asks columnist Justice B. Hill. As excessive accumulation contrasts sharply with the struggles of ...
JD Supra
11h
The Wealth Dispute Navigator: Which Profile Are You?
Over the next two decades, reports are estimating that baby boomers will pass down a combined $84.4 trillion in assets to ...
WealthManagement.com
3d
Wealth.com Scores $30M in Series A Funding
GV (formerly Google Ventures) led the funding round alongside Citi Ventures, Outpost Ventures, 53 Stations and Firebolt ...
5d
Meet the 10 biggest wealth gainers this year — who've added a combined $360 billion to their fortunes in 2024
Nvidia's Jensen Huang, Meta's Mark Zuckerberg, and Oracle's Larry Ellison are all up over $50 billion this year thanks to ...
InvestmentNews
1d
LPL welcomes $655M wealth team in Ohio
LPL Financial has strengthened its
wealth
presence yet again as veteran-led
wealth
practice from Osaic joins its network ...
7h
Brehm: Why is this much wealth leaving Minnesota?
It’s likely due to the state’s high tax rates and unfriendly business climate, along with declining quality of life in some ...
3d
Record US household wealth may increase chance of soft landing
As the Fed prepares to cut interest rates, U.S. households are sitting on their largest accumulation of net wealth in history ...
1d
Preserving Entrepreneurial Wealth: How To Avoid The 'Shirtsleeves-To-Shirtsleeves' Trap
The "shirtsleeves-to-shirtsleeves phenomenon" recognizes that wealth that is created in one generation is often lost by the ...
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