Winterflood Management Changes
Close Brothers Group plc (the "Group" or "Close Brothers") today announces that Julian Palfreyman will retire from his position as Chief Executive of Winterflood, its market making division, at the end of the current financial year, after 27 years with the business.
He will be succeeded as Chief Executive by Philip Yarrow, who will also join Close Brothers' Executive Committee. Philip has been Head of Electronic Trading at Winterflood since 2000 and a member of the Winterflood Board since 2002, and has played a key role in developing Winterflood's liquidity platform and electronic trading capabilities.
Julian has been part of the Winterflood team since its inception in 1988, and chief executive since 2008.
Preben Prebensen, Chief Executive of Close Brothers, said "I would like to thank Julian for his tremendous contribution to the business over many years. With commitment and consistent leadership he has developed the business and ensured it has traded successfully in all market conditions. I wish him all the best for the future.
"At the same time I am delighted to congratulate Philip on his appointment. Philip has been a key member of the Winterflood team for the last 14 years and is exceptionally well placed to ensure the continued success of the business, building on its unique culture and proven business model."
Enquiries
Sophie Gillingham Close Brothers Group plc 020 7655 3844
Peter Ogden Maitland 020 7379 5151
About Close Brothers
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading.
Established in 1878, we believe our traditional merchant banking values, based on service and integrity, continue to be relevant today. We define our approach to business as "Modern Merchant banking" - values that are embedded in our culture and that underpin everything we do.
Today, Close Brothers Group plc employs 2,800 people, principally in the UK. We are listed on the London Stock Exchange and are a member of the FTSE 250.
About Winterflood Securities
Winterflood is the leading UK market maker providing liquidity and flexible execution services to retail brokers, asset managers and institutional investors.
Winterflood is a wholly-owned subsidiary of Close Brothers Group plc.
