Close Brothers Group plc · LSE:CBG
Close Brothers — Investor Presentation (June 2021)
97 slides from Close Brothers's investor presentation, June 2021
Slide 1: Close Brothers Group plc Investor event June 2021
Close Brothers Group plc Investor event June 2021
Slide 2: Disclaimer
Disclaimer Certain statements included or incorporated by reference within this presentation may constitute “forward-looking statements” in respect of the group’s operations, performance, prospects and/or financial condition. By their nature, forward-looking statements involve a number of risks, unc
Slide 3: Agenda
Agenda 01 Strategy update Adrian Sainsbury 02 Our financial strength Mike Morgan 03 Treasury & Savings Andy Townsend 04 Commercial Neil Davies 05 Retail Rebecca McNeil 06 Property Frank Pennal Q&A – Group and Banking 07 Close Brothers Asset Management Martin Andrew 08 Winterflood Philip Yarrow Q&A –
Slide 4: Strong and experienced management team
Strong and experienced management team Your presenters today Adrian Sainsbury Mike Morgan Andy Townsend Neil Davies Group CEO Group Finance Director Group Treasurer Commercial CEO Rebecca McNeil Frank Pennal Martin Andrew Philip Yarrow Retail CEO Property CEO Asset Management CEO Winterflood CEO Mod
Slide 5: Strategic update
Strategic update 01 Adrian Sainsbury Chief Executive Officer
Slide 6: Close Brothers Group
Close Brothers Group Overview A leading UK merchant banking group Banking Commercial Property providing lending, wealth management Specialist lending £3.8bn £1.6bn services and securities trading and deposits for small businesses Loan book2 and individuals We employ over 3,700 people Member of FTSE
Slide 7: A proven and resilient model
A proven and resilient model Well positioned to continue delivering on our long-term track record of growth and profitability Our distinctive strengths Our track record Long-term growth Strong returns through the cycle Loan book (£ billion) Return on opening equity Disciplined underwriting 25% and p
Slide 8: Best in class business performance
Best in class business performance Supporting our long-term track record of growth and profitability Banking CBAM Consistent pricing discipline Strong net inflows Net interest margin Assets under Management (£ billion) and annualised net inflows 12.0% 12% 9% 10% 9% 9% 9% 6% 10.0% 20 6% 8% 8.0% 16 3%
Slide 9: A diversified portfolio of businesses
A diversified portfolio of businesses Diverse income streams supporting resilience and growth over the long term Adjusted operating profit mix (%)1 7 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 HY2021 % 48% 58% 63% 59% 67% 75% 88% 83% 83% 87% 84% 83% 86% 92% % 17% 42% 29% 38% 24
Slide 10: The foundations of our long-term success
The foundations of our long-term success Our Purpose To help the people and businesses of Britain thrive over the long term. Our Responsibility To help address the social, Our Culture economic and environmental Combines expertise, service and challenges facing our business, relationships with teamwo
Slide 11: Our Purpose
Our Purpose Our Purpose Our Our Responsibility Culture Our Strategy To help the people and Our people are the bedrock of our business Supporting our employees reflects the value we place on businesses of Britain their contribution, high levels of service, expertise and the thrive over the long term
Slide 12: Our Culture
Our Culture Our Purpose Unique culture and long-term approach are embedded throughout the organisation Our Our Responsibility Culture Our Strategy Service Expertise Relationships Teamwork Integrity Prudence Delivering excellent Attracting talent, Taking the time to A fair and open Trustworthy behavi
Slide 13: Our strategy
Our strategy Our Purpose Evolving our strategic priorities Our Our Responsibility Culture Our Strategy PROTECT I MGPRROOW VE SEU XST TA E NID N Keeping it safe Delivering disciplined growth Doing it responsibly Maintaining and Maximising Securing the enhancing the opportunities long-term future key
Slide 14: Protect: keeping it safe
Protect: keeping it safe Maintaining and enhancing the key strengths of our business model PROTECT A proven and Prudence resilient business ● Maintaining a strong funding, liquidity and capital position ● Predominantly secured loan book and strong credit quality model that continues to deliver Consi
Slide 15: Investing to take the business model forward
Investing to take the business model forward Making our experts even more valuable PROTECT Fundamental strengths of the model Our high-touch model Continuous investment to maintain the key Direct sales force across the UK strengths of our distinctive business model: ● Based on high levels of persona
Slide 16: Investing for the future
Investing for the future Multi-year investment programmes PROTECT Motor Finance transformation Asset Finance transformation Asset Management technology projects Improving the service proposition, Enhancing sales effectiveness Continued investment in technology enhancing operational efficiency throug
Slide 17: Grow: delivering disciplined growth
Grow: delivering disciplined growth Maximising the opportunities available and taking the business model forward GROW Fundamental strengths Maximising opportunities of our business model in the current environment Taking the business evidenced through Covid-19 model forward Supporting our customers
Slide 18: Grow: delivering disciplined growth
Grow: delivering disciplined growth Our long progressive history of lending in existing and new markets Net Loan Book trend Model fit assessment framework GROW (£ billion) FY21 Covid-19 +8% YTD Long-term 2020 growth growth 9.0 Moderation -0.4% 2017 – 2019 prospects +6% avg p.a. Expert, 8.0 Strong re
Slide 19: Sustain: doing it responsibly
Sustain: doing it responsibly Securing the long-term future of our business, customers and the world we operate in SUSTAIN Evolving our Our customers business to ● Recognising and responding to changes in customer behaviour ● Improving digital capabilities and customer journey sustain it for ● Maint
Slide 20: Our Responsibility
Our Responsibility Our Purpose Acting responsibly and sustainably has always been our guiding principle Our Our Responsibility Culture Our Strategy We have a How? responsibility to Promoting an inclusive culture in everything we do, and help address the supporting new ways of working and social mobi
Slide 21: Our Customers
Our Responsibility Evolving our business to sustain it for the long term ● High group wide engagement scores, with an overall Employee engagement exceeds the Some of our partners Employee engagement score of 91%1 benchmark score by 9% 2 and commitments ● Committed to creating an inclusive environmen
Slide 22: Our Environment and Communities
Our Responsibility Evolving our business to sustain it for the long term ● Supporting the ambition of the Paris Agreement Some of our partners of net zero by 2050 20% reduction in overall group scope 1&2 and commitments emissions in FY20 Our Environment ● Targeting becoming operationally net zero by
Slide 23: Our Responsibility
Our Responsibility Evolving our business to sustain it for the long term Modern Merchant Banking 23
Slide 24: Key messages
Key messages Disciplined application of our proven and resilient model 1 supports a long track record of growth and profitability Our unique culture and long-term approach are 2 embedded throughout the organisation and differentiate us Well positioned Our diversified portfolio of businesses supports
Slide 25: Our financial strength
Our financial strength 02 Mike Morgan Group Finance Director
Slide 26: Strong financial resources to deliver on our strategy
Strong financial resources to deliver on our strategy Asset quality and prudent management of financial resources Quality and diverse asset base Strong capital base to fund ● Prudently underwritten and supported by the expertise growth and support dividend of our people ● Strong CET1 capital ratio,
Slide 27: Disciplined control of BAU costs
Disciplined control of BAU costs Creating investment capacity Investing through the cycle Disciplined approach to cost Outlook by division remains a strategic priority to management ● Banking: protect our business ● Constant focus on becoming Continued cost discipline with cash more efficient invest
Slide 28: Investing for the future: transition to IRB
Investing for the future An update on our transition to IRB Compelling benefits and long-term strategic flexibility Progress to date Optimisation of capital efficiency ● Significant work and resources allocated and long-term strategic flexibility ● Initial formal application submitted to the PRA, as
Slide 29: Treasury and Savings
Treasury and Savings 03 Andy Townsend Group Treasurer
Slide 30: A diverse and prudent approach to funding and liquidity
A diverse and prudent approach to funding and liquidity Well placed to continue funding and supporting loan book growth Our distinctive strengths £12.3 billion balance sheet1 Other Assets £1.07bn ● Funding sourced from a wide range of retail Diverse funding base Market-making assets and wholesale ma
Slide 31: Established presence in all wholesale markets
Established presence in all wholesale markets Supports diverse funding base Continued access to a wide Funding approach based on the Prudent liquidity management range of wholesale markets principle of “borrow long, lend short” Liquidity Coverage Ratio Wholesale funding mix1,2 ● Spreading maturities
Slide 32: Savings business provides reach to consumer markets
Savings business provides reach to consumer markets P R O T E C T Supports diverse funding base Expansion of Balance Growth Strong customer growth products and channel and Mix Evolution and channel adoption1 G R O W December 2018 +41% £6.4bn 27% growth to Deposit Platform launched growth in Retail S
Slide 33: Developing our brand
Developing our brand P R O T E C T Acquiring new business on the merits of our brand and service Advert in The Times G R O W S U S T A I N Modern Merchant Banking 33
Slide 34: Key messages
Key messages 1 Strong funding position to support the lending business Well placed to Conservative approach, based on the principle of ‘borrow long, continue 2 lend short’ funding and Diverse funding base, with access to both wholesale and retail supporting 3 markets loan book growth 4 Continue to o
Slide 35: Commercial
Commercial 04 Neil Davies Commercial Chief Executive Officer
Slide 36: Commercial business
Commercial business Overview Funding solutions to Asset Finance and Leasing SMEs through direct £2.7bn sales force and via Commercial broker distribution Total loan book1 loan book1 channels £8.2bn £3.8bn Invoice and Speciality Finance £1.1bn Asset Finance and Leasing fast facts1 Invoice and Special
Slide 37: Commercial business: diverse range of assets
Commercial business A diverse range of assets and specialist businesses Asset Finance Transport Industrial Equipment Leasing Renewable Energy Braemar Finance Broker Finance Wholesale Fleet Vehicle Hire Germany Invoice and Speciality Finance Invoice UK Commercial Finance Ireland Novitas Loans Brewery
Slide 38: A proven and resilient model
A proven and resilient model Key differentiating factors of our high-touch model Our distinctive strengths ● Our people are experts in the assets they finance Deep expertise in ● Specialist lending across 22 different loan books diverse asset classes ● Direct sales force with local presence across t
Slide 39: Resilient and growing business
Resilient and growing business Focus on high quality returns Our track record Resilient performance Long term growth1 Consistent pricing discipline1 Commercial loan book (£ billion) Net interest margin Asset Finance Invoice Finance 9.0% 4.0 8.0% 3.5 7.0% 6.0% 3.0 5.0% 4.0% 2.5 3.0% 2.0 2.0% 1.0% 1.5
Slide 40: Supporting clients: Orthios
Supporting clients CBILS asset finance facility Client - Orthios One of the UK’s most innovative This is a really innovative time for the waste and recycling sector because waste and recycling firms we are using technological developments to push the boundaries of what we are able to reclaim and re-
Slide 41: Supporting clients: DecTek
Supporting clients CBILS asset finance facility Relationships Expertise Service Customer Situation DecTek, printers and manufacturers of £415k facility to support the growth “You always get the advice on what’s available, advertising, promotional and marketing products of the business and enter new
Slide 42: Investing to take the business model forward
Investing to take the business model forward P R O T E C T Asset Finance Transformation Significant investment programme Benefits G R O W ● Comprehensive change programme re-platforming the business – expect ● Enabled effective response to Covid-19, full delivery in 2023 with portal for CBILS quickl
Slide 43: The strength of Invoice Finance
The strength of Invoice Finance Market position of Invoice Finance Lending landscape Customer testimonials ● UK Invoice Finance is a £21bn market1 ● There are around 50 providers in the market ● As at 1 January 2019, Close Brothers Invoice Finance was the We are a privately owned We want to grow the
Slide 44: How Invoice & Speciality Finance has operated through Covid-19
How Invoice & Speciality Finance has operated throughout Covid-19 There for our customers when it matters Invoice Finance sales volumes How the business has supported throughout the Covid period1 customers during Covid-19 (£ billion) 1.2 Brewery Rentals 1.1 Helping brewers with lockdown beer waste 1
Slide 45: Growth opportunities
Growth opportunities G R O W Our track record of growth and current initiatives Our track record of growth Current initiatives and customer case study S U S T A I N Commercial Green energy Loan book (£ billion) 2021 ● Offer project finance to developers 2017 CBILS Asset ● Type of assets we fund incl
Slide 46: Key messages
Key messages Coherent and profitable business with a track record of strong loan book 1 growth, disciplined pricing and underwriting 2 Deliver our high-touch model through direct sales force and strong client relationships Well positioned to maximise Our people are experts in the diverse range of as
Slide 47: Retail
Retail 05 Rebecca McNeil Retail Chief Executive Officer
Slide 48: Retail business
Retail business Overview Loans predominantly to Motor Finance consumers and small £1.9bn businesses, through Total loan Retail loan a network of book1 book1 intermediaries £8.2bn £2.9bn Premium Finance £1.0bn Point of sale finance for the Motor Finance fast facts1 acquisition of used cars, Premium F
Slide 49: Strong track record
Strong track record Supported by stable NIM and prudent underwriting Long-term growth1 Consistent pricing discipline1 Retail loan book (£ billion) Net interest margin Premium Motor 3.0 9.0% 8.0% 2.5 7.0% 2.0 6.0% 5.0% 1.5 4.0% 1.0 3.0% 2.0% 0.5 1.0% 0.0 0.0% FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 F
Slide 50: Motor Finance: A proven and resilient model
Motor Finance: A proven and resilient model Key differentiating factors of our high-touch model Our distinctive strengths ● More than just a finance partner, with a strong value proposition Longstanding dealer relationships ● Strong dealer-to-customer NPS due to strength of overall relationship and
Slide 51: The Motor Finance landscape
The Motor Finance landscape Where we operate across our UK business Large Typical Focus of nationals Close Brothers Big Banks Motor Finance customer profile: Seasoned Professional Large ● Car is an essential asset Market share Mid size nationals ● Low / middle income shifts up and ● Good credit hist
Slide 52: Motor finance transformation
Investing to take the business model forward P R O T E C T Motor finance transformation G R O W UK New business volumes Significant Benefits (£ million) investment programme ● Enabled effective response to Covid-19, with remote lending ● £33m investment programme capability supporting dealers S U S
Slide 53: Used car finance market
Used car finance market Outperforming the market since restrictions began easing ● Used vehicles avoid initial depreciation Customer testimonial and emerging trends take time to filter through ● Portfolio less susceptible to changes in I imagine in the background Close Brothers have been absolutely
Slide 54: Growth opportunities
Growth opportunities G R O W Initiatives Different routes to market via partnerships Alternative Fuelled Vehicles S U S T A I N • Growth in number of routes available • 24% of new cars predicted to be AFVs for a consumer to acquire a vehicle in 20211 • Presents an opportunity to partner and position
Slide 55: Premium Finance: A proven and resilient model
Premium Finance: A proven and resilient model Key differentiating factors of our high-touch model Our distinctive strengths ● Average broker relationship more than 10 years, with most on minimum 3 year Long-term broker relationships contracts ● Consistently high levels of repeat business ● Experts a
Slide 56: Customer overview
Customer overview Focused on achieving great customer outcomes Personal lines Commercial lines Customers choose Premium Finance to: Clients choose Premium Finance for: ● Spread payments to aid personal budgeting ● Improved cash flow, especially beneficial during economic uncertainty ● Avoid an up fr
Slide 57: Market overview
Market overview Mature market with multiple methods for and routes to funding insurance premiums Complex market Finance options are broad ● Complex fulfilment behind simple product Customer ● Premium Finance holds a high market share of the third party ● Multiple players in value chain funded market
Slide 58: Premium Finance transformation programme
Investing to take the business model forward P R O T E C T Premium Finance transformation programme Investment in the Premium Premium Finance loan book G R O W (£ billion) Finance transformation has 1.2 supported loan book growth Five significant broker wins in an increasingly competitive during inv
Slide 59: Key messages
Key messages 1 Never compromise on achieving positive customer outcomes 2 Strong track record of loan book growth and profitability Well positioned to maximise 3 Differentiated proposition based on expertise, relationships and service opportunities and deliver disciplined 4 Stable, high margin busin
Slide 60: Property
Property 06 Frank Pennal Property Chief Executive Officer
Slide 61: Property business
Property business Overview Short-term residential Property Finance development, refurbishment and £1.2bn bridging finance to professional Property property developers Total loan book1 loan book1 £8.2bn £1.6bn Commercial Acceptances £0.4bn Property Finance fast facts1 Commercial Acceptances fast fact
Slide 62: A proven and resilient model
A proven and resilient model Focus on long-term relationships and consistent lending principles Our distinctive strengths ● Stable product suite: core products have been offered to our customers over a 40-year track record number of business cycles in key markets ● Successfully expanding regional of
Slide 63: Strong track record
Strong track record Disciplined lending through the cycle Long term growth Consistent pricing discipline Property loan book (£ billion) Net interest margin 2.0 8.0% 7.0% 1.5 6.0% 5.0% 4.0% 1.0 3.0% 2.0% 0.5 1.0% 0.0% FY16 FY17 FY18 FY19 FY20 HY21 0.0 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
Slide 64: Relationship-driven approach
Relationship-driven approach Longstanding relationships with repeat developers Customer testimonials Close Brothers have always Swift decision-making, clarity A funding partner been there for me. Their in business terms and the that’s not going passion and knowledge of ability to look at a project t
Slide 65: Property lending landscape
Property lending landscape Market dynamics Key strengths and weaknesses Development finance market “Sweet spot” remains in the sub £10m senior debt market Generally not proven through the cycle, ● Traditionally too small for big players, and returns Challengers limited capacity to lend £5m+, higher
Slide 66: Growth initiatives
Growth initiatives Developing our regional presence and working with ‘Tomorrow’s Developer’ G R O W Expanding our regional presence ● Continue to see success from regional initiative S U S T A I N ● Built up business in Northern Ireland ● Supported by the launch of Manchester bridging office in 2019
Slide 67: Key messages
Key messages 1 Prudent lending at attractive margins, providing excellent service. Loan book growth remains an output of the business model 2 Long-term growth opportunity remains given demand Well positioned to maximise 3 A continued focus on lending to high quality counterparties in the regions opp
Slide 68: Q&A Group and Banking
Q&A Group and Banking €.) Close Brothers Modern Merchant Banking
Slide 69: Close Brothers Asset Management
Close Brothers Asset Management 07 Martin Andrew Asset Management Chief Executive Officer
Slide 70: Close Brothers Asset Management
Close Brothers Asset Management Overview Advised and Top 20 UK wealth Managed manager providing Asset Advised only £5.7bn Management financial advice and £1.1bn £12.3m Total client investment management Group AOP1 assets2 to private clients in the £129m £16bn UK Managed only £9.2bn Asset Management
Slide 71: A proven and resilient model
A proven and resilient model Key differentiating factors of our model Our distinctive strengths Service, experience ● Propositions built around services and relationships and relationships ● 25 years average experience of HNW Investment Managers ● Fiduciary approach to clients ● Collegiate process w
Slide 72: Our track record
Our track record Strong growth and maximum value from client relationships Our distinctive strengths Strong net inflows Strong growth Annualised net inflows Assets under Management (£ billion) 12% 10% 9% 9% 9% 9% 6% 6% 14.8 11.7 12.6 10.4 8.0 8.0 8.9 6.9 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Q321 FY14
Slide 73: Industry themes
Industry themes Well placed to respond to challenges and opportunities 1 Long-term structural growth 2 Evolving distribution environment Well placed to Growth in global HNWI and mass affluent1 (£ trillion) Total revenue earned from Retail Investments2 7% respond to challenges 0.4 0.4 0.4 5,111 and o
Slide 74: Vertical integration
Integrated business model Vertically integrated core capabilities and multiple sources of revenue Multi-channel distribution Core CBAM CBAM 3rd party DIY capabilities advisers Bespoke IMs advisers portal Financial Face-to-face & telephone advice Vertical integration Investment Multi-asset, risk grad
Slide 75: Our people and culture
Our people and culture The foundations of our success building our client base Client-centric Combined role of Investment Long term approach investment managers process approach Client relationships Relationship Open and Client relationships managed by qualified management collegiate process practit
Slide 76: CBAM technology projects
CBAM technology projects P R O T E C T Investing in CBAM to take the business model forward Rationale Benefits G R O W ● Growth requires slick and scalable administration ● Client experience benefits ● Efficiency important given margin pressures ● Internal efficiency gains and automation of manual p
Slide 77: Growth: layers of opportunity within the business
Growth: layers of opportunity within the business G R O W Well placed to continue delivering consistent growth in AuM Strong track record Continue delivering Assets under management consistent growth in AuM (£ billion) 14.8 12.6 11.7 Acquisitions 10.4 8.9 Inorganic 8.0 8.0 6.9 growth Hiring Business
Slide 78: Our approach to ESG and Sustainability
Our approach to ESG and Sustainability G R O W ESG considerations embedded into S U S T A I N our in-house research since 2018 Ethical screening UNPRI (upon request) signatory • SRI proposition launched in 2017 • Funds incorporate ESG considerations into formal Identify Centralised material ESG ESG
Slide 79: Key messages
Key messages 1 Excellent strategic fit with the Close Brothers group 2 Track record of long-term profitability and strong returns, with ROE > 30%1 Well positioned 3 The right model to continue delivering business with significant long- term opportunities 4 Supported by strong culture and people 5 Co
Slide 80: Winterflood
Winterflood 08 Philip Yarrow Winterflood Chief Executive Officer
Slide 81: Winterflood
Winterflood Overview A leading market maker providing continuous Winterflood Trading income Other2 liquidity in all market £34.2m1 WBS Winterflood conditions Group AOP Income £129m1 Corporate Fees £98.0m1 Sales trading commissions Winterflood fast facts Focus on high quality execution services Marke
Slide 82: Winterflood's business areas
Winterflood’s business areas Diversified income streams Biggest market maker in UK, ranked number 1 by shares traded for all UK equities in 2020 Market maker Top 10 by value traded, competing with BarCap, UBS, Citi, Credit Suisse Investment Trusts, Market leader in fundraising over 2015 to 2020 acro
Slide 83: A proven and resilient model
A proven and resilient model Key differentiating factors of our model Our distinctive strengths ● Highly skilled and experienced traders and operational staff Skill and expertise ● Average length of service over 9 years ● Structured talent development process ● Innovative software developed in-house
Slide 84: Consistent performance
Consistent performance Long track record of profitability and returns Long-term profitability Strong returns through the cycle Operating profit (£m) Return on opening equity1 H1 H2 69% 21 28 18 48% 50% 37 47% 43% 13 14 13 10 15 34 28% 30% 29% 28 12 11 26% 25 8 10 23% 21% 19 20% 12 13 14 15 16% 17% 8
Slide 85: Competitive landscape
Competitive landscape Differentiated from peers by our single capacity and primary focus on trading Significant diversity within trading Market leading position1 income, composed of different Ranked 1st by shares traded (521.6bn) By Volume Traded | Dates 1/1/20 – 12/31/20 | Exchanges LN | #Brokers 1
Slide 86: Industry themes: key themes in the market
Industry themes G R O W Key themes in the market Easing Vaccine announcements Structural vs. cyclical growth Retail volumes lockdown restrictions S U S T A I N LSE principal to agent (“P2A”) trades1 Covid-19 first Brexit trade ● Significant increase in trading volumes 4,000k lockdowns deal 180k Tota
Slide 87: Growth initiatives: Winterflood Business Services
Growth initiatives: Winterflood Business Services G R O W Diversifying Winterflood’s income streams Winterflood Business Services Growth in Assets under Administration WBS clients (£ billion) ● Outsourced dealing and custody services for asset managers and platforms 5.7 ● Distinct platform and offer
Slide 88: Key messages
Key messages High-touch and disciplined approach closely aligned with Close 1 Brothers model, while diversifying the Group’s business model 2 Track record of long-term profitability and strong returns throughout the cycle High-touch 3 Highly skilled traders with a strong focus on risk management and
Slide 89: Q&A CBAM and Winterflood
Q&A CBAM and Winterflood €.) Close Brothers Modern Merchant Banking
Slide 90: Conclusion
Conclusion 09 Adrian Sainsbury Chief Executive Officer
Slide 91: Conclusion
Conclusion Trends and opportunities Well positioned to retain market position and deliver disciplined growth ● Cyclical growth in Invoice Finance as the economy recovers ● Direct sales force with local presence and specialist Commercial ● Some evidence of reduced competitor appetite knowledge, suppo
Slide 92: Conclusion
Conclusion A proven and resilient business model that continues to deliver ● Consistency and our distinctive strengths support a long track record of growth Well positioned and profitability ● We will protect, grow and sustain our business model to continue delivering for to deliver our stakeholders
Slide 93: Appendix
Appendix a Close Brothers Modern Merchant Banking
Slide 94: Our responsibility
Our responsibility Acting sustainably is fundamental to our purpose, strategy and culture Our high-touch model Measuring our progress Links to UN SDGs A target of 36% female senior Increasing our ethnicity Ensuring we are a diverse data disclosure to above managers by 2025 and inclusive employer 60%
Slide 95: Where Close Brothers Asset Management fits in the marketplace
Where Close Brothers Asset Management fits in the marketplace UK wealth management Vertically Wealth Financial advisers Private Self directed integrated firms managers and networks banks (DIY portal) Modern Merchant Banking 95
Slide 96: Speakers' biographies
Speakers’ biographies Adrian Sainsbury Mike Morgan Andy Townsend Neil Davies Group Group Treasury & Savings Commercial Appointed Group CEO Appointed to the board Joined the group in Appointed CEO Commercial in September 2020. Joined as Group Finance November 2020 as Group in July 2020. Neil joined t
Slide 97: LENDING │ DEPOSITS │ WEALTH MANAGEMENT │ SECURITIES
Close Brothers Group plc 10 Crown Place London EC2A 4FT www.closebrothers.com LENDING │ DEPOSITS │ WEALTH MANAGEMENT │ SECURITIES
Close Brothers Group — Investor Presentation (June 2021) on 6ix