Close Brothers

Close Brothers Asset Management has acquired financial planning firm Mackay Stewart & Brown.

Close Brothers has reported a strong first half of its financial year 2014/15 despite a more challenging environment for its Winterflood business.

Quarterly and annualised UK growth figures for Q4 2014 have narrowly missed expectations after the construction sector underwhelmed at the end of the year.

Winterflood chief executive Julian Palfreyman is to retire from the company at the end of July after 27 years of service.

Hasley Investment Management has relaunched under the name 8AM Global, with a restructured fund range, as former Miton manager Tom McGrath becomes a partner in the business.

Other large caps may follow Tesco in cutting dividends

UK investors back challenger banks

Steering clear of the asset gatherers

Simon Redgrove and Andrew Fay are to exit Close Brothers Asset Management, three years after it acquired their firm Cavanagh for £26m.

Former Apollo partner Tom McGrath has joined Caplain Capital to take the role of chief investment officer.