Close Brothers' asset management arm returned to profitability over the full year to 31 July following a restructure.
Deryck Noble-Nesbitt has left Close Brothers Asset Management as the firm winds up his Special Situations fund.
Royal London Asset Management (RLAM)'s Martin Cholwill has upped his stake in Brewin Dolphin as he backs three wealth managers to survive the post-RDR world.
Close Brothers has reported positive net flows into its asset management division, with assets under management up 10% year to date.
Close Brothers has suspended redemptions on Deryck Noble-Nesbitt's Special Situations fund ahead of an expected wind-up of the portfolio in August this year.
Chris Bailey, the manager of Close Brothers Asset Management's Growth and Conservative funds, has stepped down from the group.
Chris Bailey, head of direct global investment at Close Brothers Asset Management, urges investors to look again at Japan as a guide to investing closer to home.
The asset management division of Close Brothers, comprising both advised and managed solutions for clients, turned a profit in the six months to February thanks partly to a 6% increase in overall assets under management.