Close Brothers

Close Brothers names new chairman




Close Brothers has named Mike Biggs as its new chairman designate of the group.

The merchant banking group revealed that Mike will join the Close Brothers’ board as an independent, non-executive director immediately and become chairman of the board on 1st May 2017.

Mike will succeed Strone Macpherson, who will step down on 30th April 2017 having served as chairman since 2008.

With over 40 years of experience in the financial services industry, Mike has acted as both CEO and group finance director of Resolution PLC and was group finance director of Aviva PLC.

Mike has also has served as chairman of Direct Line Insurance Group PLC since 2012.

"I am honoured to have been appointed chairman of Close Brothers, which is a long-established, high-quality group with an enviable track record, and I look forward to overseeing the continued evolution of its successful business model over the coming years,” Mike said.

Mike has also been appointed as a member of the nomination and governance committee as well as a member of the audit, risk and remuneration committees.

The Close Brothers’ board also paid tribute to Strone, whose time as chairman has seen him successfully oversee the group’s development and execution of its strategy.

“The board would like to thank him for his unwavering commitment and very substantial contribution to the group over many years and wish him every success for the future,” a spokesperson for Close Brothers said.

Strone concluded: "[Mike] comes with a strong reputation and broad experience of the financial services industry, and I am confident he will be a great asset to the organisation."

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