Close Brothers Group PLC

Board/Management Information • Sep 22, 2020

National Storage Mechanism | Additional information

RNS Number : 6354Z

Close Brothers Group PLC

22 September 2020

Directorate change

Close Brothers Group plc (the "Company" or "Close Brothers") announces that Geoffrey Howe, Independent Non-executive Director and Senior Independent Director, has notified the Board that he will not seek re-election at the Company's Annual General Meeting to be held in November 2020 (the "AGM"). Accordingly, Geoffrey will step down from the Board at the conclusion of the AGM.

Mike Biggs, Chairman, said: "On  behalf of the Board, I would like to thank Geoffrey for his very significant contribution to Close Brothers over the past nine years. We have benefitted greatly from his wise counsel and invaluable judgment. Geoffrey leaves with our gratitude and we wish him all the best for the future."

The Board's search to identify a successor for Geoffrey is well-advanced and, subject to completion of the regulatory approval process, the Board anticipates being in a position to announce its final decision on an appointment in due course following the AGM.

The Board also announces that it has appointed Oliver Corbett, Independent Non-executive Director and Chair of the Audit Committee, to take on the additional role of Senior Independent Director on an interim basis during the period between Geoffrey stepping down from the Board at the AGM and the appointment of a permanent successor.

In accordance with section 430(2B) of the Companies Act 2006, the Company confirms that Geoffrey Howe will receive his pro-rated fee up to and including the date of the AGM at the rate set out in the Company's Annual Report & Accounts 2020.  No other remuneration payment will be made by the Company to Geoffrey after he ceases to be a Non-executive Director of the Company, nor will any payment for loss of office be made.

Enquiries

Alex Dunn	Company Secretary & Head of Legal (Corporate & Bank Retail) Close Brothers Group plc	020 3857 6057
Sophie Gillingham	Director of Investor Relations Close Brothers Group plc	020 3857 6574

About Close Brothers

Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading.  We employ over 3,500 people, principally in the UK.  Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.

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