Close Brothers has announced the sale of its subsidiary, Winterflood Securities, to Marex Group for £103.9 million. The deal marks a strategic move by Close Brothers to streamline its operations and focus on its core banking and asset management businesses.
Winterflood Securities, known for its expertise in market-making and execution services, will further strengthen Marex’s footprint in the securities and brokerage market. Marex, a leading diversified financial services platform, aims to leverage Winterflood’s strong client relationships and technological infrastructure to expand its trading capabilities.
Close Brothers stated that the sale proceeds will be used to enhance capital efficiency and support future growth initiatives. The transaction is expected to close in the coming months, subject to regulatory approvals.
Industry analysts believe this acquisition will bolster Marex’s position as a major player in the UK financial markets while providing Close Brothers with the flexibility to realign its strategic priorities.
