September 24, 2019 / 6:22 AM / 2 months ago

Close Brothers fiscal 2019 profit falls; CEO Prebensen to step down

Sept 24 (Reuters) - Merchant bank Close Brothers Group Plc on Tuesday posted lower annual profit and said Chief Executive Officer Preben Prebensen will leave the company, as it faces a downturn in its market-maker business Winterflood.

The mid-cap firm said adjusted operating profit fell to 270.5 million pounds ($336.39 million) in the 12 months ended July 31, versus 278.6 million pounds a year earlier.

Prebensen has decided to leave after 10 years in the role and will remain with Close Brothers for the next 12 months, the company said in a separate statement after the results.

$1 = 0.8041 pounds Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich

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