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Close Brothers Group PLC on Tuesday reported that Group Finance Director Mike Morgan will succeed Adrian Sainsbury as chief executive officer, effective from Monday. The London-based financial services provider said Sainsbury has stepped down to continue recuperating after a stretch of medical leave. Morgan’s permanent appointment, subject to regulatory approval, follows a run as interim CEO. Morgan joined the company in 2010 as chief financial officer, and has served as group finance director since 2018. Prior to this, he chaired the Financial Services Faculty Board for the Institute of Chartered Accountants in England and Wales. Morgan previously worked as finance director of wealth management at the Royal Bank of Scotland PLC. Chair Mike Biggs said of Morgan: ‘He brings deep knowledge of the organisation and his appointment will ensure continuity in the leadership of the group and delivery of our strategy.’ Close Brothers shares were down 2.2% at 227.87 pence each on Tuesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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