Close Brothers Asset Management (CBAM) has completed its sale to Oaktree Capital Management, after receiving regulatory approval for the transaction.
CBAM will continue to trade under its current name for a short period "with a new name to be announced in due course", according to the company. Similarly, CEO Eddy Reynolds and the rest of CBAM's executive committee will continue to lead the business with additional expertise provided by the team at Oaktree. Reynolds explained that Oaktree's backing "will help us maintain and build on our growth strategy and support us in our aspiration to become the leading premium wealth manager in UK for both our clients and our colleagues". He added: "Today marks the start of an exciting new...
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