StockMarketWire.com - Merchant banking company Close Brothers said that Adrian Sainsbury had been appointed to succeed Preben Prebensen as chief executive.

Sainsbury would take up the new position, and become an executive director of the group, with effect from 21 September.

Sainsbury, who had been managing director of Close Brothers' banking division and a member of the group executive committee since November 2016, joined Close Brothers in 2013 as chief executive of the commercial division.

Preben Prebensen would formally step down as CEO and a member of the board on 21 September.

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