City & Corporate: PBP grabs Close work

Close Asset Management, the investment arm of Close Brothers Group, has handed Pelham Bell Pottinger a retained PR contract after a competitive pitch.

Pelham will handle the investment management firm's corporate and financial comms in the UK.

Close AM previously retained Polhill Communications and will continue to use the agency for comms around a number of offshore products. Close AM's parent firm, Close Brothers Group, continues to use Maitland for corporate and financial PR.

This month, Close AM bought Bristol-based IFA business Chartwell Group for £17m, to boost its private client business.

Close Brothers said that, because of this continued investment, its asset management arm was 'likely to deliver a small loss for the year'.

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