Close Brothers exploring Channel Islands sale

Close Brothers Group is considering offloading its Channel Islands businesses and has taken on Deloitte to explore a possible sale, according to sources.

The businesses include fund management, administration, nominee, secretarial and qualifying overseas recognised pension scheme units spread across both islands.

The group also offers personal and secured loans to Channel Islands residents. (article continues below)

In May 2009 it said it was selling its corporate finance business to Daiwa Securities SMBC.