The Board of Close Brothers Group plc announced that Adrian Sainsbury has been selected to succeed Preben Prebensen as Chief Executive. Adrian will take up the new position with effect from 21 September 2020. Adrian's appointment follows an extensive search process undertaken by the Board, considering both internal and external candidates, following the announcement in September 2019 of Preben's planned departure. Adrian has been Managing Director of Close Brothers' Banking division and a member of the group Executive Committee since November 2016, having joined Close Brothers in 2013 as Chief Executive of the Commercial division. He became a director of Close Brothers Limited, the group's principal Banking subsidiary, in August 2013. Adrian has previously held executive roles at Barclays, RBS and Bank of Ireland and was Chief Executive of ANZ Bank in Europe. Preben Prebensen will formally step down as Chief Executive on 21 September 2020.