Close Brothers Group PLC - London-based merchant bank - Chief Executive Adrian Sainsbury has taken a ‘temporary medical leave of absence’. Company reassures that it has ‘robust temporary cover arrangements’ in place to ‘ensure continuity in the delivery of the group’s strategy during this period’. Finance Director Mike Morgan assumes Sainsbury’s temporary responsibilities, supported by the senior management and by Chair Mike Biggs. Morgan will host Close Brothers’ full-year results announcement which ‘will proceed as planned’ on Thursday. Sainsbury has held the CEO role since late September 2020, having previously been managing director of the firm’s Banking division.

Current stock price: 521.98 pence, down 3.1% on Monday morning in London

12-month change: down 37%

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