CBAM’s new Birmingham office will house six investment managers. Credit: Reinaldo Sture on Unsplash.

UK-based Close Brothers Asset Management (CBAM) has opened a new office in Birmingham to strengthen its advice and investment management business across the Midlands.

The full-service office, which is set to begin operations on 5 December 2022, will accommodate CBAM’s advice team and investment managers.

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CBAM managing director of Midlands and South West, Ben Staniforth, will lead the advice team. Staniforth joined the firm in June this year.

The advice team will include, altogether, more than a dozen employees comprising six financial planning advisers.

In addition, CBAM’s Birmingham office will house six investment managers, including Sally-Ann Gallier and Phil Mountford, who exited Rathbones and Investec to join the firm earlier this year.

The office will also be staffed by a number of administrative officials.

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CBAM CEO Eddy Reynolds said: “Deepening our regional presence is a key strategic priority for CBAM, and the opening of the Birmingham office follows a range of new key hires over the last year.

“We believe that our clients continue to value a personal and local connection with their advisers and investment managers, and this only becomes more evident during turbulent times of market volatility, such as the type we are all living through now.”

With a workforce of over 3,700 people, CBAM currently has operations across the UK, including London, Bristol, Chester, Manchester, Gatwick, Newcastle, Edinburgh, Glasgow and others.

In July last year, the company bought PMN Financial Management to spur growth.