Matt Roper to succeed Neil Davies as CEO of Close Brothers’ Commercial business

• Matt will officially be confirmed in post from 1 August 2023
• Neil will move to a key new Group-wide role of ‘Managing Director - New Opportunities’

We are pleased to announce that Matt Roper, CEO Invoice & Speciality Finance, has been confirmed as Neil Davies’ successor as CEO of the Banking’s Commercial business, from 1 August (subject to regulatory approval).

Matt joined Close Brothers over five years ago as Group Chief Credit Risk Officer before moving to his current role of CEO, Invoice & Speciality Finance.

Neil, who has been with Close Brothers for 15 years, joined as Director, Close Brothers Leasing, in November 2008 and became CEO for Leasing and Rentals in January 2014. He was then appointed as CEO for Close Brothers Asset Finance and Leasing from April 2016. While in that role, Neil was recognised with the prestigious accolade of CEO of the Year at the International Asset Finance Awards, before being promoted to CEO for Commercial in November 2020.

Adrian Sainsbury, CEO of Close Brothers Group, said: “Neil has built and grown our Commercial business throughout his time with Close Brothers and I have valued his expertise, innovation and professionalism over the years.

“He has made a real difference as executive sponsor for social mobility and I’m delighted Neil will be staying on with Close Brothers working in a part-time position of ‘Managing Director - New Opportunities’. In this new key role, Neil will be responsible for the development of strategic initiatives across the Bank including leading on potential future growth prospects.

“Matt has worked incredibly hard to gain a detailed understanding of all aspects of the business and has earned the respect of everyone across the Bank. His promotion is another example of our long-term succession planning, which is designed to give confidence to both our customers and our people, who value continuity and consistency.

“I’d like to thank Neil for his substantial contributions and to wish both Matt and Neil the best in their new roles.”

Neil Davies, CEO, Close Brothers Commercial: “I am honoured to have led various teams throughout my time with the business. Despite Covid, inflation, increased interest rates and economic uncertainty, our results have been fantastic; we’ve outperformed the market, and seen very substantial growth.

“Matt has excelled  as CEO of Invoice & Speciality Finance and I know he will be a great CEO of the Commercial business. The in-depth knowledge he gained as Group Chief Credit Officer will stand him in good stead and I’m looking forward to continuing to work with him.”

Matt Roper, CEO, Close Brothers Invoice & Speciality Finance: “I am delighted to have been given the opportunity to lead the Commercial business.

“The business is large and diverse, comprising almost 1,000 colleagues who support thousands of SMEs and their owners by financing almost every asset required by businesses. We help the people and businesses of Britain and Ireland thrive over the long term, and in so doing, we thrive too.

“I would like to thank Neil for his outstanding stewardship of the business. He leaves a great legacy on which to build, and I am delighted he will still be part of the Group.

“Our work makes a real difference, and I am enormously proud to be part of this team.”