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Julia Irvine 19 May 2017 05:19pm

PwC wins Close Brothers audit tender

PwC is to take over from Deloitte as auditor to merchant banking group Close Brothers subject to shareholder approval at the AGM in November

The group announced the change in auditors after “a formal and comprehensive tender process” and thanked Deloitte for its “significant contribution as the group’s auditors over the years”. 

The Big Four firm has been sole auditor to Close Brothers since 2008, but its relationship goes back for years before when it shared the audit with another firm.

It will stay in situ for the financial year ending 31 July 2017, with PwC taking over as auditor for 2018.

Close Brothers is a member of the FTSE 250. It provides lending, deposit taking, wealth management services and securities trading and employs more than 3,000 staff.

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