Close Brothers, the independent investment banking group, has made its first move into the securities market for over 10 years, acquiring Seydler, a family-owned German trading house, for €23.5m ($31m).

Close Brothers owns Winterflood Securities, a UK trading firm, which it bought for £19m (€27m) in 1993. There are no plans to merge Winterflood, which is UK focused but also trades German equities, with Seydler.

Michael Herman

Close Brothers

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