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Finance

UK's Close Brothers names new chair as Biggs nears end of nine year term

Published by Global Banking & Finance Review

Posted on July 31, 2026

1 min read

· Last updated: July 31, 2026

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Finance Banking leadership

Close Brothers Names Mark Pain as New Chair as Mike Biggs Steps Down

Leadership Transition at Close Brothers

Mike Biggs to Step Down After Nine Years

July 31 (Reuters) - Close brothers on Friday said chair Mike Biggs will step down in November after completing this nine year tenure at the British specialist lender and named senior independent director Mark Pain as his successor.

Mark Pain Appointed as Successor

(Reporting by Prerna Bedi in Bengaluru; Editing by Nivedita Bhattacharjee)

Key Takeaways

  • Mike Biggs to step down as Chair in November, concluding his tenure since May 2017 (nine years) (closebrothers.com)
  • Mark Pain, appointed Senior Independent Director in January 2021 with extensive finance and risk experience, will succeed him (closebrothers.com)
  • Close Brothers continues to deliver stable performance—Q3 loan book up 1% to £9.3bn with solid margins and cost-saving progress (investegate.co.uk)

References

Frequently Asked Questions

Who is the new chair of Close Brothers?
Mark Pain has been named as the new chair of Close Brothers.
When will Mike Biggs step down as chair of Close Brothers?
Mike Biggs will step down in November after completing his nine-year tenure.
Who did Mark Pain succeed as chair of Close Brothers?
Mark Pain is succeeding Mike Biggs as chair of Close Brothers.
What is Close Brothers?
Close Brothers is a British specialist lender.

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