Preben Prebensen is stepping down as CEO of Close Brothers Group PLC.
The U.K.-based merchant banking group said its board will look at internal and external candidates as it begins a "thorough" search for Prebensen's replacement.
Prebensen, who has been at the helm of the group for 10 years, will remain with the firm for the next 12 months to ensure a smooth handover, according to a Sept. 24 statement.
Separately, Close Brothers Group reported profit attributable to shareholders of £201.6 million for the year ended July 31, down from £202.3 million a year earlier. EPS from continuing and discontinued operations amounted to 133.2 pence, compared to the year-ago 133.8 pence.
The board proposed a final dividend of 44.0 pence per share, up from the year-ago 42.0 pence per share, resulting in a 5% increase in full year dividend per share of 66.0 pence.
The final dividend will be paid Nov. 26 to shareholders on the register Oct. 11.
