The move marks a new chapter for the company as an independently run business.

Close Brothers Asset Management has just announced its new name: TrinityBridge, after completion of the sale by its UK-listed parent Close Brothers.

Oaktree Capital Management, a US-headquartered firm, completed its purchase of Close Brothers Asset Management in March. The deal, for an equity value of up to £200 million ($253.9 million), was originally announced in September last year. It is another acquisition for Oaktree, which has been transacting in the UK wealth sector for more than 10 years.

TrinityBridge will be a standalone and independently run wealth management firm, the company said in a statement. TrinityBridge is well placed to fulfil its growth ambitions and, as part of this, the business will be investing heavily in its technology.

The name TrinityBridge was chosen to reflect the business and acknowledges the relationships that exist between clients, their investment managers and their professional advisors, the firm continued.

“We’re extremely pleased to unveil our new name, TrinityBridge, and I am hugely excited for our future as a standalone business,” Eddy Reynolds, CEO of TrinityBridge, said. “We will now accelerate our programme of investment, build our capabilities, and continue to grow.” 

The firm has teams and offices across the UK, from Chichester to Edinburgh and Bristol to London.