Close Brothers CEO Sainsbury takes temporary medical leave

Close Brothers said on Monday that chief executive Adrian Sainsbury has taken a temporary medical leave of absence from the business.

The merchant bank said it has put in place "robust" temporary cover arrangements to ensure continuity in the delivery of its strategy.

Group finance director Mike Morgan will assume Sainsbury’s principal responsibilities, supported by chairman Mike Biggs and members of the senior management team.

The scheduled full-year results announcement will go ahead as planned on Thursday 19 September, Close Brothers said, hosted by Mike Morgan.

"A further update will be provided in due course," it added.