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Xeinadin acquires south Wales accountancy firm Curtis Bowden & Thomas

Feb 13, 2026 By

Acquisitive professional services firm Xeinadin has acquired south Wales accountancy firm Curtis Bowden & Thomas. The value of the deal for the firm, which has offices in Tonypandy and Bridgend, has not been disclosed.

Established in 2003, Curtis Bowden & Thomas provides a range of general accounting and taxation services to local businesses. The 22-strong team will continue to operate from their offices with the support and resources of being part of Xeinadin’s network. The firm will continue to trade as Curtis Bowden & Thomas.

Robert Lloyd, Stephen Smith, and Stephen Davies partners with Curtis Bowden & Thomas, said: “We’re excited to join Xeinadin and continue delivering the high-quality service our clients expect. South Wales faces distinctive challenges, from economic regeneration to skills shortages, and we’re confident that being part of Xeinadin will improve our ability to support local businesses. With access to a wider network of expertise and resources, we’ll be better equipped to help our clients navigate these challenges and drive sustainable growth.”

Last year Xeinadin acquired Carmarthen-based accountancy firm Clay Shaw Butler and Bridgend-based Clay Shaw Thomas.

Derry Crowley, chief executive at Xeinadin, said: “Curtis Bowden & Thomas has built a strong reputation in South Wales by providing businesses with the support they need to thrive, despite the unique economic challenges of the region. With a deep understanding of the local business environment, their expertise aligns well with Xeinadin’s commitment to supporting growth in Wales and we’re excited to welcome them to the team.”

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Shares in FTSE 250 lender Close Brothers experienced volatility during early trading on Tuesday as the first day of the motor finance hearing commenced. The bank was among the top fallers in the FTSE as markets opened, following a downgrade from City broker Peel Hunt, as reported by City AM. The broker expressed surprise at the "extent" of guidance downgrades announced by Close Brothers. The lender's shares plummeted as much as five per cent after markets opened, before rallying to over four per cent up. However, by midday, the bank had fallen back into the red. As of 1300 BST, it was two per cent down on its market-open share price. Peel Hunt predicted that Close Brothers' net interest margin (NIM) – a crucial metric used by banks that illustrates the difference between interest earned on loans and interest paid on deposits – would decrease to 6.7 per cent in the second half of 2025. This would represent a loss of 60 basis points after the lender recorded a NIM of 7.3 per cent in the first half of the year. Peel Hunt assigned a 'Hold' rating to the lender and set a target price of 327p. Close Brothers opened at 277.20p on Tuesday. Analysts also reduced the bank's earnings per share by 15 per cent for the 2025 financial year to 50.6p. This continued into 2026 with a one per cent downgrade. Analysts wrote: "We believe the shares appear optically cheap, but the upcoming Supreme Court ruling... is a key unknown." Following the Court of Appeal's ruling in October 2024 that it was unlawful for banks to pay a commission to a car dealer without the customer's informed consent, lenders including Close Brothers and First Rand are escalating the fight to the Supreme Court to get the ruling overturned. The Financial Conduct Authority (FCA) has stated that if the banks face an adverse judgement, it will confirm an industry-wide redress scheme within six weeks. This case could have significant financial implications for the lending industry, with RBC analysts projecting total compensation claims could reach £32bn.

Cash ISAs fall out of favour as 57% more people put money into Stocks and Shares ISAs

Cash ISAs are losing favour with investors, while the popularity of Stocks and Shares ISAs has soared by 57 per cent amid proposed reforms to the investment wrapper. Investengine's analysis of HMRC data shows that new Cash ISA accounts have dropped seven per cent over the past five years, despite recent government plans to overhaul the ISA system, as reported by City AM. Between 2018/19 and 2022/23, the amount held in Stocks and Shares ISAs rose 37 per cent compared to a mere nine per cent increase in cash ISA value. This has resulted in a staggering £431bn being held in Stocks and Shares ISAs, 46 per cent more than the £294bn in cash ISAs. The announcement follows Chancellor Rachel Reeves' confirmation in the Spring Statement that the government intends to reform the ISA system, with these changes expected to be unveiled in the Autumn Budget. Rumours had circulated that the cash ISA's limit would be cut from £20,000 to £4,000 ahead of last week's fiscal event, but Reeves ultimately scrapped these plans. The proposed changes to the ISA regime largely stem from the government's ambition to enhance the culture of retail investment in the UK. According to Investengine's data, there are now 3.8m retail investors with a Stocks and Shares ISA, up from 2.4m five years ago, while the number of cash ISA subscriptions has decreased from 8.5m to 7.9m. The data aligns with recent survey findings that only 31 per cent of Britons possess a cash ISA, and a mere 16 per cent hold a Stocks and Shares ISA. Yet, the survey also uncovered that 17 per cent of UK adults are unaware of the Stocks and Shares ISA, while a quarter acknowledge hearing about it but lack any understanding of it. "Although reforms have been delayed, our analysis shows stocks and shares ISAs are in fact increasing in popularity without the explicit need to make cash ISAs less appealing," commented Andrew Prosser, head of investment at Investengine.

Barclays and Natwest stock plunge is 'looming global recession' warning

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Banks face turmoil as HSBC and Barclays shares plummet amid escalating global trade war

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Gold prices dip despite safe haven status amid Trump's new tariffs and global market turmoil

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HSBC and Barclays shares tumble as Trump's new tariffs shake up FTSE 100

Shares in Britain's leading banks plummeted in early trading on Thursday following President Trump's tariff announcement, which sent shockwaves through the London stock market. Europe's largest bank, HSBC, saw its shares tumble by over 5%, with Barclays experiencing a fall of more than 4%, as reported by City AM. Standard Chartered, a member of the FTSE 100 index, suffered the brunt of the sell-off, with its share price dropping over 7%. The FTSE 100 index itself retreated beyond 1% as the markets opened, reacting to Trump's decision to impose a 10% tariff on UK imports to the USA. Dan Coatsworth, an investment analyst at AJ Bell, commented to City AM: "With so much uncertainty around the global economy as a result of Liberation Day, it seems as if fewer investors want to own banks despite many paying generous dividends which can provide comfort during rocky market conditions." He remarked that banking is inherently tied to economic fortunes, contributing to the sector's vulnerability in the worldwide market downturn: "Banking is an economically sensitive industry, which explains why shares in the sector have been caught up in the global market sell-off." Coatsworth pointed out the specific challenges for HSBC and Standard Chartered: "Trump's tariffs are particularly punishing for various parts of Asia and that puts HSBC and Standard Chartered in the firing line given their major reliance on that part of the world." He continued to illustrate the broader implications: "Businesses will be spooked by tariffs and that could lead to reduced investment, which in turns suggests less demand to borrow from banks or for advisory services on M&A activity." Coatsworth also highlighted Brexit's impact: "The same applies to Europe and the US which are key places where Barclays does business." Barclays, HSBC and Standard Chartered all have significant operations beyond the UK, including in the US and Asia. A deceleration in global trade could result in reduced revenue for these banks due to a decreased demand for their services in facilitating international partnerships through trade finance and other financial services.

Close Brothers stock soars past target price while HSBC, Barclays and Standard Chartered tumble

Shares in FTSE 250 lender Close Brothers experienced a surge on Thursday morning, contrasting with the downward trend of banking rivals HSBC, Barclays and Standard Chartered. The lender saw gains peak at ten per cent during early trading before settling around five percent, as it began to recover from recent losses, as reported by City AM. In contrast, Standard Chartered led the FTSE 100's losses, dropping nearly 10 per cent, while Barclays and HSBC fell by close to seven per cent and over six per cent respectively. Close Brothers' stock has been under pressure over the past six months due to its involvement in the car mis-selling scandal. This week, the saga moved to the Supreme Court, where Close Brothers is attempting to overturn an October ruling by the Court of Appeal. The ruling deemed it unlawful for banks to pay commission to a car dealer without the customer's informed consent. Following the verdict, Close Brothers' shares plunged almost 25 per cent and have remained unstable since. The Supreme Court's judgement could take several months, but the Financial Conduct Authority has stated it will confirm an industry-wide redress scheme within six weeks if the banks receive an unfavourable verdict. As the Supreme Court hearing commenced on Tuesday, the stock experienced fluctuations throughout the day. Peel Hunt rated the stock a 'hold' in a note issued on April 1, setting a target price of 277.20p. However, following Thursday's gains, Close Brothers surpassed the analyst's target, reaching highs of 310p. Analysts have revised their forecast for Close Brothers' full-year earnings per share, reducing it by 15% to 50.6p. Their guidance on the lender's full-year net interest margin – a key banking indicator of the difference between the rates at which a bank borrows and lends – has also been cut to 7%, with an anticipation that it will drop further to 6.7% in the second half. RBC Capital Markets adjusted their target price for Close Brothers down to 340p from 360p according to a note issued last week, yet they maintained an 'Outperform' rating. This suggests that they anticipate the company's shares to "materially outperform sector average over 12 months."

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FTSE 100 crumbles again as Trump's 'Liberation Day' tariff assault continues

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City broker downgrades St James's Place despite strong inflows

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