AMWatch

Lloyds, Schroders wealth talks keep the big prize in suspense

While Britain's Lloyds and Schroders discuss cooperation in wealth management, it's still unclear, if they'll secure management of the assets of Lloyds-owned Scottish Widows.

Lloyds Banking Group Plc and Schroders Plc said they’re considering working together in managing wealth, but it remains to be seen whether the investment manager will win the big prize: a 109 billion-pound (EUR 142 billion) portfolio of the lender’s assets.

Both companies said they are in talks “with a view to working closely together in parts of the wealth sector,” after Sky News reported that the two are considering a joint venture.

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