Lloyds awards 30 billion pound investment contract to BlackRock [Reuters (UK)]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Reuters
Lloyds awards 30 billion pound investment contract to BlackRock | Reuters 3 Min Read LONDON (Reuters) - Lloyds Banking Group ( LLOY.L ) has awarded BlackRock ( BLK.N ) a 30 billion pound ($40 billion) slice of one of Europe’s biggest investment contracts to be invested using the U.S. company’s various index strategies. The award to the world’s biggest asset manager follows a high-profile bidding competition kick-started early this year after Lloyds said it was yanking 109 billion pounds in assets from current manager Standard Life Aberdeen ( SLA.L ). That surprise move followed the 11 billion pound merger of original manager Aberdeen Asset Management and insurer Standard Life, which Lloyds said made the combined company a material competitor - a charge SLA is currently fighting. Lloyds on Friday said that it would also look to agree a strategic partnership with BlackRock to collaborate in alternative asset classes, risk management and investment technology. “BlackRock has been s
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LYG
Sec Filings
- 5/10/24 - Form 6-K
- 5/9/24 - Form 6-K
- 5/8/24 - Form 6-K
- LYG's page on the SEC website