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UPDATE 2-Schroders and Lloyds in talks on working together in wealth sector [Reuters]

Lloyds Banking Group Plc ADS (LYG)  More Company Research Source: Reuters
US:NYSE Investor Relations: lloydsbankinggroup.com/investors
PDF UPDATE 2-Schroders and Lloyds in talks on working together in wealth sector | Reuters 2 Min Read (Adds Lloyds confirmation, background) Oct 7 (Reuters) - Asset manager Schroders Plc and Lloyds Banking Group are in discussions to work together in the wealth sector, the two British companies said. A Schroders spokeswoman disclosed the move after Sky news reported Lloyds was to merge its 13 billion pounds ($17 billion) wealth management arm into a new joint venture with Schroders. “Schroders confirms that it is in discussions with Lloyds Banking Group plc with a view to working closely together in parts of the wealth sector,” she said in an email to Reuters, adding there was “no certainty that these discussions will lead to any formal arrangement being entered into.” Lloyds Banking Group issued a similar statement, saying any further announcement “will be made at the appropriate time.” Sky News reported that the deal would see Lloyds owning 50.1 percent? of the new joint venture with Sch [Read more]

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