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UPDATE 3-Schroders Plc and Lloyds Banking Group in talks over wealth management alliance [Reuters]

LLOYDS BANKING GROUP (LYG)  More Company Research Source: Reuters
US:NYSE Investor Relations: lloydsbankinggroup.com/investors
PDF Schroders Plc and Lloyds Banking Group in talks over wealth management alliance | Reuters 2 Min Read (Reuters) - Asset manager Schroders Plc ( SDR.L ) and Lloyds Banking Group ( LLOY.L ) said on Sunday they were in discussions over a wealth management alliance. The deal would be among the biggest wealth management tie- ups in recent years and would come amid widespread consolidation in the broader industry sector. Schroders spokeswoman Beth Saint confirmed the move after Sky News reported that Lloyds was to merge its 13 billion pound ($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,” Saint 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 “wi [Read more]

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