Lets talk business not brexit.8 Oct 2018 08:09
Lloyds weighs up £13bn Schroders deal. Lloyds Banking Group (LLOY) is in talks with Schroders (SDR), the asset management giant, about spinning off its £13 billion wealth management division into a joint venture owned by both businesses. Under the deal Lloyds would own 50.1% of the new company while Schroders would own the rest, according to Sky News, which first reported the negotiations. Lloyds would also take a 19.9% stake in Cazenove Capital, the wealth management firm bought by Schroders five years ago, as part of the tie-up.