Schroders Says in Talks With Lloyds on Wealth-Management Cooperation
October 08 2018 - 2:40AM
Dow Jones News
By Adam Clark
Schroders PLC (SDR.LN) said Monday that it is in discussions
with Lloyds Banking Group PLC (LLOY.LN) over potential cooperation
in the wealth-management sector.
Schroders, a FTSE 100-listed asset manager, was responding to
media speculation of a joint venture. It said that discussions are
in process and there can be no certainty that a formal arrangement
will be reached.
Sky News reported Sunday that the companies are considering a
new joint venture that would include Lloyds' wealth-management
arm.
Meanwhile, Schroders has been widely reported to be a
frontrunner for a 109 billion-pound ($142.94 billion)
investment-management contract with Lloyds.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
October 08, 2018 02:25 ET (06:25 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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