Schroders and Lloyds confirm wealth management deal

Schroders and Lloyds Banking Group have today announced a wealth management strategic partnership and agreement to manage £80bn of Scottish Widows and Lloyds assets.

The partnership will combine Schroders’ investment and wealth management expertise and technology capabilities with Lloyds’ significant client base, multi-channel distribution and digital capabilities.

For Schroders, the partnership will continue its expansion into the strategically important UK wealth management market, building on its core strengths in active investment management.

For Lloyds, the partnership is in line with the strategic objectives outlined in its latest strategic review and will accelerate the development of is financial planning and retirement business, and deliver significant additional growth.

Schroders group chief executive Peter Harrison said: “Wealth management is a strategic priority for Schroders. In combining our award-winning technology and world-class investment expertise with Lloyds’ significant client base and digital capabilities, we are creating a strategic partnership which is exclusively focused on the evolving needs of UK savers and investors.

“I am also delighted that we have been entrusted to manage £80bn of assets for Lloyds’ and Scottish Widows’ clients.”

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