View more on these topics

Lloyds eyes Scottish Widows acquisition spree

Lloyds-Banking-Group-Horse-700x450.jpg

Lloyds Banking Group is reportedly plotting a spree of acquisitions for Scottish Widows.

Sky News report the bank has held a beauty parade of investment banks as it plans to embark on a spate of purchases for the provider.

Lloyds has reportedly engaged management consultant McKinsey to assist in identifying assets for acquisition. It is said to be targeting corporate pensions and bulk annuities acquisitions.

A Lloyds spokesman told Sky News: “We are looking at how we continue to focus on growing our insurance business where we believe we have competitive advantage through our sector expertise and scale.

“We have no plans to review our Insurance business more broadly or to consider divestment.”

McKinsey did not respond to requests for comment.

It comes as the Government continues to sell off its holdings in Lloyds.

In its most recent update, the Treasury said the sale of its holdings had so far raised more than £16bn.

However, further sales of the Government’s remaining nine per cent holding are on hold, having been suspended in January in the face of market volatility.

Recommended

Lloyds-Banking-Group-Horse-700x450.jpg

Lloyds launches video mortgage interview service

Lloyds Banking Group is rolling out a free video service to let customers speak to mortgage advisers remotely. The video link was piloted last year and lets Lloyds customers use laptops, desktop computers or tablets to get advice. Lloyds says 33 per cent of appointments from customers that would have been completed over the phone […]

Govt confirms timetable for Lloyds share sale

The Government has committed to selling its shares of Lloyds Banking Group to the retail sector and returning its stake to the private sector in 2016/17. Chancellor George Osborne had been expected to sell £2bn of discounted Lloyds shares to retail investors in February, but the sale was postponed due to poor market conditions. The […]

Taylor-Ronnie-Standard Life-2013
1

Scottish Widows invests £50m to boost customer service

Scottish Widows will invest £50m in its pensions proposition over the next 18 months as it looks to bring digital banking technology to the savings market. The provider, a subsidiary of Lloyds Banking Group, has today launched its ‘Driving Pensions Value’ programme designed to boost customer service, improve adviser support and upgrade the digital support […]

Pensions-savings-retirement-piggy bank
2

Scottish Widows to scrap all workplace pension exit fees

Scottish Widows is removing exit fees across all of its workplace pensions ahead of Government moves to cap penalties when customers leave policies early. In January George Osborne handed the FCA a duty to cap “excessive” exit fees. The level of the cap has not yet been set but Scottish Widows says it will scrap […]

Derek Stuart: where to find value in the UK?

Derek discusses a number of Œself-help stories as examples of where he is finding good opportunities in the UK With the FTSE trading at historically high levels, many investors have questioned whether UK equities continue to offer value. But, as Derek points out, the headline figures mask many opportunities at a sector level. He has […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com