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UKFI will not block Resolution from Lloyds assets, say reports

Resolution’s Clive Cowdery has reportedly held talks with UK Financial Investments over the sale of Lloyds Banking Group’s insurance brands.

According to the Independent on Sunday, Treasury officials have assured him that the offshore structure of his company will not hamper his attempts to buy either Clerical Medical or Scottish Widows.

The paper quotes a source as saying: “Reassurances have been made to Resolution. It will be treated as any other foreign buyer would be. This is a commercial decision.”

Apart from Clerical Medical and Scottish Widows, the Guernsey-based company is believed to be pondering acquisitions of the UK businesses of Axa, Zurich and Aegon as well as Prudential’s UK arm.


Yearsley will head PSigma operations

PSigma Asset Management has appointed Lachlan Yearsley as head of operations. Yearsley joins from Credit Suisse, where he was head of pricing and valuations and pooled pension administration.

The Day of (B)reckoning

A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article


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