Trevor Matthews, chief executive of insurer Friends Provident, is believed to be running the rule over HBOS's 59% stake in St James's Place Capital (SJP), the wealth manager, The Independent on Sunday reports.
The stake in SJP is likely to be sold off by Lloyds TSB if it completes its acquisition of HBOS, alongside other assets deemed non-core to the business, including motor insurer esure and Clerical Medical. Mr Matthews will update the market on the progress of the sale of Friends' Lombard and F&C units at the end of the month during the company's third-quarter results. The businesses, alongside the smaller Pantheon wealth management unit, have been up for sale since the start of the year. A City source said: "St James's Place Capital would sit very nicely with Trevor's thinking. Any chance...
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