Lloyds' potential sale of its St James's Place (SJP) stake could be a landmark moment for the bank but the outlook for the wealth manager is less clear, according to investors and analysts.
Reports that Lloyds is looking to sell its 60% stake in SJP have resurfaced following a strong share price run for the wealth manager, and resilient Q3 results last week. Thomas Moore, financials analyst and manager of the UK Equity Income Unconstrained fund at Standard Life Investments (a top ten shareholder in Lloyds) said the bank would likely look to offload SJP in the near future. "I think the SJP option is one they have been thinking about for some time, and the market has been following it very closely," he said. "SJP shares have performed well which potentially provides an ...
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