Aberdeen's Gilbert: Lloyds' wealth ambitions are key to SWIP deal

clock

Aberdeen CEO Martin Gilbert has said Lloyds Banking group's plan to boost its wealth management capabilities is a crucial factor in the fund manager's deal to buy SWIP, but refused to be drawn on possible job cuts.

In a conference call this morning, Gilbert (pictured) said the purchase of SWIP's investment solutions division, responsible for the design, development and management of multi-asset solutions for Lloyds' wealth clients, is the element that led Aberdeen to the £650m deal. The business provides advice on about £15bn of Lloyds wealth clients' discretionary assets. "It is the part of the business that sits between SWIP and Lloyds Bank. It makes a genuine relationship between the two. It is that close relationship with Lloyds customers that really attracted us to do this deal." "You could ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Government launches taskforce to tackle £1.6bn in unclaimed child trust funds

Government launches taskforce to tackle £1.6bn in unclaimed child trust funds

Links up with providers including Coutts, Nationwide and HSBC

Isabel Baxter
clock 29 June 2026 • 3 min read
FCA proposes 'targeted and proportionate' changes to listing rules for closed-ended funds

FCA proposes 'targeted and proportionate' changes to listing rules for closed-ended funds

Consultation runs into August

Michael Nelson
clock 26 June 2026 • 5 min read
Big games, big names… and smaller companies

Big games, big names… and smaller companies

'Brazil should be looking to the future rather than to the past'

Gabriel Sacks
clock 22 June 2026 • 4 min read