BlackRock, JPMAM and Schroders bid for Lloyds mandate

Contract withdrawn from Standard Life Aberdeen

Beth Brearley
clock • 1 min read

BlackRock, JP Morgan Asset Management and Schroders are among the firms vying for a £109bn investment contract put up for tender by Lloyds Banking Group, having made it through to the second round of bids.

In February Lloyds announced it would withdraw £109bn of assets managed by Standard Life Aberdeen (SLA) for Scottish Widows since 2014 on the grounds of competition between the insurers. Following a review of its Scottish Widows Wealth business, Lloyds gave Standard Life Aberdeen a 12-month notice period for the termination of current arrangements. While SLA was allowed to bid for the mandate, it is not thought to be through to the latest round, the FT reports. The contract is one of the largest ever in the UK withdrawn from a single client, accounting for about a third of the tota...

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

Party politics: Why investors should celebrate AIM's 30th birthday, even if the government won't

Party politics: Why investors should celebrate AIM's 30th birthday, even if the government won't

AIM has helped 4,000 businesses raise £135bn since launch

Eustace Santa Barbara
clock 19 June 2025 • 4 min read
AIM at 30: Why advisers should take a fresh look at the UK's junior market

AIM at 30: Why advisers should take a fresh look at the UK's junior market

'We see AIM as a jewel in the crown with long-term appeal for the right clients'

Oliver Brown
clock 17 June 2025 • 4 min read
Taking the rough with the smooth: How to navigate global market volatility

Taking the rough with the smooth: How to navigate global market volatility

'Like investing, smoothing isn't one-size-fits-all'

James Tothill
clock 13 June 2025 • 4 min read