'Only a matter of time': Industry reacts to Lloyds £390m Embark deal

This morning (29 July), it was announced that platform business Embark and its subsidiary brands were sold to the banking giant. The deal, which is subject to regulatory approval, excludes the Rowanmoor SIPP and SSAS administration business, which is being retained by existing shareholders. Fundscape CEO Bella Caridade-Ferreira suspected the deal would go ahead for some time. "Lloyds bought the workplace bit of the Zurich platform and Embark the adviser bit, so it seemed like a matter of time before the bits were eventually brought together again. "Lloyds has been toying with launc...