Lloyds chooses BlackRock to manage assets
Lloyds Banking Group has chosen BlackRock to manage £30 billion on behalf of its Scottish Widows life insurance business.
Lloyds said the money awarded to BlackRock would be invested in index strategies.
It said it would also look to agree a strategic partnership to collaborate in alternative asset classes, risk management and investment technology which could lead to a further £80bn for BlackRock to manage.
It follows a row between Lloyds and Standard Life Aberdeen, which had previously managed the assets.