Lloyds chooses Black­Rock to man­age as­sets

The Courier & Advertiser (Dundee Edition) - - BUSINESS -

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.

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