Wealth Management

Schroders sells stake in UK wealth venture to Lloyds Banking Group

Lloyds Banking Group takes full ownership of Schroders Personal Wealth, as the two groups abandon a joint venture launched in 2019

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SPW was set up in 2019 by Lloyds and Schroders to target the bourgeoning UK mass affluent market Photo: Peter Dazeley

Schroders has handed full ownership of its Personal Wealth joint venture to Lloyds Banking Group, calling time on a six-year partnership between the two City giants.

The FTSE 100 fund group has transferred its 49.9% stake in SPW to the UK bank, which will take full control of the wealth and financial advice business, it confirmed in a 9 October statement.

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