Lloyds confirmed yesterday it is in talks with wealth manager Rathbone Brothers over the sale of “non-core” wealth management businesses, including the Bank of Scotland operation that runs investment portfolios for wealthy customers.
- Text size
Lloyds seeks to avoid state’s clutches by selling wealth investment business
Efforts by Lloyds Banking Group to stay out of Government control continued yesterday as it confirmed talks to sell its small Bank of Scotland Portfolio Management Service business, but it remains unclear what state support it will receive if it seeks to undertake a rights issue.
