Lloyds Banking Group announces sale of SWIP to Aberdeen Asset Management


Announcemnet - QandAAt SWIP we have been working with Lloyds Banking Group to determine the best outcome for our business – being mindful of both our focus on delivering for our investment clients and Lloyds Banking Group’s ambition to be the best bank for customers. 

Having conducted a strategic review of investment management activities, Lloyds Banking Group has concluded, in conjunction with SWIP, that another owner would be better able to develop and commercialise further the strong capabilities that exist within our business.

As a result, Lloyds Banking Group has agreed to sell our business to Aberdeen Asset Management. As part of the transaction, Lloyds Banking Group will receive shares in Aberdeen and additional deferred payments in cash may be payable, conditional on the performance of the relationship over a period of years. The deal is expected to conclude by the end of the first quarter of 2014, subject to regulatory approval.  As part of the sale, Lloyds Banking Group and Aberdeen will enter into a long-term strategic asset management relationship whereby Aberdeen will manage assets on behalf of Lloyds Banking Group.

The sale of our business to Aberdeen will create the largest listed asset management business in Europe, with more than £336 billion under management, and one of the most formidable players on the global stage.  The sale is expected to result in a stronger asset management business for our clients, combining Aberdeen and SWIP’s strengths across fixed income, real estate, active and quantitative equities, solutions and alternatives. 

Robust plans are in place to manage the sale and transfer process.  In the meantime, there is no change to the way we manage our clients’ investments, and we remain focussed on our aim to deliver outstanding performance and excellent service.

Click here for Questions and Answers  
Click here to read the RNS 

For further information:

IFAs and Discretionary clients: +44 (0)20 7203 3333 swip.com/financial-adviser
Institutional clients: +44 (0) 131 655 8500 swip.com/institutional-investor
Institutional consultants: 44 (0) 131 655 8500 swip.com/institutional-investor
Private investors: +44 (0) 131 655 8500 swip.com/private-investor
Media: +44 (0) 131 655 8282 swip.com/global/media-centre

Important Information

By clicking you agree that you understand that Scottish Widows Investment Partnership ("SWIP") and its subsidiaries are now part of Aberdeen Asset Management PLC and the trademarks of "SWIP" and "Scottish Widows" are used temporarily under licence. SWIP and its subsidiaries no longer forms part of Lloyds Banking Group and now forms part of the Aberdeen Asset Management group of companies.

For professional clients and media professionals only – not to be relied upon by retail clients.
The content of this website is intended for professional clients, journalists and media professionals only and should not be accessed by individual retail investors.

In particular, the content of this site should not be constituted as a financial promotion under the FCA Conduct of Business rules.
By clicking on the Accept link below, you are confirming that you are a member of the media and wish to continue into this site.


Please click on the “Accept” button to confirm that you have read and understood the information given on our Legal and Privacy page and that you will accept cookies from this site.

For more information about our Cookie policy and how to disable cookies on your computer please see the Privacy section on our Legal and Privacy page.