Standard Life Aberdeen disputes Lloyds 'right' to pull £109bn Scottish Widows portfolio

SLA claims it is not a 'material competitor'

Natalie Kenway
 Lloyds Banking Group CEO Antonio Horta-Osorio

Lloyds Banking Group CEO Antonio Horta-Osorio

Standard Life Aberdeen (SLA) has disputed Lloyds Banking Group's request to terminate asset management arrangements between the two companies, which would lead to the withdrawal of a £109bn Scottish Widows portfolio, on the grounds that SLA is not in "material competition" with Lloyds as a result of the merger between Aberdeen and Standard Life.

On 15 February, Lloyds Banking Group announced plans to withdraw £109bn of assets currently managed by SLA for Scottish Widows as the bank had been reviewing its Scottish Widows Wealth business inc...

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