Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Lloyds puts 60% St James's Place stake on the market

Lloyds puts 60% St James's Place stake on the market

Lloyds Banking Group is looking for a buyer for its 60% stake in St James’s Place (SJP), according to the Sunday Express.

The report suggests SJP is valued at an estimated £1 billion but is not considered a core asset by new Lloyds chief executive Antonio Horta-Osorio (pictured).

The Express claimed SJP would be sold via either a public offering or offered to a select group of buyers.

Lloyds recently announced the sale of a number of businesses although most of these have been related to its acquisition and integration of HBOS.

Last week it announced 325 jobs were to go as part of the integration, following its announcement last month it was cutting 570 jobs and would close the Cheltenham & Gloucester (C&G) mortgage range sold through advisers.

SJP recently announced the appointment of Colin Jelley as private client director and Vivian Bazalgette as a non-executive director.

A Lloyds spokesman said the group would not comment on market speculation.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter