Goldman Sachs Asset Management (GSAM) is believed to have become the fourth firm bidding for a £109bn investment contract put up for tender by Lloyds Banking Group, joining BlackRock, Schroders and J.P.Morgan Asset Management (JPMAM).
According to Sky News, GSAM are participating in a second round of bidding for the Lloyds Banking Group deal. The firm has seen significant growth in the past few years and manages $1.5trn globally. The Lloyds contract is one of the largest ever in the UK withdrawn from a single client, accounting for about a third of the total assets that Aberdeen brought to Standard Life as part of their £11bn combination. 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 Wid...
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