Just one month after Lloyds Banking Group announced plans to sell a third of its St James’s Place stake the company is considering selling off Scottish Widows Investment Partnership (SWIP), according to reports.
The rumoured sale of Lloyds' stake in St James's Place has concluded in the bank planning to dispose of only one third of its holdings in the company, and at a discount to the firm's face value.
A bumper final quarter of the year helped St James’s Place to another record year of new business in 2012.
Lloyds Banking Group is considering selling its 60% stake in St James’s Place Wealth Management to meet regulatory demands over capital reserves, according to reports.
Profits for St James’s Place’s distribution arm were zero in H! 2011 thanks to the costs of RDR.
