Lloyds plans to merge £13bn wealth unit into Schroders

Lloyds Banking Group is planning to merge its £13bn wealth management unit into a joint venture (JV) with investment firm Schroders. The successful Lloyds and Schroders wealth tie-up, would create one of the biggest wealth management JVs in the recent years. The proposed tie-up was confirmed by Schroders in a statement.   “Schroders confirms that…