July 25, 2021

BlackRock will manage 34,000 million assets of Scottish Widows, subsidiary of Lloyds

BlackRock will manage 34,000 million assets of Scottish Widows, subsidiary of Lloyds


The US firm will begin to manage the assets as soon as the current Scottish Widows contract with Standard Life Aberdeen ends or when the arbitration process that is open between the two companies ends. The subsidiary of Lloyds Banking Group estimates that, in any case, the assets will go to BlackRock at the beginning of 2019.

In addition to the 30,000 million pounds that the agreement contemplates, Scottish Widows has signed a "strategic alliance" with the American firm to collaborate in "alternative assets, risk management and investment technologies".

BlackRock has demonstrated "its capabilities in global markets and its deep experience in the British market," said Scottish Widows CEO Antonio Lorenzo.

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