October 8, 2018 / 6:19 AM / 9 days ago

Britain's Schroders says in talks with Lloyds to work together in wealth sector

Oct 8 (Reuters) - Asset manager Schroders Plc said on Monday that it was in talks with Lloyds Banking Group to work together in the wealth sector.

Schroders, one of Europe’s biggest standalone investment firms, said in a short statement that discussions were ongoing and there was no certainty that they would lead to a deal.

Sky news reported on Sunday that Lloyds would merge its 13 billion pound ($17.03 billion) wealth management arm into a new joint venture with Schroders.

$1 = 0.7634 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri

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