Lloyds Banking Group has agreed to sell its Insight asset management business to Bank of New York Mellon for £235m.
BNY is taking on £80bn in funds managed by Insight for clients outside the Lloyds group, as well as the Insight management team led by Abdallah Nauphal. The £235m price tag consists of £200m in cash and the remainder in equity. Analysts said the deal could mark a phase of consolidation and disposals among mid-sized asset management groups.

This entry was posted by Gwen Robinson on Thursday, August 13th, 2009 at 5:03 and is filed under Capital markets, M&A. Tagged with Bank of New York Mellon, Insight, Lloyds Banking Group. Edit this entry.