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Article: MANAGER PURCHASE: LLOYDS, SCOTTISH WIDOWS PAIR LIKELY TO FOCUS ON CHASING ASSETS OUTSIDE UNITED KINGDOM.
- Article from:
- Pensions & Investments
- Article date:
- June 28, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The combination of Scottish Widows Investment Management Ltd.'s assets with Lloyds TSB Group's asset management wings will create a U.K.-based money manager with close to $128 billion under management and its sights set on expanding globally.
Last week, Lloyds TSB Group PLC, London, announced it agreed to pay L7 billion ($11.2 billion) for Scottish Widows Fund & Life Assurance Co., Edinburgh. Executives with Scottish Widows said they hoped the deal would be closed by March.
Scottish Widows Investment Management ``is a U.K. asset management company that wants to be global,'' said Orie Dudley Jr., chief executive officer. The company is ``nowhere near ...