Group to focus on banking following CEO review
Lloyds Banking Group is considering selling its Scottish Widows life insurance and pensions business as part of a group-wide overhaul, The Times reports.
New Lloyds chief executive Antonio Horta-Osorio is expected to present his strategy to investors in June, in which he will advocate a focus on core banking services.
The paper said Scottish Widows would be sold for between £5bn and £7bn. The most likely buyer, it contended, is Clive Cowdery’s Resolution Group.
