Standard Life Aberdeen wins 100 billion stg mandate dispute against Lloyds
) victory also raises the prospect that Lloyds will have to pay some or all of the 390 million pounds the asset manager would have earned under the terms of the contract due to expire in March 2022, even if it continues to transfer assets to BlackRock and Schroders.“The ruling does not allow any right of appeal. We would expect Lloyds to have to pay compensation. This is likely to be in the order of around 300 million pounds,” KBW analyst Edward Firth said in a note to clients on Tuesday.
A spokesman for Scottish Widows said the Lloyds-owned insurer was “disappointed” with the ruling but it would press ahead with plans to transfer assets to BlackRock and Schroders.
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