Deals
Standard Life Falls After Lloyds Ends Asset-Management Pact
- Standard Life Aberdeen shares decline as much as 9.8 percent
- Agreement will be terminated by the end of first half of 2019
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Standard Life Aberdeen Plc shares fell the most since 2016 after Lloyds Banking Group Plc said it will pull almost 20 percent of the money manager’s assets.
The British bank said Thursday it was ending an arrangement through which Standard Life Aberdeen, Britain’s largest active money manager, oversees 109 billion pounds ($153 billion) of assets for the bank.