0639 GMT - Lloyds Banking Group could look to make an acquisition in wealth management, an area in which it is underdeveloped, RBC Capital Markets says in a research note. The bank is missing out on relatively high structural growth, returns and an opportunity to diversify its revenue stream, analysts write. They see Quilter as a particularly attractive proposition and potential takeover target. "QLT has a digestible market cap, a national distribution footprint and an adviser base that can cater to mass affluent clients, (where we see the greatest cross-selling opportunity)," they note. The end of Lloyds's Schroders Personal Wealth joint venture--as per unconfirmed press reports--could be a sign that the bank is clearing out the decks before bolstering their affluent wealth offering through inorganic activity, they add. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
October 07, 2025 02:41 ET (06:41 GMT)
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