Goldman Sachs AM out of the running for £109bn Lloyds contract
JPMAM also out
Lloyds Banking Group pulled the business from current managers Standard Life Aberdeen over competition concerns
Goldman Sachs Asset Management (GSAM) has dropped out of the auction for a £109bn Lloyds Banking Group contract, leaving BlackRock and Schroders in a final head-to-head battle to win one of Europe's largest investment mandates.
JPMAM, BlackRock and Schroders were selected to progress to the second round of bids in April while Goldman joined the auction in May. However, JPMAM failed to pass the latest round while Goldman was...
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