Standard Life Aberdeen has seen its shares come under pressure after Lloyds Banking Group said it was ending a £100 billion asset management contract for its Scottish Widows business. Shares in Standard Life Aberdeen dropped as much as 10% at one stage after the announcement, before settling around 5% lower. Standard Life and Aberdeen Asset Management merger Lloyds and Standard Life Aberdeen have been unsuccessful in resolving the competition issues created by the asset management tie-up last year, despite holding talks for the past six months. Standard Life Aberdeen said that despite the size of the contract, it represented less than 5% of its 2017 revenues. Laith Khalaf, senior analyst at Hargreaves Lansdown, said it was a “blow” for Standard Life Aberdeen.

Source: Irish Independent February 15, 2018 09:45 UTC