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BNY Mellon Buys UK Investment Manager From Lloyds

Knud Noelle 3 November 2009

BNY Mellon Buys UK Investment Manager From Lloyds

Bank of New York Mellon announced yesterday that its acquisition of London-based Insight Investment Management from Lloyds Banking Group has been completed.

Insight Investment specialises in liability-driven investment services, active fixed income and absolute return; its clients include some of the UK’s largest pension schemes, corporates, insurance companies and local authorities, as well as financial services and intermediary companies, BNY Mellon said in a statement to the press.

“We are very pleased to acquire an organisation with such an impressive management team and capabilities in an area of growing UK and international demand,” said Jon Little, vice chairman of BNY Mellon Asset Management.

“In addition BNY Mellon Asset Management will become one of the largest managers of UK pension funds and UK mutual funds," he added.

In mid-August this publication reported that BNY Mellon paid £235 million ($389 million) for Insight Investment Management.

Insight's assets under management, excluding internal assets retained by another part of Lloyds Banking Group, are approximately $133 billion, BNY Mellon said.

With this acquisition, BNY Mellon will have more than $1 trillion in assets under management.  

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