Lloyds TSB Private Banking is launching an investment portfolio service offering customers a discretionary investment management service in ...

Lloyds TSB Private Banking is launching an investment portfolio service offering customers a discretionary investment management service in association with Scottish Widows Investment Partnership. “Our clients can now invest in funds created with their needs in mind, at competitive rates not normally available on the high street,” said Mark Cheshire, managing director of Lloyds TSB Private Banking. The new service will almost triple the number of client investment profiles available to customers and offers a range of equity, bond and property funds. Mr Cheshire added: “The close relationship we build up with clients enables us to provide them with a holistic banking and investment service. “Not only does this encompass traditional banking, including tax and inheritance planning, but also allows us to provide for their investment needs.” Lloyds TSB Private Banking and Scottish Widows have more than £87 billion in assets under management. The private banking service is a key area for expansion for Lloyds TSB.