"Schroders plc Completes Acquisition of Cazenove Capital Stake from Lloyds Banking Group"

"Schroders plc has acquired the remaining 19.1% stake in Cazenove Capital from Lloyds Banking Group, regaining full ownership of the business. Additionally, Schroders has sold its 49.9% stake in Schroders Personal Wealth to Lloyds. This transaction is part of Schroders' strategy to reshape its wealth management business. Schroders will continue to manage customer assets for SPW and maintain a partnership with Lloyds for high net worth services. Slaughter and May provided legal advice for this strategic move."

Slaughter and May advised Schroders plc on its acquisition of the remaining 19.1% stake in Cazenove Capital from Lloyds Banking Group plc, while also facilitating the disposal of Schroders' 49.9% stake in Schroders Personal Wealth to Lloyds. This transaction is a significant step in Schroders' strategy to reshape its wealth management business and focus on its ambition to build the wealth management business of the future. The transaction allows Schroders to regain full ownership of Cazenove Capital, while continuing to manage SPW's customer assets and the existing Scottish Widows mandate under a multi-year agreement. Additionally, Cazenove Capital will maintain its partnership with Lloyds to provide services to Lloyds’ high net worth customers. The Slaughter and May team involved in this transaction included: **Corporate and M&A:** - James Cook, Partner - Richard Hilton, Partner - Matthew Mortimer, Associate - Thomas Hurleston, Associate - Duncan McEwan, Associate - Sebastian Curtis, Trainee - Emily Jefferson, Trainee **IP and Commercial Contracts:** - Laura Houston, Partner - Calum Scott, Associate - Ioanna Antcheva, Associate - Rosie Wilson, Associate **Financial Regulation:** - David Shone, Partner - Amy Bennett, Associate - Henry Paulley, Associate **Tax:** - Dominic Robertson, Partner - Max Cheung, Associate **Real Estate:** - Jane Edwarde, Partner - Simon Bartle, Senior Counsel - Connor Rossi, Associate

"Schroders plc Completes Acquisition of Cazenove Capital Stake from Lloyds Banking Group"

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