Deutsche Bank brought in to advise Lloyds on Scottish Widows sale

Reuters reports that Lloyds has hired Deutsche Bank to help advise with the sale of Scottish Widows Investment Partnership, its asset management unit. Lloyds is considering the sale as a possibility in order to meet regulatory requirements that require the bank to strengthen its balance sheet. Reuter's source did say that the business is not presently up for sale and a formal process has not begun.