BlackRock, Schroders frontrunners for Lloyds mandate

BlackRock is the largest shareholder in both gunmakers and has more than $6 trillion in assets under management. It stopped short of saying it would divest its funds of gun companies, however.

LONDON: BlackRock Inc and Schroders Plc are the frontrunners to oversee about £109bil (US$144bil) for Lloyds Banking Group Plc, one of the biggest mandates of its kind, people with the knowledge of the process said.

A decision by the London-based bank is expected in the third quarter, said the people who asked not to be identified because the matter is confidential.