Schroders has sold its 49.9 percent stake in Schroders Personal Wealth (SPW) to Lloyds Banking Group, bringing the joint venture relationship to an end after six years. 

In return, Schroders has reclaimed Lloyds’ 19.1 percent share in Cazenove Capital, strengthening its hold on that wealth business. 

Under the new arrangement, Lloyds will take over full ownership and operation of SPW (to be rebranded as Lloyds Wealth).  Meanwhile, Schroders will continue managing SPW’s client assets and Scottish Widows mandates under a renewed multi-year partnership. 

The move reflects Schroders’ strategic pivot toward serving high-net-worth clients, with a leaner, more focused wealth-management division.