Deadline poses big question for Lloyds

Lloyds Banking Group could be set to deliver a heavy blow to Standard Life Aberdeen by announcing the withdrawal of £100bn of funds.

It had agreed to keep the funds, controlled by its Scottish Widows insurance and investment unit, with the asset manager for six months after the merger of Standard Life and Aberdeen Asset Management was completed in August. That period ends on Wednesday.

Lloyds will unveil a three-year strategic plan alongside its results on February 21. It is expected to focus on digital innovation, but may include a commitment to increase its Scottish Widows business to capitalise on people getting older and requiring more help with their retirement savings.

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