Lloyds acquires Embark Group

Embark can add to Lloyds’ capabilities to address the attractive mass market and self-directed wealth segment, completing its wealth proposition. Embark will also help the group to re-platform its pensions and retirement proposition, delivering a platform for intermediaries and strengthening its offering in retirement.

The acquisition of Embark will deliver a mass market, direct-to-consumer proposition, complementing the group's existing advice offerings through Schroders Personal Wealth and Cazenove Capital. The acquisition will see the Group acquire about GBP 35 billion of assets under administration on behalf of 410,000 consumer clients.