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Bank Of New York Mellon to acquire Insight Investment Management from Lloyds Banking Group

Aug 12, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: Bank of New York Co., Inc. (The) (BK)

The Bank of New York Mellon Corporation, a US-based provider of financial services, has agreed to acquire Insight Investment Management (Global) Limited, an asset management company, from Lloyds Banking Group plc, a provider of banking and financial services, for GBP235 million. Both Insight Investment Management and Lloyds Banking Group are based in UK.

Insight Investment specializes in liability driven investment solutions, active fixed income and alternatives. With this acquisition, Insight Investment will join the other investment boutiques at BNY Mellon Asset Management.

The acquisition is expected to close in the fourth quarter of 2009. 

Deal Value (US$ Million) 387.38
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Announced: 2009-08-12

Deal Participants 

Acquirer (Company) The Bank of New York Mellon Corporation
Vendor (Company)   Lloyds Banking Group plc (Formerly Lloyds TSB Group plc)

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: Bank of New York Co., Inc. (The) (BK)


Related terms: acquisition, banking, financial services, investment, new york

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