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- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
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Blackrock Poised to Become Biggest Lloyds Bank Shareholder
[Photo: by Tony Hisgett / Wikimedia Commons]
Blackrock, which describes itself as the world’s biggest fund manager with $5.1 trillion under management, is on track to become the biggest shareholder in Lloyds Banking Group as the U.K. government follows through on its plan to sell down its stake in the bailed out bank. Blackrock owns at least 5% in Lloyds.
The government pumped £20.3bn into Lloyds and, even though it is now selling the shares below the average price paid for them, it has calculated it has received £17.5bn.
Meanwhile, the U.K. government stake in Royal Bank of Scotland remains at 73%..
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