'Only a matter of time': Industry reacts to Lloyds £390m Embark deal

Sophie King
clock • 3 min read

Members of the financial services sector have reacted to the news that Lloyds Banking Group has purchased the Embark platform for £390m. This morning (29 July), it was announced that platform business Embark and its subsidiary brands were sold to the banking giant. The deal, which is subject to regulatory approval, excludes the Rowanmoor SIPP and SSAS administration business, which is being retained by existing shareholders. Fundscape CEO Bella Caridade-Ferreira suspected the deal would go ahead for some time. "Lloyds bought the workplace bit of the Zurich platform and Embark the a...

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