Posts Tagged ‘foreign & colonial’

Friends Provident to sell Lombard April 6th, 2008

Insurer Friends Provident has put up its wealth management business, Lombard, up for sale. There are a mix of insurers and private equity firms thought to be interested in the business, with French insurer La Mondiale, thought to be the front runner.

The sale, represents the latest in a line of attempts to takeover all or part of Friends Provident. JC Flowers, the prive equity firm, is still interested in Friends as a whole. Friends’ 53% stake in Foreign & Colonial asset management is still up for sale but isn’t shifting and now Towergate is thought to be interested in Pantheon, its intermediary business.

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