Analysts put a price on head of Swip

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BROKERS have estimated that Lloyds Banking Group could raise between £800 million and £1 billion on the sale of its fund management arm, Scottish Widows Investment Partnership (Swip).

Numis analyst David McCann said buyers of the fund manager could include rival BlackRock or life and pensions group, Legal & General. The part tax payer-owned bank is understood to be looking at a sale of Swip in order to slim down its balance sheet.