A spokesman from Lloyds Banking Group (LBG) has confirmed to thewealthnet that Schroders Personal Wealth, the wealth management joint venture which is in the process of being established by Lloyds and Schroders, will go ahead irrespective of the decision of the tribunal established to arbitrate on the dispute between Standard Aberdeen and Lloyds about the transfer of around £100 billion of assets.

Lloyds wants the assets, which are currently managed on its behalf by Standard Aberdeen, to be transferred to BlackRock and Schroders and has served notice to that effect despite the fact that the current management contract does not e...