It may only be an associate company rather than a subsidiary, but Schroders Personal Wealth (SPW) still managed to feature more prominently in the latest data releases from Schroders plc, its minority owner, than Lloyds Banking Group, its majority owner.
The reality is that SPW probably has a much more important role in Schroders' wealth strategy than is the case at Lloyds.
Nonetheless, it is still difficult to ascertain just how well - or badly - SPW performed from ...
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