COMPANIES Bank of New York Mellon is in advanced talks to buy the bulk of Insight Investment Management, one of the UK’s biggest fund managers, in a deal that could be valued at up to £235m.
BNY Mellon beat several rival bidders in the auction for Insight, which was acquired by Lloyds Banking Group when it merged with HBOS last year. The rivals included Schroders and Hellman & Friedman, the US private equity group that owns Gartmore, a rival UK fund management group.
