Lloyds Banking Group

Lloyds Banking Group Plc may sell part of its fund management business, including a possible initial public offering of Scottish Widows, to raise cash after its bailout, Bloomberg reported.

Lloyds is reportedly in the early stages of assessing options for Scottish Widows, its 194-year-old money management and insurance division. The bank may also sell Clerical Medical, a provider of investment products and pensions.