Banking: BoNYM buys Lloyds investment unit

Insight Investment, based in London, specialises in LDI (Liability Driven Investment) solutions, active Fixed Income and Alternatives. Its clients include some of the UK's largest pension schemes, corporates, insurance companies and local authorities, along with a growing number of non-UK clients and some of the best known financial services and intermediary companies. Insight Investment's assets under management, net of identified internal assets that will be retained by another part of the Lloyds Banking Group, are approximately 80,000 million pounds.

Founded in 2002, Insight Investment has delivered year on year organic growth in assets under management. Through the development of its specialist investment capabilities, Insight Investment is now the third largest manager of UK pension funds.

Lloyds Banking Group recently posted huge losses, blamed largely on its takeover of HBOS.

Whilst putting GBP235 million into the coffers might seem like a good day's work, it makes little difference to loss of GBP3,9600 million in the first half of this year.