BlackRock, Schroders Are Frontrunners for Lloyds $144 Billion Mandate

BlackRock Inc. and Schroders Plc are the frontrunners to oversee about 109 billion pounds ($144 billion) for Lloyds Banking Group Plc, one of the biggest mandates of its kind, people with the knowledge of the process said. Lloyds invited bids for the contract earlier this year after ending an agreement with Standard Life Aberdeen Plc, which currently manages the money. Lloyds may select a sole winner or decide to split the mandate, the people said.