LONDON Lloyds TSB unveiled Create last week, a wealth management service that offers independent investment management and online financial planning tools for high-net-worth customers.
Create, which consolidates all of a clients investments in a single account, is available to anyone with more than $100,000 of cash or $125,000 of liquid assets. Lloyds TSBs existing private banking operations, which include 40,000 clients, are to be incorporated in the new company.
Goldman Sachs is to supply customized proprietary research, international equity dealing and market-making, and custody and settlement services. Creates customers will also have access to selected equity capital market offerings managed by Goldman.