Legal & General Eyes Bid for NatWest Pension Provider

Here’s a breakdown of ​the article,summarizing the key details:

Legal & General is considering a bid for Natwest‘s pension provider,Cushon.

Key Points:

* Acquisition Target: Legal & General ⁣is interested in buying Cushon, Natwest’s ‌pension provider.
* Market Position: A deal would ⁤make Legal & General the largest commercial ⁣master trust​ in the UK, managing over £36.5bn in assets.
* ​ Cushon’s Size: ​ cushon currently manages over £3.7bn in assets and serves‌ around 650,000 members.
* Natwest’s Stake: Natwest owns 85% of Cushon, with the remaining​ 15%⁤ held by management.
* Natwest’s Strategy: The sale aligns with Natwest CEO Paul Thwaite’s strategy to simplify the bank and​ focus on‍ core operations.
* Cushon’s Services: Cushon offers workplace pensions, ISAs (including Junior and Lifetime ISAs),‌ and investment accounts.
* Competition: ‌ There is “significant”‍ competition for the acquisition of Cushon from other potential buyers.

The article also links to related stories⁣ on City A.M. and Sky News for further reading.