BNY Mellon has completed the acquisition of Insight Investment Management from Lloyds Banking Group.

Based in London, Insight Investment specialises in liability driven investment solutions, active fixed income and absolute return. 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 USD133bn (GBP83bn).

With this acquisition, BNY Mellon will have more than USD1trn (GBP630bn) in assets under management.

Jon Little (pictured), vice chairman of BNY Mellon Asset Management, says: “We are very pleased to acquire an organisation with such an impressive management team and capabilities in an area of growing UK and international demand. In addition BNY Mellon Asset Management will become one of the largest managers of UK pension funds and UK mutual funds."