MetLife is considering launching an asset management business in the UK as part of ambitious growth plans.
Dominic Grinstead, managing director of MetLife UK, says: “There are a number of areas we are looking at to expand our business in the UK. Asset management is an adjacent area for us in a number of the markets we operate in worldwide.
“We have not made any firm decision yet and would not consider a market entry in the UK before 2013.”
Earlier this month, Friends Life announced plans to launch an asset management subsidiary, Friends Life Investments, in the second half of 2012.
Adrian Lowcock, senior investment adviser at Bestinvest, says: “The RDR will provide a lot of interesting opportunities for fund management groups so I am not surprised providers are looking at it. The challenge for MetLife will be to get its name out in the UK market.”
MetLife also plans to increase its presence in the group risk market in the next two years.