Lloyds is looking to sell a chunk of its international wealth management operations, the latest in a string of moves by the UK lender to whittle down its business to focus primarily on UK retail banking, according to people familiar with the bank's plans.

Lloyds's private and international-wealth business, which is based in Switzerland, had £12.6bn of funds under management at the end of 2012. The business has offices around the globe, including in Miami, Dubai and Monaco, according to its website. In recent years, Lloyds has reorganised its wealth division to refocus on UK clients or countries with "Anglophile" connections, according to the bank's annual report.