2 godzin temu
US investment firm Nuveen acquires UK rival Schroders for £9.9 billion, ending the British asset manager's listing on the London Stock Exchange since 1959. The deal creates an investment giant managing nearly $2.5 trillion in assets and marks the departure of a City stalwart from the London market.
Schroders shareholders will receive £5.90 per share plus dividends of up to 22p. The company's shares soared nearly 30% on Thursday following the announcement.
The Schroder family, descendants of founder John Henry Schroder who established the firm over 200 years ago, retains a 42% stake in the business. The family's shareholding is valued at more than £4 billion.
London's Role Secured
Nuveen, owned by the Teachers Insurance and Annuity Association of America, has committed to retaining the Schroders brand and designating London as the combined group's head office outside the US. Around 3,100 staff will be based in the British capital.
Dame Elizabeth Corley, chairwoman of Schroders, emphasized that London «will remain at the heart of this enlarged business».
Richard Oldfield, chief executive of Schroders, defended the merger: «In a competitive landscape where scale can help deliver benefits, in Nuveen we see a partner that shares our values, respects the culture we have built and will create exciting opportunities for our clients and people.»
Historic Consolidation
Schroders listed its shares on the London Stock Exchange in 1959 and employs around 5,500 people. The company sold its investment banking arm in 2000 to focus on asset management, advisory, and wealth management services.
The transaction is subject to regulatory approval and will complete during the final three months of 2026.
Note: This article was created with Artificial Intelligence (AI).
