Nuveen Acquires City of London Giant Schroders for £9.9 Billion
Nuveen has announced a significant acquisition of Schroders Plc for £9.9 billion ($13.5 billion). This landmark deal positions Nuveen as a major player in the asset management sector. With this acquisition, the company aims to create one of the largest active asset managers globally, boasting nearly $2.5 trillion in assets under management.
Impact on Schroders and the City of London
This acquisition marks the end of over 200 years of independence for Schroders Plc, the UK’s foremost standalone asset manager. Historically, Schroders has been a notable entity within the City of London, which has long been recognized for its influential merchant bankers in finance.
Future Operations and Structure
Despite the acquisition, the Schroders brand will continue to operate. London will be the non-US headquarters for the newly formed entity, housing around 3,100 employees. The integration aims to leverage the strengths of both organizations.
| Details | Information |
|---|---|
| Acquisition Amount | £9.9 billion ($13.5 billion) |
| Assets Under Management | Nearly $2.5 trillion |
| Years of Independence | Over 200 years |
| Employees in London | Approximately 3,100 |
This deal signifies a notable shift in the asset management industry, as it consolidates significant resources and expertise under one roof. The future of Nuveen and Schroders looks promising as they embark on this journey together, leveraging their combined strengths to cater to a broad client base.
