Story
Nuveen Completes Schroders Acquisition, Forging $2.6 Trillion Asset Manager
Summary
The U.S.-based asset manager has finalized its takeover of British fund manager Schroders, creating a combined entity with over $2.6 trillion in assets under management and a presence in more than 40 markets.
U.S. asset manager Nuveen has completed its acquisition of British fund manager Schroders, creating an investment powerhouse with more than $2.6 trillion in combined assets under management (AUM), according to a company announcement on Thursday.
Deal Creates Asset Management Giant
The finalization of the deal establishes one of the world's largest investment groups. According to a Reuters report on October 1, the newly formed entity will have a significant global footprint, with operations spanning more than 40 markets worldwide.
This move marks a major consolidation within the financial services industry, combining a prominent American investment manager with a long-established British firm.
AdLeadership and Integration Plan
Nuveen outlined a transitional structure for the combined operations. Schroders is expected to operate as a separate unit within the Nuveen organization for the next 12 to 18 months.
During this integration period, Schroders will continue to be led by its Group Chief Executive, Richard Oldfield. He will report directly to Nuveen CEO William Huffman, who will oversee the combined company.
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