Feb 12 - British money manager Schroders SDR.L is being taken over by U.S. asset manager Nuveen for 9.9 billion pounds ($13.5 billion), ending the independence of one of London's old finance houses that traces its roots back to the early 1800s.
Here is a timeline of the 222-year old Schroders, from its inception through to managing more than 800 billion pounds in assets now:
Date | Event |
1804 | Schroders was founded by Johann Heinrich Schröders, who went into a partnership in London with his elder brother. The company began as a merchant bank in 1804. |
1818 | After his elder brother's retirement, Johann Heinrich Schröder set up his own firm, J. Henry Schröder & Co. in 1818. |
1870 | Issues bond to support Japan's first railway |
1923 | Schroders makes its first move into the United States. |
1924 | Forms its first investment trust and starts managing investments for clients. |
1959 | Lists on the London Stock Exchange, with the shares 18 times oversubscribed. |
1968 | The Schroder Trust Company’s activities expands into institutional investment management with the purchase of Naess & Thomas. Schroder, Naess & Thomas was later renamed Schroder Capital Management. |
1979 | Enters the U.S. pension fund market. |
1994 | Fully acquires Wertheim & Co., a New York investment bank and asset manager and renamed the firm as Schroder & Co. Inc. in 1997. |
2000 | As a move to fully concentrate on asset management, the group sells its investment banking division to Salomon Smith Barney, part of Citigroup C.N. |
2012 | To beef up its presence in the U.S., Schroders acquires STW Fixed Income Management, getting hold of more than $11 billion worth assets managed by the firm. |
2019 | Bruno Schroder, a non-executive director and the great-great grandson of the company's co-founder John Henry Schroder, dies. |
2024 | Current CEO Richard Oldfield appointed. |
March 2025 | Outlines plans to cut 150 million pounds from its costs over the next three years, part of a revamp to boost flagging performance. |
December 2025 | Sources told Reuters Schroders was exploring options for its financial planning business Benchmark Capital, including a potential sale. |
February 2026 | U.S. asset manager Nuveen set to take over Schroders for 9.9 billion pounds ($13.50 billion). Founding family to sell out. |
Schroders agrees $13.5 billion sale to Nuveen as family sells out L1N3Z80BE
(Reporting by Sri Hari N S in Bengaluru; Editing by Tommy Reggiori Wilkes and Bernadette Baum)
((srihari.ns@thomsonreuters.com))