Schroders: End of an era for historic British finance firm

Feb 12 - British money manager Schroders 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 . 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 Outlines plans to cut ‌150 million 2025 pounds from its costs over the next three years, part of a revamp to boost flagging ​performance. December Sources told Reuters ​Schroders was exploring 2025 options for its financial planning business Benchmark Capital, ‌including a potential sale. February U.S. asset manager Nuveen set to take over 2026 Schroders for 9.9 billion pounds ($13.50 billion). Founding family to sell out. (Reporting by Sri Hari N S in Bengaluru; Editing by Tommy Reggiori Wilkes and Bernadette Baum)

Schroders

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