LONDON — February 12, 2026

In a landmark moment for global finance, British investment management powerhouse Schroders PLC has agreed to a £9.9 billion takeover by American asset manager Nuveen, marking the end of more than two centuries of family ownership and reshaping the landscape of the global asset management industry.

Historic Background: A Legacy Firm in the City

Founded in 1804 by Johann Heinrich Schröder, Schroders grew from a merchant bank into one of the most respected names in asset management, eventually listing on the London Stock Exchange in 1959. For over 220 years, the Schroder family maintained significant control of the business — a rare feat among global financial institutions.

Under intense competitive pressure from global rivals such as BlackRock and Vanguard, the firm has undergone strategic restructuring in recent years, including cost-cutting measures and business realignments.

The Deal: Nuveen Acquisition Terms

The takeover — agreed with Schroders’ board and principal shareholder group — sees Nuveen, part of the Teachers Insurance and Annuity Association of America (TIAA), buying the entire company for £9.9 billion (about $13.5bn).

Key financial details:

• ‌Shareholders will receive 612p per share, comprising 590p in cash plus a permitted dividend of 22p.
• ‌The total valuation reflects roughly a 29% to 34% premium over Schroders’ share price prior to the announcement.
• ‌The transaction is expected to complete in Q4 2026, subject to regulatory and shareholder approvals.

Strategic Rationale: Scale and Global Reach

The combined organization will become one of the world’s largest active asset managers, with around $2.5 trillion of assets under management (AUM) — leveraging Schroders’ established international footprint with Nuveen’s expansive U.S. market presence.

Schroders CEO Richard Oldfield has committed to stay on post-transaction, and the Schroders brand will continue, with London maintained as the enlarged group’s non-U.S. headquarters and largest office, employing over 3,000 staff.

Oldfield described the deal as a strategic move designed to accelerate growth and create a platform capable of competing more effectively across global public and private markets.

Impact: What It Means for Schroders & the City of London

The sale has major implications for:

• ‌Schroders’ independence: The takeover ends one of London’s last large independent asset managers.
• ‌Shareholder value: Investors have benefited from a significant uptick in share price following the announcement.
• ‌Industry consolidation: The sector continues a trend of mergers and acquisitions as firms seek scale in an increasingly competitive and fee-pressured environment.
• ‌London’s financial position: While Schroders will remain a London-based brand and employer, some analysts view the sale as symbolic of foreign entities absorbing iconic UK institutions.

Looking Ahead

As the financial world anticipates regulatory reviews and completion of the transaction later in 2026, market watchers will be observing how this new global asset manager shapes its strategy in equities, active management, and long-term investment innovation.