British asset management company
Schroders plc
is a British multinational
asset management
company headquartered in
London
, England. Founded in 1804, it employs over 6,000 people worldwide in 38 locations around Europe, America, Asia, Africa and the Middle East. It is traded on the
London Stock Exchange
and is a constituent of the
FTSE 100 Index
.
Schroders bears the name of the
Schroder family
, a prominent
Hanseatic
family of
Hamburg
with branches in other countries. The Schroder family, through trustee companies, individual ownership and charities, control 47.93 per cent of the company's ordinary shares.
[3]
History
[
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]
Schroders' history began in 1804 when
Johann Heinrich Schroder
(John Henry) became a partner in J.F. Schroder & Co, the London-based firm of his brother, Johann Friedrich (John Frederick), founded in 1800.
[4]
In 1818 J. Henry Schroder & Co. was established in London.
[5]
During the
American Civil War
, Schroders "issued £3m bonds in 1863 for the
Confederacy
."
[6]
Key events in the development of the business include the establishment of J. Henry Schroder Banking Corporation ('Schrobanco') as a
commercial bank
in New York in 1923.
[7]
Further key events included the public offering of the shares in J. Henry Schroder & Co. Ltd on the
London Stock Exchange
in 1959
[8]
and the acquisition of Helbert, Wagg & Co, a leading issuing house, in 1962.
[9]
In 1986 the company disposed of Schrobanco, its commercial banking arm in New York and acquired 50% of
Wertheim & Co.
, a mid-tier New York based
investment bank
, whose activities more closely mirrored those of the London business.
[10]
Schroders played a leading role in the privatisations carried out by the UK Government in the 1980s and was to grow dramatically under
Winfried Bischoff
.
[11]
Schroders was worth £30 million when he took over as
CEO
in 1984; in 2000 the company sold its investment banking division to
Citigroup
for £1.3 billion.
[12]
Citigroup's European investment banking arm traded as Schroder Salomon Smith Barney from 2000 to 2003.
[13]
In 2013, Schroders purchased the capital management arm of
Cazenove
in a deal worth £424 million.
[14]
Schroders bought the London-based
Sandaire Investment Office
in September 2020.
[15]
Schroders announced in June 2021 that it was uniting its specialist private assets capabilities under the newly launched Schroders Capital brand.
[16]
In 2023, Schroders announced that Chris Durack and Karine Szenberg were appointed co-heads to its client groups in an internal restructuring effort to drive growth across the Asia-Pacific area.
[17]
Current operations
[
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]
In April 2012, Schroders acquired a 25% stake in
Axis Mutual Fund
.
[18]
[19]
In December 2021, the firm signed up to the
UN's
Women Empowerment Principles, an initiative to support women in the workplace which was founded by the
United Nations Global Compact
and
UN Women
.
[20]
As at 31 December 2021, Schroders was responsible for assets worth £615.2 billion on behalf of clients including corporations, insurance companies, local and public authorities, charities, pension funds, high-net-worth individuals and retail investors.
[1]
Collaboration with universities
[
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]
In June 2014, Schroders' Multi-Asset Investments and Portfolio Solutions (MAPS) announced a collaboration with Professor
Anthony G. Constantinides
, Director of the newly created
Imperial College
Financial signal processing
Laboratory (FSP).
[21]
[22]
Notable current and former employees
[
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]
Business
[
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]
Politics and public service
[
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]
Other
[
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]
References
[
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]
- ^
a
b
c
d
e
"Annual Results 2023"
(PDF)
. Schroders
. Retrieved
29 February
2024
.
- ^
"Who we are"
. Schroders. 29 February 2024
. Retrieved
29 February
2024
.
- ^
"Annual Report 2017"
(PDF)
. Schroders
. Retrieved
22 August
2018
.
- ^
Roberts, page 29
- ^
Roberts, page 32
- ^
Gow, David (19 January 2000).
"Dynasty: a tale of money and power"
.
The Guardian
. Retrieved
12 September
2017
.
- ^
Roberts, page 217
- ^
Roberts, page 353
- ^
Roberts, page 420
- ^
Roberts, page 502
- ^
Roberts, page 498
- ^
Citigroup to acquire Schroders bank unit
International Herald Tribune, 19 January 2000
- ^
Citigroup boss banks on his 'foot soldiers'
-
The Times
? September 17, 2006
- ^
"Schroders buys Cazenove in £424m deal"
.
Telegraph.co.uk
. Retrieved
2017-02-17
.
- ^
"Schroders buys Sandaire to accelerate wealth management push"
. Financial Times. 18 September 2020.
Archived
from the original on 2022-12-11.
- ^
"Schroders Capital wins €100m private assets impact mandate"
. 22 April 2022
. Retrieved
24 August
2022
.
- ^
Balakrishner, Amala (2023-07-21).
"Schroders makes internal promotions to strengthen Apac coverage"
.
Fund Selector Asia
. Retrieved
2023-07-24
.
- ^
"UK-based Schroders AMC to buy 25% stake in Axis MF"
.
Moneycontrol
. 27 April 2012.
- ^
"Axis MF launches new close-ended equity scheme"
.
Business Standard India
. Press Trust of India. 19 November 2013.
- ^
"Schroders plc | WEPs"
.
www.weps.org
. Retrieved
2022-06-22
.
- ^
"Schroders Press Release"
. Retrieved
2014-07-15
.
- ^
"FSP Lab News"
. Retrieved
2014-07-15
.
- ^
"Huw van Steenis | UBS"
.
Securities Industry and Financial Markets Association
. Retrieved
29 May
2024
.
Further reading
[
edit
]
- Roberts, Richard (1992).
Schroders, Merchants & Bankers
. Basingstoke, UK: Macmillan Press.
ISBN
0-333-44511-2
.
External links
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]
Major asset management companies
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