Schroders
 | |
 Headquarters at 1 London Wall Place | |
| Company type | Public limited company |
|---|---|
| LSE:SDR LSE:SDRC FTSE 100 Component | |
| Industry | Investment management |
| Founded | 1804 |
| Founder | Johann Heinrich Schröder |
| Headquarters | London,England, UK |
Key people |
|
| Products | |
| Revenue |  £2,334.4 million (2023)[1] |
| £661.0 million (2023)[1] | |
| £402.6 million (2023)[1] | |
| AUM |  £773.7 billion (2024)[2] |
Number of employees | 6,071 (2024)[2] |
| Subsidiaries | Cazenove (stock broker),Asia Pacific Land Limited, Blue Asset Management, Schroder & Co Bank AG,Sandaire Investment Office,Schroders Capital |
| Website | www |
Schroders plcis a British multinationalasset managementcompany headquartered inLondon,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 theLondon Stock Exchangeand is a constituent of theFTSE 100 Index.
Schroders bears the name of theSchröder family,aHanseaticfamily ofHamburgwith 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
[edit]
Schroders' history began in 1804 whenJohann Heinrich Schröder(John Henry) became a partner in J.F. Schröder & Co, the London-based firm of his brother, Johann Friedrich (John Frederick), founded in 1800.[4]In 1818 J. Henry Schröder & Co. was established in London.[5]
During theAmerican Civil War,Schroders "issued £3m bonds in 1863 for theConfederacy".[6]
Key events in the development of the business include the establishment of J. Henry Schroder Banking Corporation ('Schrobanco') as acommercial bankin New York in 1923.[7]
Further key events included the public offering of the shares in J. Henry Schroder & Co. Ltd on theLondon Stock Exchangein 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% ofWertheim & Co.,a mid-tier New York basedinvestment 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 underWinfried Bischoff.[11]Schroders was worth £30 million when he took over asCEOin 1984; in 2000 the company sold its investment banking division toCitigroupfor £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 ofCazenovein a deal worth £424 million.[14]
Schroders bought the London-basedSandaire Investment Officein 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]
In September 2024, Schroders named finance chief Richard Oldfield as the new CEO, succeeding Peter Harrison, effective 8 November 2024.[18]
Current operations
[edit]In April 2012, Schroders acquired a 25% stake inAxis Mutual Fund.[19][20]
In December 2021, the firm signed up to theUN'sWomen Empowerment Principles, an initiative to support women in the workplace which was founded by theUnited Nations Global CompactandUN Women.[21]
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
[edit]In June 2014, Schroders' Multi-Asset Investments and Portfolio Solutions (MAPS) announced a collaboration with ProfessorAnthony G. Constantinides,Director of the newly createdImperial CollegeFinancial signal processingLaboratory (FSP).[22][23]
Notable current and former employees
[edit]Business
[edit]- Geoffrey Bell– chairman ofGuinness Mahon(1987–1993) and founder of theGroup of Thirty
- Winfried Bischoff– chairman ofLloyds Banking Group(2009–2014)
- Andrew Knight– editor ofThe Economist(1974–1986)
- Huw van Steenis– vice chair ofOliver Wyman[24]
Politics and public service
[edit]- David Ogilvy, 13th Earl of Airlie–Lord Chamberlain(1984–1997)
- SirGordon Richardson– governor of theBank of England(1973–1983)
- James Wolfensohn– president of theWorld Bank(1995–2005)
- SirJohn Henry BremridgeKBE, JP, MA –financial secretaryof Hong Kong (1981–1986). Sir John Henry Bremridge served as a non-executive director of Schroders plc.
Other
[edit]- Avery Rockefeller– member of theRockefeller family
- Frank Cyril Tiarks– director of the Bank of England (1912–1945); and High Sheriff of Kent (1927)
References
[edit]- ^abcd"Annual Results 2023"(PDF).Schroders.Retrieved29 February2024.
- ^ab"Half year results"(PDF).Schroders. 1 August 2024.Retrieved1 August2024.
- ^"Annual Report 2017"(PDF).Schroders.Retrieved22 August2018.
- ^Roberts, page 29
- ^Roberts, page 32
- ^Gow, David (19 January 2000)."Dynasty: a tale of money and power".The Guardian.Retrieved12 September2017.
- ^Roberts, page 217
- ^Roberts, page 353
- ^Roberts, page 420
- ^Roberts, page 502
- ^Roberts, page 498
- ^Citigroup to acquire Schroders bank unitInternational 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.Retrieved2017-02-17.
- ^"Schroders buys Sandaire to accelerate wealth management push".Financial Times. 18 September 2020.Archivedfrom the original on 2022-12-11.
- ^"Schroders Capital wins €100m private assets impact mandate".22 April 2022.Retrieved24 August2022.
- ^Balakrishner, Amala (2023-07-21)."Schroders makes internal promotions to strengthen Apac coverage".Fund Selector Asia.Retrieved2023-07-24.
- ^Gyftopoulou, Loukia (10 September 2024)."Schroders Names Finance Chief as CEO, Ending Months-Long Search".BNN Bloomberg.Retrieved10 September2024.
- ^"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".weps.org.Retrieved2022-06-22.
- ^"Schroders Press Release".Retrieved2014-07-15.
- ^"FSP Lab News".Retrieved2014-07-15.
- ^"Huw van Steenis | UBS".Securities Industry and Financial Markets Association.Retrieved29 May2024.
Further reading
[edit]- Roberts, Richard (1992).Schroders, Merchants & Bankers.Basingstoke, UK: Macmillan Press.ISBN0-333-44511-2.
External links
[edit]
Major asset management companies | |||||||||||||||||||||||||||||||
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| International | |
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| National | |
- British companies established in 1804
- Investment banks
- Former investment banks
- Companies listed on the London Stock Exchange
- Investment management companies of the United Kingdom
- Financial services companies based in the City of London
- Banks established in 1923
- 1804 establishments in England
- Companies in the FTSE 100 Index