Schroders

Last updated
Schroders plc
Company type Public limited company
LSE:  SDR
LSE:  SDRC
FTSE 100 Component
Industry Investment management
Founded1804;220 years ago (1804)
Founder Johann Heinrich Schröder
Headquarters London, England, UK
Key people
Products
RevenueDecrease2.svg £2,334.4 million (2023) [1]
Decrease2.svg £661.0 million (2023) [1]
Decrease2.svg £402.6 million (2023) [1]
AUM Increase2.svg £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.com

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.

Contents

Schroders bears the name of the Schröder family, a 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

Arms of the family Mausoleum von Schroder (Friedhof Hamburg-Ohlsdorf).Wappen.ajb.jpg
Arms of the family

Schroders' history began in 1804 when Johann 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 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]

In September 2024, Schroders named finance chief Richard Oldfield as the new CEO, succeeding Peter Harrison, effective 8 November 2024. [18]

In November 2024, Schroders announced that they were reducing the size of its executive committee to 9 members from 22. As part of the overhaul, Ed Houghton, who was most recently a director at Legal & General Group Plc, would join Schroders and its management committee as head of strategy and investor engagement. [19]

Current operations

In April 2012, Schroders acquired a 25% stake in Axis Mutual Fund. [20] [21]

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. [22]

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

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). [23] [24]

Notable current and former employees

Business

Politics and public service

Other

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References

  1. 1 2 3 4 "Annual Results 2023" (PDF). Schroders. Retrieved 29 February 2024.
  2. 1 2 "Half year results" (PDF). Schroders. 1 August 2024. Retrieved 1 August 2024.
  3. ↑ "Annual Report 2017" (PDF). Schroders. Retrieved 22 August 2018.
  4. ↑ Roberts, page 29
  5. ↑ Roberts, page 32
  6. ↑ Gow, David (19 January 2000). "Dynasty: a tale of money and power". The Guardian. Retrieved 12 September 2017.
  7. ↑ Roberts, page 217
  8. ↑ Roberts, page 353
  9. ↑ Roberts, page 420
  10. ↑ Roberts, page 502
  11. ↑ Roberts, page 498
  12. ↑ Citigroup to acquire Schroders bank unit International Herald Tribune, 19 January 2000
  13. ↑ Citigroup boss banks on his 'foot soldiers' - The Times – September 17, 2006
  14. ↑ "Schroders buys Cazenove in £424m deal". Telegraph.co.uk. Retrieved 2017-02-17.
  15. ↑ "Schroders buys Sandaire to accelerate wealth management push" . Financial Times. 18 September 2020. Archived from the original on 2022-12-11.
  16. ↑ "Schroders Capital wins €100m private assets impact mandate". 22 April 2022. Retrieved 24 August 2022.
  17. ↑ Balakrishner, Amala (2023-07-21). "Schroders makes internal promotions to strengthen Apac coverage". Fund Selector Asia. Retrieved 2023-07-24.
  18. ↑ Gyftopoulou, Loukia (10 September 2024). "Schroders Names Finance Chief as CEO, Ending Months-Long Search". BNN Bloomberg. Retrieved 10 September 2024.
  19. ↑ "Schroders Overhauls Executive Committee as CEO Seeks growth". www.bloomberg.com. Retrieved 2024-11-11.
  20. ↑ "UK-based Schroders AMC to buy 25% stake in Axis MF". Moneycontrol. 27 April 2012.
  21. ↑ "Axis MF launches new close-ended equity scheme". Business Standard India. Press Trust of India. 19 November 2013.
  22. ↑ "Schroders plc | WEPs". www.weps.org. Retrieved 2022-06-22.
  23. ↑ "Schroders Press Release" . Retrieved 2014-07-15.
  24. ↑ "FSP Lab News" . Retrieved 2014-07-15.
  25. ↑ "Huw van Steenis | UBS". Securities Industry and Financial Markets Association. Retrieved 29 May 2024.

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