Nuveen has today completed its acquisition of Schroders, creating one of the world’s leading active public-to-private asset and wealth managers with $2.6trn AUM.
The combined firm will continue to grow and innovate through further investment in capabilities, people and client propositions and with the continued support of TIAA, a patient shareholder that invests alongside clients and has supported the long-term priorities of Nuveen across market cycles.
Furthermore, over the next 12–18 months, Schroders will continue to operate separately within Nuveen, led by Richard Oldfield, group CEO at Schroders, who will report to Nuveen CEO, William Huffman.
“Today’s milestone is an extraordinary moment for our clients and our business,” Oldfield said.
“At a time when the world is changing rapidly, we believe active management is more relevant than ever, helping clients navigate uncertainty and achieve the outcomes they need. By bringing together our complementary strengths in active investment, we will offer more to our clients and have more opportunities for growth, underpinned by a shared investment-led culture, long-term perspective and deep heritage.”
Over time a unified investment platform will be established with the full breadth of public and private market capabilities, led by Saira Malik who will serve as chief investment officer, reporting to Huffman.
Johanna Kyrklund will become the combined firm’s chief investment officer of public markets & solutions with responsibility for equities, fixed income, multi-asset and solutions, eventually reporting to Malik.
The firm intends to organise its combined $400bn private markets platform by asset class, reflecting a commitment to broadening the firm’s offering to clients.
