Schroders

Short description: British asset management company

Schroders plc

Headquarters at 1 London Wall Place

Type| Public limited company

Traded as

| LSE: [Script error: No such module "Stock tickers/LSE". SDR]
LSE: [Script error: No such module "Stock tickers/LSE". SDRC]
FTSE 100 Component
Industry| Investment management
Founded| 1804; 220 years ago (1804)
Founder| Johann Heinrich Schröder
Headquarters| London, England, UK
Products|

* Asset management
* Risk management
* Mutual funds
* Exchange-traded funds
* Index funds
* Stockbroking

Revenue|  £2,891.7 million (2022)[1]

Operating income

|  £723.0 million (2022)[1]

Net income

|  £486.2 million (2022)[1]
AUM|  £726.1 billion (2023)[2]

Number of employees

| 6,100 (2023)
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.

Schroders bears the name of the Schröder 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]

## Contents

* 1 History
* 2 Current operations
* 3 Collaboration with universities
* 4 Notable current and former employees
* 4.1 Business
* 4.2 Politics and public service
* 4.3 Other
* 5 References
* 6 Further reading
* 7 External links

## History

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]

## Current operations

In April 2012, Schroders acquired a 25% stake in Axis Mutual Fund.[18][19]

In December 2021, the firm signed up to the United Nations 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

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

### Business

* Geoffrey Bell – chairman of Guinness Mahon (1987–1993) and founder of the Group of Thirty
* Winfried Bischoff – chairman of Lloyds Banking Group (2009–2014)
* Andrew Knight – editor of The Economist (1974–1986)

### Politics and public service

* David Ogilvy, 13th Earl of Airlie – Lord Chamberlain (1984–1997)
* Sir Gordon Richardson – governor of the Bank of England (1973–1983)
* James Wolfensohn – president of the World Bank (1995–2005)
* Sir John Henry Bremridge KBE, JP, MA – financial secretary of Hong Kong (1981–1986). Sir John Henry Bremridge served as a non-executive director of Schroders plc.

### Other

* Avery Rockefeller – member of the Rockefeller family
* Frank Cyril Tiarks – director of the Bank of England (1912–1945); and High Sheriff of Kent (1927)

## References

1. ↑ 1.0 1.1 1.2 1.3 "Annual Results 2022". Schroders. https://mybrand.schroders.com/m/6e4df20da03cfd84/original/FY-22-press-release.pdf.
2. ↑ "Half year results to 30 June 2023". Schroders. https://www.schroders.com/en/global/individual/media-centre/schroders-plc
half-year-results-to-30-june-2023-unaudited-/.
3. ↑ "Annual Report 2017". Schroders. https://www.schroders.com/en/sysglobalassets/global/annual-report/documents/Schroders-AR17-Governance.pdf.
4. ↑ Roberts, page 29
5. ↑ Roberts, page 32
6. ↑ Gow, David (19 January 2000). "Dynasty: a tale of money and power". The Guardian. https://www.theguardian.com/business/2000/jan/19/4.
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" (in en). Telegraph.co.uk. https://www.telegraph.co.uk/finance/personalfinance/9951903/Schroders-buys-Cazenove-in-424m-deal.html.
15. ↑ "Schroders buys Sandaire to accelerate wealth management push". Financial Times. 18 September 2020. https://www.ft.com/content/5d5448f5-4ea6-4b86-a073-a0ed676efacd.
16. ↑ "Schroders Capital wins €100m private assets impact mandate". 22 April 2022. https://citywireselector.com/news/schroders-capital-wins-100m-private-assets-impact-mandate/a2385503.
17. ↑ Balakrishner, Amala (2023-07-21). "Schroders makes internal promotions to strengthen Apac coverage" (in en-US). https://fundselectorasia.com/shroders-makes-internal-promotions-to-strengthen-apac-coverage/.
18. ↑ "UK-based Schroders AMC to buy 25% stake in Axis MF". https://www.moneycontrol.com/news/business/mutual-funds/-1947151.html.
19. ↑ "Axis MF launches new close-ended equity scheme". Press Trust of India. 19 November 2013. https://www.business-standard.com/article/markets/axis-mf-launches-new-close-ended-equity-scheme-113111900875_1.html.
20. ↑ "Schroders plc | WEPs" (in en). https://www.weps.org/company/schroders-plc.
21. ↑ "Schroders Press Release". http://www.schroders.com/global/media-centre/news-releases?id=Schroders and experts from Imperial College London collaborate on Multi-Asset study.
22. ↑ "FSP Lab News". http://www.fsplab.com/news/.

## Further reading

* Roberts, Richard (1992). Schroders, Merchants & Bankers. Basingstoke, UK: Macmillan Press. ISBN 0-333-44511-2.

## External links

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