Schroders acquired by Nuveen to form $2.6tn manager
Nuveen has completed its acquisition of Schroders to create a $2.6 trillion asset manager. The deal, first flagged in February 2026, marks the end of 220 years of family ownership for the British firm. Over the next 12 to 18 months, Schroders will continue to operate as a separate entity under the new structure. Richard Oldfield, the group chief executive of Schroders, will report to Bill Huffman, the chief executive of Nuveen, and will lead the continued independent operation of the business.
London will operate as the combined entity’s international headquarters and largest office, with key executive roles located in the UK. The two firms plan to retain their current asset and wealth management investment teams for a minimum of 12 to 18 months during the integration phase. They will also capitalize on the established market presence and positioning of Schroders’ wealth management divisions, such as Cazenove Capital.
The merged public-private investment platform will introduce novel strategies for retirement income management, enhanced capital efficiency in insurance portfolios, and more personalized wealth management services. The organization intends to organize its $400 billion private markets platform by asset class to expand its offerings to clients. Saira Malik will hold the position of chief investment officer for the combined firm, while Johanna Kyrklund will assume the role of chief investment officer for public markets & solutions, eventually reporting to Malik.
Bill Huffman, Nuveen’s chief executive, stated: “Our landmark combination provides a unique opportunity to transform our industry and deliver a client proposition that has not existed before. Together, we will create a platform with top-tier investment performance across all major capital markets, offering the flexibility to customize solutions to align with clients’ specific objectives. We will provide investment excellence and global reach, supported by the credibility of decades of on-the-ground presence worldwide.”
“Today’s milestone is an extraordinary moment for our clients and our business,” said Oldfield. “At a time when the world is changing rapidly, we believe active management is more relevant than ever, helping clients handle 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.”
