Schroders

Schroders plc is a British multinational asset management company, founded in 1804. The company employs over 5,000 people worldwide in 32 locations around Europe, America, Asia, Africa and the Middle East. Headquartered in the City of London, it is traded on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Schroders plc
TypePublic limited company
LSE: SDR
LSE: SDRC
FTSE 100 Component
IndustryInvestment management
Founded1804 (1804)
FounderJohann Heinrich Schröder
HeadquartersLondon, United Kingdom
Key people
Revenue£2,537.0 million (2019)[1]
£701.2 million (2019)[1]
£495.7 million (2019)[1]
AUM £500.2 billion (2019)[1]
Number of employees
5,100 (2019)[2]
Websitewww.schroders.com

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]

History
Arms of the family

Schroders' history began in 1804 when Johann Heinrich Schröder (John Henry) became a partner in the London-based firm of his brother, Johann Friedrich (John Frederick).[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] 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: yet 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]

Current operations

As at 31 December 2019, Schroders was responsible for assets worth £500.2 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). [16][17]

Notable current and former employees

Business

Politics and public service

Other

References
  1. "Annual Results 2019" (PDF). Schroders. Retrieved 5 March 2020.
  2. "Overview". Schroders. Retrieved 5 March 2020.
  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.
  16. "Schroders Press Release". Retrieved 2014-07-15.
  17. "FSP Lab News". Retrieved 2014-07-15.

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