Schroders, a historic British asset management group, has confirmed a £9.9 billion takeover by Chicago-based Nuveen, a significant move that marks the end of 200 years of family ownership. This acquisition will create one of the world’s largest fund management entities, managing approximately $2.5 trillion in assets. Despite the change in ownership, Schroders will maintain its London office as its largest hub, continue operating under its branding, and retain its staff base of around 3,100 employees.

The company was founded in 1804 by Johann Schröder as a merchant bank in London, and has evolved considerably over the years, transitioning from banking to a focus on asset management. It became publicly listed on the London Stock Exchange in 1959 and divested its investment banking sectors in 2000. The acquisition by Nuveen stands as a transformative moment not just for Schroders but also reflects broader trends in the asset management industry as firms consolidate to remain competitive on a global scale.

The end of family ownership leads to speculation about the future direction of the company. The current head, Leonie Schroder, is reported to have a personal wealth estimated at £3.93 billion, reflecting the family's long-standing influence in the financial sector. The consolidation of financial power among large investment firms could affect market dynamics and competition in asset management, raising questions about the sustainability of smaller entities in the industry as they navigate these changes.