Nuveen has completed its acquisition of Schroders. The deal was confirmed to be worth around £9.9 billion by the firms back in February 2026 when the transaction was announced.
The deal was first confirmed in February and closed on 1 October, in line with the Q4 2026 timeline set at the time. Schroders shares were suspended and delisted from the London Stock Exchange earlier that day.
William Huffman, chief executive, Nuveen, said: “Together, we’ll create a platform with leading investment performance across every major capital market with the flexibility to tailor solutions to meet clients’ specific goals.”
Nuveen has confirmed that Schroders will run as a separate business for 12-18 months under group chief executive Richard Oldfield, who reports to Huffman.
During that time, investment teams in both firms’ asset and wealth management businesses, including Schroders’ Cazenove Capital, will stay as they are, while the firms work towards a single investment platform.
That platform will be led by Saira Malik as chief investment officer, reporting to Huffman. Johanna Kyrklund becomes chief investment officer of public markets and solutions, with responsibility for equities, fixed income, multi-asset and solutions, and will eventually report to Malik.
The combined $400 billion private markets business will be organised by asset class. Matt Oomen will lead global client coverage, also reporting to Huffman.
London will be the firm’s headquarters outside the US and its largest office, and some senior roles will be based in the UK.
Read more: Multi-asset desks are the way forward argues Schroders’ Gordon Noonan
The combined firm now manages $2.6 trillion across institutional and wealth channels and will be active in more than 40 markets.
Richard Oldfield, group chief executive, Schroders, added: “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.”