Nuveen has completed its acquisition of Schroders, forming a combined asset manager with $2.6 trillion in assets under management operating across more than 40 international markets.
William Huffman, Nuveen's Chief Executive Officer, leads the merged group. Schroders will operate independently for 12 to 18 months under Richard Oldfield, Group Chief Executive of Schroders, who will report to Huffman.
Saira Malik serves as Chief Investment Officer for the combined entity. Johanna Kyrklund will lead the Public Markets and Solutions division, overseeing equities, fixed income, multi-assets and solutions.
The combined firm's private markets platform holds $400 billion in aggregate assets. Schroders Capital recently closed its largest private equity fund at $1.3 billion.
Nuveen's long-term shareholder TIAA supports the merger, saying it accelerates the company's strategy and strengthens investment capabilities for retirement products and annuities.
The integration will build a unified investment platform encompassing public and private market capabilities. Huffman said the strategy will offer new approaches to retirement income management, improve capital efficiency in insurance portfolios, and enhance customization in wealth management.
The combined entity ranks among the top ten global managers in active management across equities, fixed income, and private markets. The 12 to 18-month independent operating period for Schroders is designed to preserve existing investment teams and client relationships during the transition.
