Schroders

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Schroders plc
Type Public
Traded as LSESDR / LSESDRC
Industry Investment management
Founded 1804
Headquarters London, United Kingdom
Key people Andrew Beeson, Chairman
Michael Dobson, CEO
Revenue £1,809.1 million (2013)[1]
Operating income £487.9 million (2013)[1]
Net income £404.8 million (2013)[1]
Employees 3,502 (2013)
Website www.schroders.com

Schroders plc is a British multinational asset management company, founded in 1804. The company employs over 3,500 people worldwide across 37 offices in 27 different countries around Europe, America, Asia 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 has two share classes: voting shares (SDR.L) and non-voting shares (SDRC.L).

Schroders bears the name of the Schröder family, a prominent Hanseatic family of Hamburg with branches in other countries.

History[edit]

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).[2] In 1818 J. Henry Schröder & Co. was established in London.[3]

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,[4] the public offering of the shares in J. Henry Schroder & Co. Ltd on the London Stock Exchange in 1959[5] and the acquisition of Helbert, Wagg & Co, a leading issuing house, in 1962.[6]

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.[7]

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.[8] 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.[9] Citigroup's European investment banking arm traded as Schroder Salomon Smith Barney from 2000 to 2003.[10]

Current operations[edit]

As at 30 September 2014, Schroders manages assets worth £276.2 billion (EUR 354.4 billion/$447.7 billion),[11] on behalf of clients including corporations, insurance companies, local and public authorities, charities, pension funds, high-net-worth individuals and retail investors. Schroders operates through 37 offices in 27 countries, providing wide geographic coverage.

Collaboration with universities[edit]

In June 2014, Schroders Multi-Asset Investments and Portfolio Solutions (MAPS), led by Nico Marais, announced a collaboration with Professor Anthony G. Constantinides, Director of the newly created Imperial College Financial signal processing Laboratory (FSP). [12][13]

Notable current and former employees[edit]

Business[edit]

Politics and public service[edit]

Other[edit]

References[edit]

  1. ^ a b c Annual Results 2013
  2. ^ Roberts, page 29
  3. ^ Roberts, page 32
  4. ^ Roberts, page 217
  5. ^ Roberts, page 353
  6. ^ Roberts, page 420
  7. ^ Roberts, page 502
  8. ^ Roberts, page 498
  9. ^ Citigroup to acquire Schroders bank unit International Herald Tribune, 19 January 2000
  10. ^ Citigroup boss banks on his 'foot soldiers' - The Times - September 17, 2006
  11. ^ Schroders plc: Schroders Overview
  12. ^ "Schroders Press Release". Retrieved 2014-07-15. 
  13. ^ "FSP Lab News". Retrieved 2014-07-15. 

Further reading[edit]

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

External links[edit]