Schroders

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Schroders plc
Public
Traded as LSESDR
LSESDRC
FTSE 100 Component
Industry Investment management
Founded 1804; 213 years ago (1804)
Headquarters London, United Kingdom
Key people
Revenue £2,144.9 million (2016)[1]
£644.7 million (2016)[1]
£490.2 million (2016)[1]
Number of employees
4,100 (2016)[2]
Website www.schroders.com

Schroders plc is a British multinational asset management company, founded in 1804. The company employs over 4,100 people worldwide across 41 offices in 27 different countries 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 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).[3] In 1818 J. Henry Schröder & Co. was established in London.[4]

During the American Civil War, Schroders "issued £3m bonds in 1863 for the Confederacy."[5]

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,[6] the public offering of the shares in J. Henry Schroder & Co. Ltd on the London Stock Exchange in 1959[7] and the acquisition of Helbert, Wagg & Co, a leading issuing house, in 1962.[8]

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.[9]

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.[10] 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.[11] Citigroup's European investment banking arm traded as Schroder Salomon Smith Barney from 2000 to 2003.[12]

In 2013, Schroders purchased the capital management arm of Cazenove in a deal worth £424 million.[13]

Current operations[edit]

As at 31 March 2017, Schroders was responsible for assets worth £416.3 billion[14] 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 41 offices in 27 countries, providing wide geographic coverage. Its huge turnover makes them one of the most promising firms to currently be inside the FTSE 100 index.

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). [15][16]

Notable current and former employees[edit]

Business[edit]

Politics and public service[edit]

Other[edit]

References[edit]

  1. ^ a b c "Annual Results 2016 (Press Release)" (PDF). Schroders. Retrieved 2 March 2017. 
  2. ^ "Overview". Schroders. Retrieved 26 March 2016. 
  3. ^ Roberts, page 29
  4. ^ Roberts, page 32
  5. ^ Gow, David (19 January 2000). "Dynasty: a tale of money and power". The Guardian. Retrieved 12 September 2017. 
  6. ^ Roberts, page 217
  7. ^ Roberts, page 353
  8. ^ Roberts, page 420
  9. ^ Roberts, page 502
  10. ^ Roberts, page 498
  11. ^ Citigroup to acquire Schroders bank unit International Herald Tribune, 19 January 2000
  12. ^ Citigroup boss banks on his 'foot soldiers' - The Times - September 17, 2006
  13. ^ "Schroders buys Cazenove in £424m deal". Telegraph.co.uk. Retrieved 2017-02-17. 
  14. ^ http://www.schroders.com/en/sysglobalassets/global-assets/global/news-releases/q1-2017-statement-final.pdf
  15. ^ "Schroders Press Release". Retrieved 2014-07-15. 
  16. ^ "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]