Schroders chief vows to keep wealth manager Cazenove after £9.9bn takeover
Financial Times
February 23, 2026
AI-Generated Deep Dive Summary
Schroders' Chief Executive Richard Oldfield has assured stakeholders that Cazenove Capital will remain operational following Schroders' £9.9 billion acquisition by US fund manager Nuveen. Oldfield emphasized that there are no plans to sell or dismantle Cazenove, signaling a commitment to preserving its independence and heritage in wealth management.
The decision to acquire Cazenove reflects Schroders' strategic focus on expanding its presence in the UK's private banking sector, particularly among ultra-high-net-worth individuals. This move underscores the growing competition in the global financial services industry, with firms like Nuveen recognizing the value of specialized wealth management expertise.
This acquisition highlights the dynamic nature of the financial sector, where mergers and takeovers are frequent. Schroders' retention of Cazenove not only ensures continuity for its clients but also reassures employees about job security. For readers interested in business, this underscores the importance of strategic decisions in maintaining market leadership and client trust.
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Originally published on Financial Times on 2/23/2026