Schroders plc is a
British
British may refer to:
Peoples, culture, and language
* British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies.
** Britishness, the British identity and common culture
* British English, ...
multinational
asset management
Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...
company, founded in 1804. The company employs over 5,000 people worldwide in 32 locations around Europe, America, Asia, Africa and the Middle East. Headquartered in the
City of London
The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London fr ...
, it is traded on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
and is a constituent of the
FTSE 100 Index.
Schroders bears the name of the
Schröder family
The Schröder family is a Hanseatic family of Hamburg, that is, a family that belonged to the historical ruling class of grand burghers (also known more broadly in English as patricians) of the city republic prior to the constitutional changes in ...
, a prominent
Hanseatic
The Hanseatic League (; gml, Hanse, , ; german: label=German language, Modern German, Deutsche Hanse) was a Middle Ages, medieval commercial and defensive confederation of merchant guilds and market towns in Central Europe, Central and Norther ...
family of
Hamburg
(male), (female) en, Hamburger(s),
Hamburgian(s)
, timezone1 = Central (CET)
, utc_offset1 = +1
, timezone1_DST = Central (CEST)
, utc_offset1_DST = +2
, postal ...
with branches in other countries. The Schroder family, through trustee companies, individual ownership and charities, control 47.93 per cent of the company's ordinary shares.
History
Schroders' history began in 1804 when
Johann Heinrich Schröder
Johann Heinrich Schröder (12 December 1784 – 28 June 1883) was a member of the Hanseaten (class), Hanseatic Schröder family of Hamburg, who settled in London and founded Schroders, one of the United Kingdom's largest investment banks.
Ear ...
(John Henry) became a partner in J.F. Schröder & Co, the London-based firm of his brother, Johann Friedrich (John Frederick), founded in 1800. In 1818 J. Henry Schröder & Co. was established in London.
During the
American Civil War
The American Civil War (April 12, 1861 – May 26, 1865; also known by other names) was a civil war in the United States. It was fought between the Union ("the North") and the Confederacy ("the South"), the latter formed by states th ...
, Schroders "issued £3m bonds in 1863 for the
Confederacy."
Key events in the development of the business include the establishment of J Henry Schroder Banking Corporation ('Schrobanco') as a
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with co ...
in New York in 1923, the public offering of the shares in J. Henry Schroder & Co. Ltd on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
in 1959 and the acquisition of Helbert, Wagg & Co, a leading issuing house, in 1962.
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
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing i ...
, whose activities more closely mirrored those of the London business.
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 Sir Winfried Franz Wilhelm "Win" Bischoff (born 10 May 1941) is an Anglo- German banker and former chairman of Lloyds Banking Group. He previously served as chairman and interim CEO of Citigroup in 2007. He was succeeded as CEO by Vikram Pandit on ...
. Schroders was worth £30 million when he took over as
CEO in 1984; in 2000 the company sold its investment banking division to
Citigroup for £1.3 billion. Citigroup's European investment banking arm traded as Schroder Salomon Smith Barney from 2000 to 2003.
In 2013, Schroders purchased the capital management arm of
Cazenove in a deal worth £424 million.
Schroders bought the London-based
Sandaire Investment Office
Sandaire Investment Office is an investment office that delivers tailored investment portfolios and solutions for wealthy families and foundations. The firm serves 45 families and manages in excess of £3bn in assets.
The firm, which is based ...
in September 2020.
Schroders announced in June 2021 that it was uniting its specialist private assets capabilities under the newly launched Schroders Capital brand.
Current operations
In April 2012, Schroders acquired a 25% stake in
Axis Mutual Fund
Axis Mutual Fund is an asset management company in India. It was established in the year 2009 and has its headquarter in Mumbai.
Axis Mutual Fund offers various types of mutual fund schemes to invest in India, such as equity funds, hybrid funds ...
.
In December 2021, the firm signed up to the
UN's Women Empowerment Principles, an initiative to support women in the workplace which was founded by the
United Nations Global Compact
The United Nations Global Compact is a non-binding United Nations pact to encourage businesses and firms worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. The UN Global Compact is a princi ...
and
UN Women
The United Nations Entity for Gender Equality and the Empowerment of Women, also known as UN Women, is a United Nations entity working for gender equality and the empowerment of women. UN Women advocates for the rights of women and girls, and focu ...
.
As at 31 December 2021, Schroders was responsible for assets worth £615.2 billion on behalf of clients including corporations, insurance companies, local and public authorities, charities, pension funds, high-net-worth individuals and retail investors.
Collaboration with universities
In June 2014, Schroders' Multi-Asset Investments and Portfolio Solutions (MAPS) announced a collaboration with Professor
Anthony G. Constantinides, Director of the newly created
Imperial College Financial signal processing
Financial signal processing is a branch of signal processing technologies which applies to signals within financial markets. They are often used by quantitative analysts to make best estimation of the movement of financial markets, such as stock ...
Laboratory (FSP).
Notable current and former employees
Business
*
Geoffrey Bell – chairman of
Guinness Mahon
Guinness Mahon was an Irish merchant bank originally based in Dublin but more recently with operations in London.
History Formation
The firm was founded as a land agency in Dublin in 1836 by barrister Robert Rundell Guinness, a great-nephew of ...
(1987–1993) and founder of the
Group of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sect ...
*
Winfried Bischoff Sir Winfried Franz Wilhelm "Win" Bischoff (born 10 May 1941) is an Anglo- German banker and former chairman of Lloyds Banking Group. He previously served as chairman and interim CEO of Citigroup in 2007. He was succeeded as CEO by Vikram Pandit on ...
– chairman of
Lloyds Banking Group
Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank w ...
(2009–2014)
*
Andrew Knight – editor of
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Econo ...
(1974–1986)
Politics and public service
*
David Ogilvy, 13th Earl of Airlie
David George Coke Patrick Ogilvy, 8th (or 13th) Earl of Airlie, (born 17 May 1926) is a Scottish peer.
Background and education
Airlie is the eldest son of David Ogilvy, 12th Earl of Airlie and Lady Alexandra Coke. His younger brother was Sir ...
–
Lord Chamberlain
The Lord Chamberlain of the Household is the most senior officer of the Royal Household of the United Kingdom, supervising the departments which support and provide advice to the Sovereign of the United Kingdom while also acting as the main cha ...
(1984–1997)
*
Gordon Richardson – governor of the
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of ...
(1973–1983)
*
James Wolfensohn
Sir James David Wolfensohn (1 December 193325 November 2020) was an Australian-American lawyer, investment banker, and economist who served as the ninth president of the World Bank Group (1995–2005). During his tenure at the World Bank, he is ...
– president of the
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...
(1995–2005)
*Sir
KBE, JP, MA –
financial secretary of Hong Kong (1981–1986). Sir John Henry Bremridge served as a non-executive director of Schroders plc.
Other
*
Avery Rockefeller
Avery Rockefeller (September 11, 1903 – May 22, 1986) was an American investment banker and conservationist who was a member of the Rockefeller family.
Early life
Rockefeller was born on September 11, 1903, to Percy Avery Rockefeller and Isabel ...
– member of the
Rockefeller family
The Rockefeller family () is an American industrial, political, and banking family that owns one of the world's largest fortunes. The fortune was made in the American petroleum industry during the late 19th and early 20th centuries by brothe ...
*
Frank Cyril Tiarks
Frank Cyril Tiarks OBE (also known as F. C. Tiarks) (9 July 1874 – 7 April 1952) was an English banker.
Family
He was son of Henry Frederick Tiarks (23 December 1832 - 18 October 1911), banker, partner in J. Henry Schröder & Co. in Lond ...
– director of the Bank of England (1912–1945); and High Sheriff of Kent (1927)
References
Further reading
*
External links
*
Schroders Talkingpoint
{{Authority control
British companies established in 1804
Investment banks
Former investment banks
Companies listed on the London Stock Exchange
Investment management companies of the United Kingdom
Financial services companies based in the City of London
Banks established in 1923
1804 establishments in England