Nubian Asset Management announced on October 1 that it has completed the acquisition of Schroders.
The merger of Nubian and Schroders creates a unique asset management firm that ranks among the top 10 globally in active equities, active bonds, and private markets.
The combined firm will manage $2.6 trillion (approximately 4,007.9 trillion won) in assets for institutional investors and wealth management clients. It operates in over 40 markets and has a strong presence in the United States, the United Kingdom, Europe, and the Asia-Pacific region.
William Huffman, CEO of Nubian, stated, "The historic combination of Nubian and Schroders is a once-in-a-lifetime opportunity to reshape the investment landscape and provide differentiated value to our clients. Together, we will build a platform that delivers leading investment performance across all major capital markets while designing tailored solutions that meet specific client objectives."
The integrated firm plans to continue its growth and innovation through investments in capabilities, talent, and client solutions. Support from the Teachers Insurance and Annuity Association (TIAA) is also expected to continue.
Tasunda Brown Duckett, CEO of TIAA, expressed optimism about the acquisition, saying, "This merger creates one of the largest global active asset management firms with a network and talent that can secure a competitive advantage in key markets. The combination will accelerate our strategy and enhance our investment capabilities for retirement and annuity products."
Schroders will be led by Richard Oldfield, Group CEO, who will operate independently under Nubian for the time being.
* This article has been translated by AI.
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