Global asset management firm Nubian Asset Management has completed its acquisition of Schroders. The merger of the two companies has resulted in a global asset manager with approximately 4,000 trillion won in assets under management (AUM).
Nubian announced on October 1 that it had finalized the acquisition of Schroders. The combined firm now has total assets under management of $2.6 trillion, equivalent to about 4,000 trillion won.
With this acquisition, the integrated firm ranks among the top 10 globally in active equities, active bonds, and private markets. It serves a diverse clientele, including institutional investors and wealth management (WM) clients, operating in over 40 markets worldwide.
Notably, the assets under management in private markets alone amount to $400 billion. The integrated firm plans to reorganize its private market platform by asset class and establish a unified investment platform that encompasses both public and private markets.
William Huffman, CEO of Nubian, stated, "The combination of Nubian and Schroders presents an opportunity to reshape the investment landscape and provide differentiated value to our clients. We will build a platform that combines investment capabilities in major capital markets with tailored solutions for our clients."
Nubian's parent company, the Teachers Insurance and Annuity Association (TIAA), will continue to support the integrated firm. TIAA has been a long-term shareholder of Nubian, backing its long-term investments and business expansion regardless of market conditions.
Schroders will operate independently under Nubian for the next 12 to 18 months. Richard Oldfield, CEO of Schroders Group, will continue to lead the existing organization and report directly to Huffman.
The integration of investment organizations will occur gradually. The Chief Investment Officer (CIO) of the integrated investment platform will be Syrah Malik, the CIO of Nubian. Johanna Kirkland, CIO of Schroders, will oversee the public markets and solutions division of the integrated firm, managing equities, bonds, multi-asset, and solutions businesses.
Nubian and Schroders plan to maintain their existing asset management and WM investment organizations for at least 12 to 18 months to ensure continuity in managing client assets. Schroders' WM business, Kazenov Capital, will also remain a key focus of the integrated firm.
Additionally, London, the headquarters of Schroders, will serve as the largest overseas office and a secondary headquarters for the integrated firm outside the U.S. The integrated firm aims to expand its global operations with key hubs in the U.S., U.K., Europe, and the Asia-Pacific region.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.