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LON100:SDR, Nov 15, 03:34 UTC

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Wednesday, November 07


Social Chatter

Schroders PLC (LON100:SDR) social chatter is higher than usual

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🚨SENIOR SHIFT🚨 #Gars chief Guy Stern to retire and exit @ASInvestmentsUK in 2019. Coming in as head of global multi-asset is Aymeric Forest, formerly of @Schroders. More on the switch below ➡️https://t.co/ykS3jpyj8W ✏️@chris_sloley & @JecaBeard

Monday, November 05


News

GAM knocks back Schroders' Cantab acquisition attempt - Reports

SDR

GAM knocks back Schroders' attempt to buy hedge fund unit - reports. According to Financal Times, Schroders approached the Swiss asset manager with an interest in its hedge fund business, but the firm rebuffed the purchase attempt due to concerns that selling one of its key assets would render an overall sale more difficult. In recent months GAM has said it is exploring options to maximise shareholder value, including an outright sale of the business, amid mounting pressure on chief executive Alexander Friedman to stabilise the Zurich-listed group. However, GAM's Systematic division has performed relatively well in recent months, as evident from the firm's third-quarter trading update. UBS has recently indicated that it could seek to bolster its asset management division via acquisitions and industry insiders told the FT that buying GAM's Systematic unit could fit in well with its plans. However, analyst at Zurich-based bank Baader Helvea, Tomasz Grzelak said that as a result of the SFr59m write-off at Cantab, the value of GAM Systematic division is now roughly half of what it originally paid for it.

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News

GAM rejects Schroders bid for hedge fund arm

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Embattled GAM has turned down a Schroders bid for its hedge fund business Cantab Capital Partners, according to to the Financial Times. It is understood the bid was rebuffed because GAM’s management felt the wider business would be harder to sell if it disposed of Cantab beforehand. Talk has mounted that GAM would be sold after it was sent reeling by the suspension of absolute return hedge fund manager Tim Haywood (pictured below) over allegations of improper trading and oversight. Cambridge-based Cantab is a systematic quantitative hedge fund business, founded by the former head Goldman Sachs’ European strategies group, Erich Schlaikjer in 2006.

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Sunday, November 04


Social Chatter

Friday, November 02


News

Lloyds to move 300 of its advisers to Schroders venture

SDR LLOY

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Around 300 advisers are being moved from Lloyds to the new joint venture (JV) with Schroders, with the bank also revealing it could make advice acquisitions. In the wake of research that suggested that 58% of advisers were not aware of the Financial Conduct Authority's 'Prod' rules, we dug deeper to find out the best way to comply. Comment: IFAs should not be complacent over life expectancy. While the rate of life expectancy increases has slowed, the population of over-80 year-olds is getting larger and advice for this group will become more important than ever. IFA writes to MPs about 'derisory' FSCS British Steel offers.

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Tuesday, October 23


In The News

Schroders PLC (LON100:SDR) article volume is higher than usual

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EXTRA: Lloyds, Schroders To Create Joint Wealth Management Firm view top sourcebeta

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lse.co.uk
News

Lloyds and Schroders agree strategy for £80bn wealth management tie-up

SDR LLOY

Lloyds and Schroders, two of the City's biggest blue chip companies, have reached an agreement on an £80bn tie-up of their wealth management businesses. High street bank Lloyds has been looking for a new home for £109bn worth of assets since it announced plans to ditch its long-standing manager Standard Life Aberdeen earlier this year. Lloyds confirmed it has agreed to transfer the bulk of those assets to Schroders, after striking a separate deal to move £30bn to Blackrock. Lloyds is hoping to benefit from its new partner’s technology and investment management expertise, while Schroders gets access to the bank's huge customer base and branch network.

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News

Schroders nets £80bn mandate from Lloyds

SDR LLOY

Schroders is set to land an £80bn (€90.7bn) mandate from Scottish Widows, part of Lloyds Banking Group, it announced today. The FTSE 100-listed investment house has agreed a strategic partnership with Lloyds, including a new £13bn wealth management joint venture due to start operations in the second half of next year. The contract between Schroders and Lloyds was for “at least five years”, the two firms said in a joint statement, to begin when the dispute with SLA has been settled or when the current contract expires in 2022. The huge contracts have been up for tender since February, when Scottish Widows launched a review of its asset management arrangements and terminated its partnership agreements with SLA.

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ipe.com ipe.com
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In The News

Schroders PLC (LON100:SDR) article volume is higher than usual

SDR
EXTRA: Lloyds, Schroders To Create Joint Wealth Management Firm view top sourcebeta

Story Sources

lse.co.uk
News

Lloyds, Schroders set up wealth management joint venture

SDR LLOY

LONDON, Oct (Shenzhen: 000069.SZ - news) 23 (Reuters) - Lloyds Banking Group and Schroders said on Tuesday they had struck a multi-billion pound wealth management deal aimed at changing the way Britons save and invest. Schroders, Britain's second largest listed fund management group by assets under management and Lloyds Banking Group, Britain's biggest retail lender, said earlier this month they were in talks on a joint-venture agreement. Under deal, the biggest of its kind in recent years between a British bank and fund manager, Lloyds and Schroders will create a financial planning joint venture. Lloyds will transfer 13 billion pounds of assets and associated advisers from its existing wealth management business to the joint venture, and a further 400 million pounds of existing private clients assets will transfer to Schroders as soon as possible, the companies said in a joint statement.

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