Nuveen finalizes the purchase of Schroders: this is the new manager of 2.6 trillion dollars
1 OCT, 2026
By Joanna Piwko from RankiaPro Europe
Nuveen has completed the acquisition of Schroders today, a transaction that results in the only manager ranked among the top ten in the world in active management of equities, fixed income, and private markets.
The combined entity, led by William Huffman, CEO of Nuveen, manages 2.6 trillion dollars in assets and is present in more than 40 markets, while Schroders will continue to operate independently for the next 12 to 18 months.
An active platform between public and private markets
The resulting group operates through institutional and wealth management channels, with a significant presence in the United States, United Kingdom, Europe, and Asia-Pacific. The operation unites two businesses that the company itself defines as highly complementary.
Our historic merger provides us with a unique opportunity to redefine our sector and offer clients a proposition that did not exist until now. Together, we will create a platform with leading investment performance in the main capital markets, with the necessary flexibility to adapt solutions to the specific objectives of clients. We will offer excellence in investment and global reach, backed by the credibility granted to us by decades of presence on the ground around the world.
William Huffman, CEO, Nuveen
The new firm will continue to invest in capabilities, personnel, and proposals for clients with the ongoing support of TIAA, a long-term shareholder of Nuveen that invests alongside clients and has supported its strategic priorities throughout the various market cycles.
Nuveen is essential for us to provide lifetime income and financial security to millions of people. The completion of this acquisition results in one of the largest active asset management firms globally, with the reach, talent, and capabilities necessary to compete and succeed in all relevant markets. This union accelerates our strategy and strengthens the investment capabilities that drive our retirement products and annuities, which consolidates our ability to fulfill our mission of providing lifetime income to future generations.
Thasunda Brown Duckett, CEO, TIAA
Saira Malik will lead the unified investment platform
The merged entity intends to build, over time, a unified investment platform for the entire range of capabilities in public and private markets. At the helm will be Saira Malik, who will hold the position of Chief Investment Officer and will report to Huffman.
Johanna Kyrklund will become Chief Investment Officer of Public Markets and Solutions, with responsibility over equities, fixed income, multi-assets and solutions, and will ultimately report to Malik.
The company will organize its combined private markets platform, valued at 400 billion dollars, by asset classes. This is the area where Schroders Capital has just closed its largest private equity fund with 1.3 billion dollars.
The combined platform, from public to private markets, will offer new approaches to retirement income management, greater capital efficiency in insurance portfolios and greater customization in wealth management.
Continuity for clients during integration
Schroders will continue to operate independently within Nuveen under the direction of Richard Oldfield, CEO of the Schroders group, who will report to Huffman. Both firms plan to maintain their current investment teams for at least 12 to 18 months, both in asset management and wealth management, while planning the integration.
Today's milestone is an extraordinary moment for our clients and our business. The world is changing rapidly at this time, so we believe that active management is more relevant than ever: it helps clients weather uncertainty and achieve the results they need. By combining our complementary strengths in active investment, we will offer more to our clients and have more growth opportunities, backed by a shared culture focused on investment, a long-term perspective, and a strong tradition.
Richard Oldfield, Group CEO, Schroders
The wealth management business of Schroders, including Cazenove Capital, is considered a key strategic element of the merged entity. Under Huffman's direction, Matt Oomen will lead global client attention and will be responsible for facilitating access to the full range of services.
London will be the headquarters of the merged entity outside the US and also its largest office, with key leadership positions located in the UK.
