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Evening Standard

Business

Jonathan Prynn

City stalwart Schroders bought by US investment firm in £9.9bn deal

Schroders City United States London

Asset manager Schroders, one of the biggest and oldest names in the City, has been snapped up by a US investment company in a £9.9 billion deal.

The acquisition by Chicago based Nuveen - which is owned by the vast Teachers Insurance and Annuity Association of America (TIAA) - ends the independence of a stalwart of the Square Mile founded in 1804.

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