New York – – October 01, 2026 -- Nuveen has completed its acquisition of Schroders, creating a combined asset and wealth manager with $2.6 trillion in assets under management as of June 30, 2026.
Combined firm claims top-ten rank across three asset classes globally
The merged entity holds a top-ten global position in active equities, active fixed income and private markets, based on year-end 2025 data from Preqin, P&I, eVestment and company reports. It operates in more than 40 markets with significant presence across the US, UK, Europe and Asia-Pacific.
TIAA backs deal as parent shareholder
TIAA CEO Thasunda Brown Duckett said the acquisition strengthens investment capabilities feeding TIAA's retirement and annuity products. TIAA paid out more than $6.17 billion in annuity income to retired clients in 2025.
Schroders to operate separately for 12-18 months under Oldfield
Richard Oldfield, Group Chief Executive of Schroders, will continue leading Schroders' operations within Nuveen for the next 12 to 18 months, reporting to Nuveen CEO William Huffman. Existing investment teams across both asset and wealth management will remain in place during this integration window.
$400 billion private markets platform to be reorganized by asset class
The combined firm intends to build a unified investment platform spanning public and private markets, led by Saira Malik as Chief Investment Officer reporting to Huffman. Johanna Kyrklund will become Chief Investment Officer of Public Markets & Solutions, overseeing equities, fixed income, multi-asset and solutions, eventually reporting to Malik. The firm's $400 billion private markets platform will be organized by asset class.
London becomes non-US headquarters, building on Schroders legacy
London will serve as the combined firm's largest office and non-US headquarters, with key leadership roles based in the UK. Matt Oomen will lead global client coverage, reporting to Huffman, while Schroders' wealth management businesses, including Cazenove Capital, remain central to the combined strategy.