Schroders Plc employees long suspected the billionaire family who had controlled the City of London finance house for more than two centuries might eventually decide to sell. When the announcement came, though, it was still a surprise.
Bruno Schroder, the late scion of the finance firm, and a succession of chief executive officers had consistently ruled out merging the fund management business with another firm. Richard Oldfield, who took over as CEO to stabilize the business in late 2024, even said on Thursday that the company “was never for sale.”
Yet behind the scenes, a compelling reason for ...
