Schroders' wealth arm profits rebound as Caz deal provides boost

clock • 1 min read

Schroders today said profits at its wealth management business had rebounded sharply following the takeover of Cazenove in July, while asset management profits also jumped as the business moved on from the loss of star manager Richard Buxton.

Announcing its full year results for 2013, the asset management giant said profits at both its asset management and wealth management businesses had soared. Its wealth management arm, buoyed by last year's takeover of Cazenove Capital, saw profits triple from £11.8m to £34.3m. Asset management - supported by resurgent markets - also saw profits jump from £348.5m to £468.6m. In terms of flows, the asset management business attracted net inflows of £9.4bn, with market gains adding a further £13.7bn. Including acquisitions AUM rose from £195.7bn to £232.8bn. As a result of the loss...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot