Schroders has completed the acquisition of River and Mercantile Group’s UK Solutions division (RMSD), just three months since announcing its intention to acquire the business.
This acquisition reaffirms Schroders strategy to provide clients with the highest quality solutions for their pension needs. Schroders Solutions aims to be the provider of choice for fiduciary management schemes and derivatives by offering an end-to-end solution through to buy-out with a specific focus on sustainability, climate integration and reporting.
The merged business has the commitment, reach and resource to help defined benefit and defined contribution schemes both large and small, address the challenges of delivering value and sustainable outcomes to all their members.
The acquisition has added RMSD’s £42 billion of assets in UK fiduciary management and derivatives, to Schroders Global Solutions business which already manages £193.3 billion and has employees in the US, Singapore, London and Germany.
Peter Harrison, Schroders Group Chief Executive commented:
“This acquisition further enhances our ability to meet the increasingly complex needs of pension fund clients and is consistent with our growth strategy. The business brings with it a well-respected team, with a strong track record of success and is a good cultural fit with Schroders. We see significant opportunities from this partnership.
“Schroders Solutions will maintain an open architecture framework, while having access to Schroders asset management investment capabilities, private assets business and extensive sustainability experience.”
James Barham will become Executive Chairman with responsibility for the newly combined Schroders Solutions business. Andy Connell will report into James as Head of Schroders Solutions.