News releases

Schroders to offer wealth management services to US individuals

26/06/2017

Schroders today announces that it has established a new London-based company, Schroder Wealth Management (US) Limited (‘Schroder Wealth US’) which will form part of its Wealth Management Division and sit alongside its existing UK subsidiary, Cazenove Capital. Subject to regulatory approval, Schroder Wealth US will specialise in offering wealth management services to high net worth US clients resident in the UK or North America. Banking and custody services will be provided by a reputable third party custodian with specific expertise in catering for the reporting needs of US residents and US taxpayers.

Martin Heale has been appointed to head up the newly created US Wealth Management team at Schroder Wealth US. He will join in August from RBC in London where he was a Managing Director in the Americas Private Wealth Team since 2011. He will bring with him 25 years’ experience in the private wealth management industry; prior positions held by Martin include Head of Private Wealth Management at Kleinwort Benson which he joined in 2005 and UK Team Head at Barclays Private Bank.

As the business develops, further specialist resources will be committed to the team which will be supported by the Group’s significant investment, operational and control infrastructure. Mary-Anne Daly will take on the role of Chief Executive of Schroder Wealth US alongside her current role as Chief Executive of Cazenove Capital in the UK.  

The establishment of Schroder Wealth US provides the opportunity for Schroders to access the very significant, fast growing US Private Wealth Market, with a specific focus on internationally-minded US investors who are attracted by the financial standing and reputation of London as an additional centre of excellence for international wealth management. It also allows Schroders to better service American expatriates living in the UK for whom the choice of managers has become increasingly restricted following changes in regulation. 

Mary-Anne Daly, UK Chief Executive, Cazenove Capital, said:

"This is an exciting development for our business. We have a long experience of managing US clients resident in the UK and are fully familiar with their complex investment and reporting requirements. The recruitment of such an experienced individual as Martin reinforces our commitment to serving US clients including those living in the US."

Andrew Ross, Global Head of Wealth Management at Schroders, said:  

"With our global investment expertise, a growing presence in the US and our long-standing wealth management experience, Schroders is perfectly placed to provide this service and I am delighted to be able to offer it to clients. We now manage circa $50 billion* of assets for private clients and charities globally and this development is fully aligned with our wider growth strategy."

*As at 31 March 2017

For further information, please contact:

Sarah Deutscher
Tel: +44 (0)20 7658 6139 / Sarah.Deutscher@schroders.com                                                  
Charlotte Banks
Tel:+44 (0) 20 7658 2589 / Charlotte.Banks@Schroders.com

 

Note to Editors

Schroders plc

Schroders is a global asset management company with responsibility for £416.3 billion ($520.6 billion) of assets under management and administration as at 31 December 2016.  Our clients are major financial institutions - including pension funds, banks and insurance companies - local and public authorities, governments, charities, financial advisers, high net worth individuals and retail investors.   

With one of the largest networks of offices of any dedicated asset management company, we operate from 41 offices in 27 countries across Europe, the Americas, Asia, Middle East and Africa. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business.

Wealth Management

As a long-established wealth manager with an absolute focus on preserving and growing our clients’ wealth, what matters most to our clients, matters most to us. 

Private individuals, family offices, trusts, institutions and charities all rely on us to provide them with bespoke wealth management services. Skilled in investment management, wealth planning and banking services – we also offer discretionary fund management to external advisers and are the leading charity fund manager in the UK. 

For two centuries we have helped clients look forward to a successful future. With each client, we plan for the long term and invest the time to gain a detailed understanding of their unique circumstances, goals and ambitions. The majority of our clients work with us for years, decades and even generations. This creates relationships of unusual depth.

The value of your investments and the income received from them can fall as well as rise. You may not get back the amount you invested. Cazenove Capital Management is a trading name of Schroder & Co. Limited. Registered Office at 31 Gresham Street, London EC2V 7QA. Registered 2280926 England. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. For your security, communications may be taped or monitored.