On the go: Schroders has announced its intention to acquire River and Mercantile Group’s UK solutions division, consisting of its fiduciary management and derivatives businesses, for £230m.
The deal, which is subject to River and Mercantile Group’s shareholders’ and regulatory approval, is expected to be completed in the first quarter of 2022.
The acquisition of the division, with £42bn in assets under management, will allow Schroders to further strengthen its ability to meet the requirements of pension funds as they evolve, a statement read.
James Barham, chief executive of River and Mercantile Group, will join Schroders to continue to lead the solutions division, reporting to Peter Harrison, Schroders’ group CEO.
The acquired division will retain its approach to strategic advice, investment process, integrated implementation and service model, Schroders stated.
Harrison said: “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.”
