Nuveen will acquire Schroders for 100 billion, ending its 200-year independent history and creating a giant asset management firm.

The investment management company Nuveen, a subsidiary of the American Teachers Insurance and Annuity Association, will acquire Schroders for 9.9 billion, creating one of the world's largest active investment management firms with assets under management close to $2.5 trillion. This deal will also mark the end of over two centuries of independence for the UK's largest independent asset management company, as Schroders is one of the few remaining legacies of London's financial history dominated by merchant bankers. The Schroders brand will be retained. London will serve as the non-US headquarters and largest office location for the merged group, with approximately 3,100 employees.