Schroders reaches agreement to acquire Sandaire
The deal forms part of the group’s overall strategy to grow its wealth management business.
Schroders today announces that it has reached an agreement to acquire London-based family office Sandaire. The deal is in line with the group’s overall strategy to grow its wealth management business.
This provides an exceptional opportunity to grow Cazenove Capital’s leading position in the UK Ultra-High-Net-Worth segment and to offer an exceptional global service to multi-jurisdictional families and their advisers through our wealth management businesses in the Channel Islands, Switzerland and Asia.
The deal will combine the boutique-style service of Sandaire with the depth of international investment expertise and financial stability and strength of Schroders, a FTSE 100 company still largely owned by the family who founded it over two centuries ago.
Sandaire will join Schroders’ Wealth Management business Cazenove Capital, one of the UK’s leading advisers to families of significant wealth, family offices and endowments.
The Scott family founded Sandaire in 1996 when Provincial Insurance, the family business originally founded by Sir James William Scott in 1903, was sold. Sandaire was established initially to preserve and grow the wealth of the family and, under the leadership of its founder, Alex Scott, grew to provide advice to other multi-generational families of significant wealth.
The transaction is subject to regulatory approval. Its financial terms are not being disclosed.
