Today, Schroders announced that it had reached an agreement for the acquisition of Saindair, a family office based in London. This stands in line with the Schroders’ overall strategy of increasing its growth within the wealth management business sector.
Improving The 1%’s Services
With this acquisition, an exceptional opportunity has been presented to the UK ultra-high-net-worth segment of Cazenove Capital. Alongside this, the opportunity to offer an exceptional global service to multi-jurisdictional families, as well as their advisors, is now available through its various wealth management businesses. These businesses are spread across Switzerland, the Channel Islands, as well as Asia.
With this deal, Sundaire will be capable of combining its boutique-style services with financial stability, strength, and expertise of international investment that Schroder provides. Schroder itself stands as an FTSE 100 company, primarily owned by the family that had founded it more than two centuries prior.
A Bit of History
Sandaire will join Cazenove Capital, the Wealth management business arm of Schroders. Cazenove Capital stands as one of the leading advisors to various families of significant family offices, wealth, and endowments.
Sandaire was founded by the Scott family, back in 1996. This came as a result of the original business, Provincial Insurance, which was founded by Sir James William Scott back in 1903, was sold. The goal of Sandaire at its establishment was only to preserve and grow the wealth of the family. Thanks to the leadership of its founder, Alex Scott, however, they grew to provide advice to other multi-generational families of significant wealth, as well.
The Mandatory Kind Words
The deal itself has had its financial terms be hidden from the public at large, but what is known is that it still needs to be approved by the relevant regulators.
Alex Scott gave a few kind words about the development as a whole. Scott stated that he is proud of the business Sandaire had become, and is eager to see it grow thanks to the new ownership. He stated he was eager to work alongside Schroders Wealth in order to its offerings and services within the Family Office Sector.
Mary-Anne Daly stands as the CEO of Cazenove Capital, and stated that her company is convinced that these two companies joining together will bring great opportunities and benefits to both their clients. Daly stated that she was confident that this acquisition would allow the company to keep doing business for many generations to come.