Schroders looking to expand US business

Otmane El Rhazi, Tuesday, April 8: Schroders (LON:SDR) is planning to hire more investment staff for its multi-asset team in the US as the FTSE 100 asset management and private banking group looks to double the revenue it earns in the world’s biggest economy. As of 10.40 BST, Schroders’ shares were trading 36.00p or 1.35 percent lower at 2,634.00p.

Karl Dasher, chief executive of the North American unit, has indicated multi-asset investing as the area where the company has the greatest demand for new employees as it looks to grow its brand. Schroders is trying to persuade potential US clients that its strengths lie beyond niche areas like international equities and extend to fixed income, core equity and multi-asset allocations. The company has more than $9.3 billion (₤5.6 billion) of US assets under management, predominantly from insurance clients. It filed an application last month to the Securities and Exchange Commission for launching its first multi-asset retail funds in the US.

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