Nuveen completes Schroders takeover as scheme becomes effective

Schroders and Nuveen said the court-sanctioned scheme of arrangement for Nuveen's cash acquisition of Schroders became Effective on October 1, 2026, after the Court Order was delivered to the Registrar of Companies. Pantheon, LLC — a wholly owned Nuveen subsidiary and TIAA company vehicle — now owns Schroders' entire issued and to be issued share capital, and Nuveen separately said the acquisition is complete.

The Effective announcement

Schroders' regulatory news service announcement (RNS Number 0498X) states that, following delivery of the Court Order to the Registrar of Companies today, the Scheme has now become Effective in accordance with its terms. The Court had sanctioned the Scheme on September 29, 2026; the Sanction announcement said a further notice would follow when the Scheme became Effective.

Under the Scheme, a shareholder on the register at the Scheme Record Time — 6:00 p.m. on September 30, 2026 — is entitled to 590 pence in cash for each Scheme Share. Settlement of that consideration is to be effected not later than 14 days after today's announcement, which the RNS identifies as October 15, 2026.

Trading suspension and delisting path

Admission to trading of Schroders shares on the London Stock Exchange's Main Market was suspended from 7:30 a.m. today. Share certificates for Scheme Shares cease to be valid documents of title, and CREST entitlements are being cancelled. Schroders and Nuveen said delisting from the Official List and cancellation of Main Market admission are expected to take effect by 8:00 a.m. on October 2, 2026.

Board changes at Schroders

With the Scheme Effective, Dame Elizabeth Corley, Claire Fitzalan Howard, Ian King, William Lin, and Annette Thomas ceased to be non-executive directors. William Huffman, Saira Malik, and Kevin McCarthy were appointed as non-executive directors. Matthew Westerman remains Non-Executive Chair; Iain Mackay, Frederic Wakeman, and Leonie Schroder remain on the board in their stated non-executive roles, alongside executives including Chief Executive Richard Oldfield.

What Nuveen said about the combination

In a New York-dated PR Newswire release, Nuveen said it completed the acquisition of Schroders and described the combined firm as managing about $2.6 trillion across institutional and wealth channels, with operations in more than 40 markets. Nuveen said the firm has a top-ten position globally in active equities, active fixed income, and private markets. Huffman, Nuveen's CEO, and TIAA CEO Thasunda Brown Duckett are quoted on the strategic rationale. Nuveen said that over the next 12 to 18 months Schroders will continue to operate separately within Nuveen, led by Group Chief Executive Richard Oldfield reporting to Huffman. Oldfield called the day a milestone for clients and the business and said active management is more relevant than ever amid rapid change. Separately, Nuveen and Schroders said they intend to maintain existing investment teams across asset and wealth management for at least 12 to 18 months as integration planning takes place.

Why Effective matters now

Court sanction on September 29 cleared the judicial step; Effective is the ownership transfer. Cash consideration, trading suspension, and the delisting timetable all run from today's RNS, and Nuveen's completion statement is the acquirer-side confirmation that the combination has closed for operational messaging.