Schroders Capital CEO to leave as Nuveen takeover nears completion
Schroders Capital chief executive Georg Wunderlin is set to leave the asset manager as Schroders completes its integration with US-based Nuveen, with group CEO Richard Oldfield expected to take direct responsibility for the private markets business, according to a report by Bloomberg.
Georg Wunderlin, the CEO of Schroders Capital, is set to depart the asset management firm as it nears the completion of its £9.9 billion takeover by US-based Nuveen. According to a Bloomberg report, Richard Oldfield, the group CEO, will assume direct responsibility for the private markets business post-integration. Wunderlin joined Schroders in 2019, initially leading private assets before becoming CEO of Schroders Capital less than two years ago.
He will continue to serve until the end of October. Prior to Schroders, Wunderlin held senior positions at alternative investment manager HQ Capital and UBS, where his career began with Boston Consulting Group. Schroders' spokesperson stated that Wunderlin's departure is appropriate given the completion of the current phase of the business's expansion from $38 billion in assets in 2019 to $116 billion today.
The acquisition will consolidate the two asset managers into a business overseeing approximately $2.5 trillion in assets. Additional senior management changes are anticipated as the integration unfolds. Earlier this month, Schroders announced that Elizabeth Corley, the former CEO of Allianz Global Investors and chair of the company, would also be leaving.
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