Last week, U.K. asset manager Schroders agreed to a £9.9 billion ($13.3 billion) cash acquisition by U.S. counterpart Nuveen. If completed, the merger will create one of the world’s largest asset managers, with combined assets under management of $2.5 trillion, and will mark the end of the Schroders family’s long-standing control of the firm.Rather than simply signaling weakness in the City of London, the deal highlights the growing concentration of scale and distribution power in the United Sta...
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