Schroders has agreed to sell its advice business, Benchmark, to Söderberg & Partners.
The firm said the move accelerates the reshaping of its strategic focus on wealth management, centred on Cazenove Capital in the UK and Schroders Wealth Management internationally.
The deal also adds to existing collaboration between the firms, with Schroders becoming a “long-term asset management partner” to Söderberg & Partners.
The Swedish group, which has £108bn in assets and 5,500 staff across the UK and continental Europe, said the takeover provides Benchmark with the ownership structure, investment, and strategic backing to support its next phase of growth.
Perella Weinberg Partners and Slaughter and May acted as advisers to Schroders on the deal. Fenchurch and White & Case acted as advisers to Söderberg & Partners.
Oliver Gregson, CEO of wealth management at Schroders, said: “This transaction marks another important milestone in delivering the wealth management strategy we set out in 2025.
”It further sharpens our focus, enabling us to concentrate our investment, expertise and ambition behind the clients and markets where we have the strongest right to win and where we believe we can create the greatest long-term value.”
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Phil Middleton, head of client group, UK, Middle East and Africa, at Schroders, said: “This long-term investment management relationship with Söderberg & Partners enables Schroders to remain closely connected to a significant advice-led wealth platform, while bringing the strength of our active investment management capabilities to the wider Söderberg & Partners business.”
Gustaf Rentzhog, CEO of Söderberg & Partners, added: “Achieving greater scale is important for the future to enable us to offer efficient solutions and world-class services to both advisers and clients, particularly when it comes to technology.
“This acquisition is an important piece of the puzzle, and one that we believe we can realise together with Benchmark.”
