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The deal is the latest between active money managers trying to keep up with passive investment giants like BlackRock and Vanguard as well as private-market specialists. The takeover would also end the independence of one of London’s last remaining major financial dynasties, after American and European banks swooped on the City in the 1980s and 1990s.
“This isn’t about giving up on Schroders. The brand’s going to remain the same,” said Chief Executive Richard Oldfield, who would remain in place if the deal goes through.
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