View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
February 12, 2009

Schroders Private Banking profits down by 4%

By Spear's

Private banking profits at Schroders fell 4 percent last year to a still-resilient £39.7 million, with net new business of £0.4 billion over the course of the year.

Private banking profits at Schroders fell 4 percent last year to a still-resilient £39.7 million, with net new business of £0.4 billion over the course of the year. Funds under management within private banking grew £2 billion over 2008, to hit £11.7 billion.

Asset management profits fell 6 percent at the group, while funds under management fell 21 percent to £110.2 billion. Schroders blamed both falling equity markets and investor withdrawals for the retreat. Meanwhile, redundancy costs made a one-off charge of £18.7 million for the division.

For further details, visit thewealthnet

Content from our partners
Stoneweg, Icona, and CBH Strengthen Partnership with Cromwell Acquisition, Adding €4 Billion AUM to Stoneweg
Why investors should consider investing in nature
HSBC Global Private Banking: Revisiting your wealth plan as uncertainty abounds

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network