Sandaire will join Schroders’ wealth management business Cazenove Capital, which acts as an adviser to families of significant wealth, family offices and endowments.
According to Schroders, this deal provides an “exceptional opportunity” to grow Cazenove Capital’s position in the ultra high net worth sector.
As at June 30, 2020 Cazenove Capital is responsible for £35.6bn of client assets.
Sandaire was founded in 1996 when Provincial Insurance, the business originally founded by Sir James William Scott in 1903, was sold to Axa.
Sandaire was established initially to preserve and grow the wealth of the family and, under the leadership of its founder, Alex Scott, grew to provide advice to other multi-generational families of significant wealth.
Peter Hall, head of wealth management at Schroders, said the acquisition will “create one of the UK’s top multi-family offices and be a springboard for developing an exceptional global service in this space”.
Mr Scott, founder of Sandaire, said: “Our family has chosen to partner with Schroders in recognition that by combining Sandaire’s specialist expertise in the family office field, Cazenove Capital’s leading position as adviser to families of significant wealth in the UK, and Schroder’s impressive global reach and investment capability, there is the opportunity to deliver a truly distinctive proposition to our family members and fellow clients.”
amy.austin@ft.com
What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know
