Cazenove shareholders give green light to Schroders deal

Cazenove Capital's shareholders have approved the proposed acquisition of the business by Schroders for £424m.

The deal, which will significantly strengthen Schroders' private banking, wealth management and funds businesses, was voted through by Cazenove shareholders today. A total of 98% of Cazenove shareholders gave the deal the green light. At least 75% of Cazenove shareholders were required to approve the deal for it to go through. Cazenove's £17.2bn in assets under management will push Schroders' total AUM to around £250bn, adding £5.1bn to its funds business and creating a private banking business worth approximately £30bn. Schroders will continue to use the Cazenove name within i...