Schroders agrees to Takeover by TIAA's asset manager Nuveen for £9.9bn

Nuveen LLC, an American asset manager (led by CEO William Huffman, a former CEO of Northern Trust Global Investments for 17 years), which manages assets on behalf of TIAA, the Teachers Insurance and Annuity Association of America (led by Thasunda Brown Duckett), which has a century long focus on retirement security, has agreed to buy Schroders (led by Group Chief Executive Richard Oldfield) for almost ten billion GBP (1GBP=1.37USD, around the same level it was five years ago).