Schroders' chief executive Michael Dobson has cautioned against further acquisitions, saying the firm will now focus on organic growth after completing a string of deals over the past year.
Dobson (pictured) said the group will not become an "acquisition led firm", arguing recent deals were made to address gaps in its product range. Last year Schroders acquired a 25% stake in Indian fund firm Axis Asset Management, while in April the firm strengthened its US fixed income business with the acquisition of STW Fixed Income. Schroders is also due to complete the £424m takeover of Cazenove Capital in July, in a deal which will significantly enhance the firm's private client and wealth management businesses. Dobson said there are now "no obvious gaps" in the group's product...
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