Cazenove shareholders give green light to Schroders deal

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 £229.2bn, adding £5.1bn to its funds business and creating a £28.4bn private banking business. Schroders will continue to use the Cazenove name within its private banking unit,...