Wells Fargo Securities to acquire Schroders in £9.9 billion deal

Global law firm White & Case advising on the massive asset management merger

Published on Feb. 13, 2026

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Wells Fargo Securities International Limited, a subsidiary of Wells Fargo, has announced a £9.9 billion recommended takeover offer for Schroders plc, a major global asset management firm. The combined entity will have nearly $2.5 trillion in assets under management. Global law firm White & Case is advising Wells Fargo Securities on the transaction.

Why it matters

This acquisition represents a significant consolidation in the asset management industry, bringing together two major players with complementary strengths. The combined firm will become one of the largest asset managers globally, giving it greater scale and resources to compete in an increasingly competitive market.

The details

Under the terms of the deal, Nuveen, LLC, a subsidiary of Teachers Insurance and Annuity Association of America (TIAA), will acquire Schroders plc for £9.9 billion. The White & Case team advising Wells Fargo Securities on the transaction is being led by partners Patrick Sarch and Sonica Tolani in London, as well as Richard Brand and Denise A. Cerasani in New York.

  • The takeover offer was announced on February 13, 2026.

The players

Wells Fargo Securities International Limited

A subsidiary of Wells Fargo & Company, one of the largest financial services companies in the United States.

Schroders plc

A major global asset management firm headquartered in the United Kingdom.

Nuveen, LLC

A subsidiary of Teachers Insurance and Annuity Association of America (TIAA), a leading provider of financial services for the academic, research, medical, cultural and government fields.

White & Case

A global law firm advising Wells Fargo Securities on the transaction.

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The takeaway

This acquisition represents a significant consolidation in the asset management industry, creating one of the largest asset managers globally with nearly $2.5 trillion in assets under management. The combined firm will have greater scale and resources to compete in an increasingly competitive market.