Bringing you live news and features since 2006 

Schroders acquires independent Asian wealth manager Thirdrock


Schroders Wealth Management is to acquire the wealth management business of Thirdrock Group. Founded in 2010 and based in Singapore, Thirdrock is an independent asset manager with client assets under management of SGD3 billion (GBP1.7 billion).

As part of the acquisition, Thirdrock will be merged with Schroders’ existing Singaporean business and operate under the Schroders’ brand. Thirdrock employees, including Client Advisers and Portfolio Managers with proven investment expertise as well as the existing management team, will transition to Schroders Wealth Management offices in Singapore.
Jason Lai, CEO and founder of Thirdrock Group, will take on the leadership of Schroders Wealth Management in Asia as Head of Wealth Management Asia, and spearhead the drive to strongly grow the business across the region. Melvyn Yeo, Chair of Investment Committee and co-founder of Thirdrock Group, will take on the role of Deputy Head of Wealth Management Asia.
Both will work closely with Simon Lints, Head of Wealth Management in Singapore and Robert Ridland, Head of Wealth Management in Hong Kong.
Peter Hall, Global Head of Wealth Management at Schroders, says: “We have the opportunity to create a unique business model in Asia, combining the institutional investment expertise, leading brand and extensive network of Schroders with the entrepreneurialism, open architecture and personal service of an independent asset manager.”
“This deal, combined with our recently announced partnership with Maybank, highlights our ambition to build a leading wealth management business in the region. Jason and his team are excellent additions to our existing team and Jason will now take the lead in achieving that ambition and hiring top talent within the region.”
Jason Lai, CEO and founder of Thirdrock Group, says: “We are delighted to be joining Schroders. Being part of a well-resourced global investment and wealth management business provides Thirdrock with access to greater investment expertise and enhances our proposition for clients. This, together with Schroders’ stable ownership structure, long-term approach, heritage and brand strength in Asia will be attractive to our clients and employees alike.”
The financial terms of the acquisition, which is expected to complete in Q2 2019, have not been disclosed.

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by