Schroders has agreed to acquire Sandaire, the London-based family office established by Alex Scott, as part of an overall strategy of expanding its wealth management footprint both within the UK as well as international markets..

The financial terms of the transaction were not disclosed.

Sandaire will be encapsulated within Cazenove Capital, Schroders’ flagship wealth management subsidiary.

This will consolidate its position as a leading UK provider of wealth management services to the very rich.

At the end of 2019 client portfolio with more than £50 million of assets accounted for £20.5 billion ...