Schroders director buys stock as partnership is announced
Feb 06, 2012
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Robin Buchanan, an independent non-executive director of Schroders, the FTSE 100 asset management firm, has bought 205 non-voting ordinary shares in the firm for 1,212p each.
The move takes his total to 2,368 non-voting shares.
Buchanan, 59, joined the board in March 2010, and is a member of the firm's Audit and Risk Committee.
On the same day his purchase was announced, it was reported that food giant Nestlé had named Schroders as its partner in the running of an investment vehicle with its in-house asset manager.
In the announcement made on the Irish Stock Exchange, Robusta Asset Management, which is wholly-owned by Nestlé, appointed Schroders to manage its emerging markets fund.
Back in November, when the firm last released a set of results, revenues and profits were up on 2010 but the key "assets under management" figure (AUM) remained static during the third quarter.
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NR
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