Schroders plc is looking to sell off its business in Indonesia as the UK asset manager focuses on operational efficiency under new leadership, according to two people familiar with the matter.
Talks have been ongoing for several months with potential suitors, a list that includes Bank Negara Indonesia (BNI), the fourth largest commercial lender in the country, these people tell Asia Asset Management (AAM).
Schroders Indonesia is “constantly in discussions with potential partners to ensure we continue to deliver exceptional service and value to our clients”, according to a company spokesperson.
“As a regulated financial institution, it is Schroders’ policy not to comment on specific market speculation or rumour,” the spokesperson says in an email reply to questions from AAM.
At Schroders’ annual general meeting on May 1, Richard Oldfield, who was promoted from chief financial officer to group chief executive last November, said the company will be focusing on revenue growth and cost efficiencies.
He said Schroders aims to achieve cumulative cost efficiencies of £150 million (US$107.88 million) from 2025 to 2027.
Schroders has shut down its private debt business in Australia since Oldfield became CEO. And Green Street News reported last week that the company has shut its Munich office.
Schroders had £778.7 billion of assets under management as of end-2024.
