Is Cazenove No Longer a Finance Name to Be Proud Of?

It was all there apart from one tiny detail. Announcing the takeover of Schroders Plc, US insurer Nuveen was silent on Cazenove Capital, the wealth-management business that’s arguably the UK fund manager’s star asset. Cazenove is a resonant name in the City of London. Not mentioning it seemed awfully bad manners — especially when the Americans were falling over themselves to big up the Schroders brand.
How Nuveen handles the Cazenove piece of its historic £10 billion ($14 billion) purchase will make a difference to the outcome. Nuveen Chief Executive Officer William Huffman talked a lot about opportunities in wealth management. The reticence toward specifically acknowledging Cazenove begs some questions. Does Nuveen not appreciate what it has acquired? Or is it taking a consciously nuanced stance ahead of a potential onward sale?