Banking dynasty patriarch Bruno Schroder looks set to increase his wealth after the eponymous London-based asset management and private banking business unveiled record results for first half of 2010.
Profit before tax at Schroders Plc was £188.2 million in H1 2010, up from £36.3 million over the same period last year, while net new money into its global asset management business was £16.1 billion, compare with £1.8 billion a year ago.
Bruno Schroder has long taken a back seat in running the London asset manager and is now more content to raise pigs on his farm in the Isle of Islay in the Scottish highlands.
Hit by the financial meltdown in 2008/2009, Schroder's shares have recovered strongly since mid last year, with the share price up nearly 40% in the last year. Revenues at Schroders were around £800 million in 2009.
The Schroder family control around 47% of the asset manager, which helps to understand why Bruno Schroder and his family were valued at $2.2 billion by Forbes in 2010.
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