London/Jakarta, [Date] – Schroders, the UK-based global investment manager, is considering the sale of its Indonesian business as part of a wider strategic review under its new CEO, Richard Oldfield.

The move comes after a string of disappointing earnings and amid pressure from investors for a change in strategy. Schroders has been exploring options to offload underperforming units as it seeks to improve its financial performance. The company's share price has hit an 11-year low.

According to Reuters, Schroders has appointed advisers, including UBS, to work on a potential sale of its Indonesian unit. At least four companies, including the asset management units of HSBC, Allianz, and BNI, have expressed interest, sources told Reuters.

"We are continuously engaging with potential partners to ensure we continue to deliver excellent service and value to our clients," said a spokesperson for Schroders Indonesia, adding that the company would not comment on specific market speculation.

BNI, Indonesia's largest state-owned bank, said it is open to options to strengthen its business group as part of its ongoing transformation. However, Allianz Global Investors and HSBC declined to comment.

The valuation of Schroders' Indonesian unit remains unclear. The potential sale comes after nearly three decades of efforts to grow its business in Indonesia.

Schroders Indonesia manages approximately US$4 billion in assets, representing 1.6% of its total assets in the Asia-Pacific region, the company's second-largest market.