Group Co.
Schroders Announces Changes to Leadership Team
Traders Magazine Online News, October 16, 2019
Schroders announced evolutionary changes to its country leadership team with the appointments of a new UK and Latin America Distribution Head and North America CEO, as the Group positions for its next phase of growth.
Peter Harrison, Group Chief Executive commented:
“This evolution of our leadership team will ensure we continue to serve clients’ best interests across the UK, Latin America and North America, as well as through our world-class Fixed Income investment capabilities. Furthermore, the smooth transition of leadership responsibilities in North America – a region of strategic importance for the firm - will enable the business to continue to benefit from strong leadership.
“Our business has evolved rapidly over the past three years and our strategy for growth remains unchanged. We continue to focus on the three pillars; growing our wealth business; expanding our investment business and building private assets.”
In the UK, where we have seen significant growth, we are pleased to announce that James Rainbow, a UK market specialist, has been appointed Head of UK Distribution and Latin America. Schroders’ UK business is among the most developed and trusted in the competitive UK market, with £165.6 billion of assets under management[1] on behalf of clients domiciled in the UK. James Rainbow will lead the continued development of this business.
Over the last year James has been instrumental in establishing and preparing Schroders Personal Wealth, our joint venture with Lloyds Bank, for its full launch. Peter Hetherington will now join as Chief Executive of Schroders Personal Wealth, subject to regulatory approval. Peter Hetherington’s experience in building and growing a technology-orientated FTSE 250 business will be invaluable in positioning Schroders Personal Wealth for future growth.
At the same time, we are pleased to confirm the recent completion of Schroders’ investment of a 49.9% stake in Schroders Personal Wealth. Schroders now owns 49.9% of Schroders Personal Wealth with the remaining 50.1% owned by Lloyds Banking Group.
In North America, Karl Dasher, currently CEO of North America and Co-Head of Fixed Income, will leave the firm at the end of the year. Marc Brookman, who joined Schroders last year as Deputy CEO of North America, will take over as CEO of North America. Philippe Lespinard, who has worked with Karl for the past 10 years on our Fixed Income Investment Platform, will continue as Head of Fixed Income, reporting to Charles Prideaux, Global Head of Investment.
Karl will work with Marc and Philippe Lespinard on the leadership transition throughout the remainder of this year, and will be available as an adviser to the firm from January 2020. Marc will report to Lieven Debruyne, Global Head of Distribution.
This smooth transition of responsibilities will ensure North America – a region of strategic growth for the firm – and our Fixed Income business will continue to benefit from strong leadership and a world-class bench of investment talent.
Schroders manages £67.6 billion[2] on behalf of our clients in North America. Globally we manage £88.5 billion[3] in fixed income strategies on behalf of our clients. We have a diverse range of fixed income strategies that span geographic regions and offer the ability to meet a variety of investment outcomes.
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