UK $978 Billion Asset Manager Schroders Appoints CFO & PwC 30-Year Veteran Richard Oldfield as Group CEO, Succeeds Peter Harrison Who is Retiring after 8 Years as CEO Since Appointment in 2016, Richard Oldfield Joined Schroders as CFO in 2023 and was PwC Network Vice-Chairman & Global Markets Leader
10th September 2024 | Hong Kong
UK asset manager Schroders ($978 billion AUM) has announced the appointment of CFO & PwC 30-year veteran Richard Oldfield as Group CEO (8/11/24), succeeding Peter Harrison who is retiring after 8 years as CEO since appointment in 2016. Richard Oldfield joined Schroders as CFO in 2023, and was PwC Network Vice-Chairman & Global Markets Leader. Schroders (10/9/24): “Schroders plc today announces that Richard Oldfield has been appointed as Group Chief Executive, succeeding Peter Harrison, with effect from 8 November 2024, subject to regulatory approval. In his 30 years at PwC, one of the largest professional services networks in the world, Richard held senior roles including Network Vice Chairman and Global Markets Leader. Reporting to the Global Chair, he was responsible for building teams to grow PwC’s client-facing businesses profitably, whilst advising global clients on their most complex and challenging issues. Since joining Schroders as Chief Financial Officer, Richard has made an immediate and significant contribution, providing a fresh perspective on capital management, driving new initiatives such as the inaugural bond issue earlier this year and embedding commercial discipline across the Group … … Today’s announcement follows an orderly and comprehensive succession process, which began in April and involved a global search, including internal and external candidates. The process was led by the Chair, with the support of a Board Sub-Committee, our Senior Independent Director and a leading search firm. Peter Harrison will remain as Group Chief Executive until 8 November 2024, at which point he will step down from the Board. He will continue to work with Richard until the end of the year. Richard joined Schroders in 2023, having previously been at PwC as Network Vice Chairman and Global Markets Leader. Richard had responsibility for all lines of service, major client and industry programmes, building and leading teams across multiple countries to drive financial performance, client portfolio optimisation and ensuring delivery of strategic projects. Richard was also on PwC’s UK Executive Board for five years during which time he was Head of Clients and Markets and latterly Head of Strategy and Communications. As Schroders’ Chief Financial Officer, Richard has responsibility for firm-wide operations along with direct responsibility for financial management, risk management, technology, capital and treasury. A further announcement on the appointment of a successor CFO will be made in due course.” In 2024 April, UK $956 billion (AUM, Assets under Management) asset manager Schroders CEO Peter Harrison has announced his plan to retire in 2025 after 10 years as Schroders CEO since his appointment in 2016. Peter Harrison had started his career at Schroders 36 years ago in 1988, with his career including JP Morgan, Group CIO of Deutsche Asset Management & ex-Chair of Investment Association. Announcement (25/4/24): “Schroders plc announces that after a decade on the Board, Peter Harrison has signalled his intention to retire as Group Chief Executive (CEO) next year. A thorough and extensive search for his successor will now be launched. The Board anticipates an orderly transition during 2025, and Peter will remain as a director of the Company throughout this period.” Profile – Peter Harrison joined Schroders in March 2013 and became Group Chief Executive in April 2016. Prior to his current role, he was Global Head of Investment. Before joining Schroders, Peter was Chairman and CEO of investment boutique RWC Partners. Peter began his career at Schroders in 1988, and later spent some time at JP Morgan, and as Group Chief Investment Officer of Deutsche Asset Management (now DWS). Peter is a member of the UK Treasury’s Asset Management Taskforce and the Capital Markets Industry Taskforce. He was previously Chair and is currently a Director of the Investment Association. Peter sits on the Advisory Board of venture capital firm Antler and is a Director of FCLT Global. He is the Chair of Business in the Community, the King’s responsible business charity. Earlier in April 2024, Schroders Wealth Management appointed Clare Anderson as Global Head of Family Office Service, Lyn Tomlinson as Schroders Group Head of Impact Solutions in addition to her existing role as Schroders Wealth Management Head of Philanthropy & Impact, and Alex Ross-Parkinson appointed as Head of Family Office Business Development (newly created role) for Schroders Group. More info below:
“ UK $978 Billion Asset Manager Schroders Appoints CFO & PwC 30-Year Veteran Richard Oldfield as Group CEO, Succeeds Peter Harrison Who is Retiring after 8 Years as CEO Since Appointment in 2016, Richard Oldfield Joined Schroders as CFO in 2023 and was PwC Network Vice-Chairman & Global Markets Leader “
Dame Elizabeth Corley, Chair of Schroders: “Richard has proven himself to be a natural leader of client focused, people centric businesses. He has a global perspective, a strategic growth mindset and a proven record of leadership. The Board was unanimous that Richard was the stand-out candidate. It was clear that his strong business acumen will drive purposeful transformation at pace and we are confident that he will develop our strategic priorities, enabling Schroders to continue to grow and serve clients. His personal values are closely aligned with the Schroders culture; he is authentic, wholehearted in his approach, passionate about clients and cultivating talent. Peter has demonstrated strong leadership and unwavering commitment, leading the business through a remarkable transformation over the last eight years. He has successfully built out our private and public markets capabilities, overseeing sustained growth in our Wealth business, and more than doubling assets under management to a record £773.7 billion. It has been a real pleasure working with Peter and I would like to thank him both personally and on behalf of the Board, for his exceptional service.”
Richard Oldfield, Schroders Incoming CEO: “I am honoured to be chosen as the next Group Chief Executive for Schroders. Since joining, I’ve seen what a great company Schroders is. We are known for our long-term focus, meeting the needs of our clients, and for delivering excellent investment performance. I know that despite industry challenges, we have the capabilities and people to seize the right opportunities to grow our business and be a leading creator of wealth, globally. I cannot wait to get started.”
Peter Harrison, Schroders Outgoing Group Chief Executive: “Schroders will always be central to my life, having started my career as a graduate here. I am so proud of what we have achieved and have a huge affinity for the wonderful people who work at the firm. When we recruited Richard, I was impressed by his broad experience of running and growing businesses and his client centric approach. He has brought fresh insights during his first year and I am confident that he will continue to propel the business forward.”
Richard Oldfield, Schroders Chief Financial Officer – Appointed a Director and Chief Financial Officer in October 2023. He will become Group Chief Executive on 8 November 2024, subject to regulatory approval. Experience: He is a chartered accountant and was Network Vice Chairman and Global Markets Leader at PricewaterhouseCoopers (PwC) until October 2023 where he led all market-facing activities, initiatives, and strategy. Prior to this he was a member of PwC’s UK Executive Board for five years during which he was Head of Clients and Markets and latterly Head of Strategy and Communications. He also led the UK firm’s Banking and Capital Markets Assurance practice and was part of the Assurance Leadership team. His experience includes time spent working across Africa, Europe, Asia and North America. External appointments: Trustee and Audit Committee and Chair of The Duke of Edinburgh International Award Foundation.
UK $956 Billion Asset Manager Schroders CEO Peter Harrison Announced to Retire in 2025 after 10 Years as CEO Since Appointment in 2016, Started Career at Schroders 36 Years Ago in 1988, Career Includes JP Morgan, Group CIO of Deutsche Asset Management & ex-Chair of Investment Association
27th April 2024 – UK $956 billion (AUM, Assets under Management) asset manager Schroders CEO Peter Harrison has announced his plan to retire in 2025 after 10 years as Schroders CEO since his appointment in 2016. Peter Harrison had started his career at Schroders 36 years ago in 1988, with his career including JP Morgan, Group CIO of Deutsche Asset Management & ex-Chair of Investment Association. Announcement (25/4/24): “Schroders plc announces that after a decade on the Board, Peter Harrison has signalled his intention to retire as Group Chief Executive (CEO) next year. A thorough and extensive search for his successor will now be launched. The Board anticipates an orderly transition during 2025, and Peter will remain as a director of the Company throughout this period.” Profile – Peter Harrison joined Schroders in March 2013 and became Group Chief Executive in April 2016. Prior to his current role, he was Global Head of Investment. Before joining Schroders, Peter was Chairman and CEO of investment boutique RWC Partners. Peter began his career at Schroders in 1988, and later spent some time at JP Morgan, and as Group Chief Investment Officer of Deutsche Asset Management (now DWS). Peter is a member of the UK Treasury’s Asset Management Taskforce and the Capital Markets Industry Taskforce. He was previously Chair and is currently a Director of the Investment Association. Peter sits on the Advisory Board of venture capital firm Antler and is a Director of FCLT Global. He is the Chair of Business in the Community, the King’s responsible business charity. Earlier in April 2024, Schroders Wealth Management appointed Clare Anderson as Global Head of Family Office Service, Lyn Tomlinson as Schroders Group Head of Impact Solutions in addition to her existing role as Schroders Wealth Management Head of Philanthropy & Impact, and Alex Ross-Parkinson appointed as Head of Family Office Business Development (newly created role) for Schroders Group. More info below:
Elizabeth Corley, Chair of Schroders plc: “The Board recognises that in Peter, Schroders has had an outstanding CEO over the past eight years. During his tenure, the business has undergone a remarkable transformation to become a global, diversified active investor across both public and private markets, as well as a leader in UK wealth management, more than doubling assets under management to over £750bn. Peter is a visionary in the asset management industry who has driven the implementation of our successful growth strategy, with his exemplary leadership team. Peter’s decision to announce his planned retirement in such a transparent and collaborative way is testament to his loyalty to the business and our clients, and allows the Board to ensure an orderly process to appoint a new CEO. I enjoy working with Peter immensely. He has served Schroders exceptionally well over the last decade.”
Peter Harrison, Group CEO: “Having started my career as a graduate at Schroders, it has been an immense privilege to be CEO. I care about the firm and our people deeply. I believe that now is the right time for the Board to begin the search for my successor and to do so transparently with our stakeholders. I remain fully committed to the business until my successor is found and will continue to work tirelessly to drive forward our strategic growth agenda, in partnership with the excellent management team that we have in place. Growth, and a clear focus on investment outperformance for our clients will remain our top priority.”
UK $956 Billion Asset Manager Schroders CEO Peter Harrison Announced to Retire in 2025 after 10 Years as CEO Since Appointment in 2016, Started Career at Schroders 36 Years Ago in 1988, Career Includes JP Morgan, Group CIO of Deutsche Asset Management & ex-Chair of Investment Association
Profile – Peter Harrison joined Schroders in March 2013 and became Group Chief Executive in April 2016. Prior to his current role, he was Global Head of Investment. Before joining Schroders, Peter was Chairman and CEO of investment boutique RWC Partners. Peter began his career at Schroders in 1988, and later spent some time at JP Morgan, and as Group Chief Investment Officer of Deutsche Asset Management (now DWS). Peter is a member of the UK Treasury’s Asset Management Taskforce and the Capital Markets Industry Taskforce. He was previously Chair and is currently a Director of the Investment Association. Peter sits on the Advisory Board of venture capital firm Antler and is a Director of FCLT Global. He is the Chair of Business in the Community, the King’s responsible business charity.
Schroders plc
Schroders is a global investment management firm with £750.6 billion (€866.2 billion; $956.9 billion) assets under management, as at 31 December 2023. Schroders continues to deliver strong financial results in ever challenging market conditions, with a market capitalisation of circa £7 billion and over 6,400 employees across 38 locations. Established in 1804, the founding family remains a core shareholder, holding approximately 44% of Schroders’ shares. Schroders has benefited from a diverse business model by geography, asset class and client type. It offers innovative products and solutions across four core growing business areas; asset management, solutions, Schroders Capital (private markets) and wealth management. Clients include insurance companies, pension schemes, sovereign wealth funds, high net worth individuals and foundations. Schroders also manages assets for end clients as part of its relationships with distributors, financial advisers and online platforms.
Schroders Wealth Management Appoints Clare Anderson as Global Head of Family Office Service, Lyn Tomlinson as Schroders Group Head of Impact Solutions in Addition to Existing role as Wealth Management Head of Philanthropy & Impact, Alex Ross-Parkinson Appointed as Head of Family Office Business Development for Schroders Group
10th April 2024 – Schroders Wealth Management has appointed Clare Anderson as Global Head of Family Office Service, Lyn Tomlinson as Schroders Group Head of Impact Solutions in addition to her existing role as Schroders Wealth Management Head of Philanthropy & Impact, and Alex Ross-Parkinson appointed as Head of Family Office Business Development (newly created role) for Schroders Group.
Mary-Anne Daly, Schroders Global Head of Wealth Management & CEO of Cazenove Capital: “We are delighted to announce these new roles across Wealth Management and Schroders, which confirm the importance we place on tailoring our service to distinct client groups and sharing knowledge and best practice across the Group for the benefit of our clients.”
Katherine Cox, Global Head of Long-Term Asset Owners: “These roles further strengthen our dedicated focus on the global Family Office segment and will enable us to build on the strong collaboration already in existence between Wealth Management and Schroders’ Client Group in the UK into other key markets in delivering for our clients.”
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