RWC’s Mannix becomes CEO as former boss Harrison returns to Schroders
Peter Harrison is leaving his post chairman and chief executive officer at RWC to take on the role of global head of equities at Schroders.
Harrison (pictured) is returning to the firm after starting his career there as an equity analyst in 1988.
He replaces Ken Lambden who after 15 years with Schroders has decided to leave on 15 March.
Harrison also has fund management experience from Newton, J.P. Morgan and was CIO of global equities at Deutshe Asset Management Group.
At RWC, Dan Mannix, former business development director, will take over as chief executive while Harrison will remain a non-executive chairman.
Mannix has also worked at RWC since 2006 when he was employed by his former J.P.Morgan colleague Harrison.
“Dan has been an excellent partner throughout the development of RWC,” Harrison said.
“I believe strongly he will continue to build the firm successfully. He has a very strong sense of the cultural imperatives necessary for success, as best demonstrated by his excellent record in building the sales and marketing efforts for the firm. RWC has developed significantly as a business in the past few years, and I look forward to being a continuing part of the next stage of its growth.”
Mannix added: “We have had an incredibly interesting and enjoyable six years over which time RWC has developed into a well-diversified investment manager with a number of exceptional investment teams. It remains a challenging time for investment companies but RWC is well placed to benefit due to our unconstrained approach to investing and the depth of resources we have within the firm.”
RWC poached Schroders’ trio of income managers Nick Purves, Ian Lance and John Teahan, famous for the success of the Income Maximiser fund, in July 2010.
Also in 2010, Schroders built up a 49% stake in RWC as a “small investment in a quality company with good growth potential” a spokesperson said at the time.
This article was first published on Investment Week