UK asset manager Schroders has announced the promotion of Peter Harrison (pictured) as new CEO, replacing Michael Dobson, who will step down from his role in order to become no-executive chairman of the group as of next month.
Harrison joined Schroders in 2013 as head of Equities, becoming a Board member and head of Investment in 2014. The reshuffle is prompted the retirement of current chairman Andrew Beeson on 4 April 2016.
Lord Howard, senior independent director at Schroders comments on the changes: “We are delighted that Peter Harrison will succeed Michael as chief executive. Peter has great experience of the investment industry and a deep knowledge of the firm, its culture and values.
“Michael Dobson is the outstanding candidate for the Chairman role and the Board’s unanimous choice” he adds.
In addition, Massimo Tosato, executive vice chairman and global head of Distribution, will retire as a director of the Company and leave the firm on 31 December 2016. He has been with Schroders since 1995.
Moreover, Ashley Almanza, who joined the Board in 2011 as a non-executive director and is currently chairman of the Audit and Risk Committee, has informed the Board that due to his commitments as chief executive of G4S, he will not seek re-election and will leave the Board at the forthcoming Annual General Meeting (AGM) as of 28 April.