The investment heavyweight will be waving goodbye next year, and the company has already launched a ‘thorough and extensive search’ to fill his shoes
Schroders’ boss Peter Harrison is set to retire after more than eight years at the helm, marking the end of an era for one of the FTSE 100’s most enduring financial chiefs.
The investment heavyweight will be waving goodbye next year, and the company has already launched a “thorough and extensive search” to fill his shoes. With £750billion in assets under its care, Schroders has assured that Mr. Harrison will be around to ensure a smooth handover to the new boss.
The venerable 220 year old institution is said to have hired executive search experts to aid in their hunt for a new leader. Mr. Harrison said: “It has been an immense privilege to be chief executive. 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.” Mr. Harrison’s journey began as a graduate at Schroders back in 1988, before venturing off to cut his teeth at investment giant JP Morgan and taking on the role of group chief investment officer at what was then Deutsche Asset Management.
He also took the helm at investment boutique RWC Partners as chairman and CEO. Returning to Schroders in March 2013, he climbed to the group chief executive position by April 2016. Schroders’ chairwoman Elizabeth Corley praised his tenure, stating: “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 £750billion.”
“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.”
