In an effort to accelerate growth at the UK-based fund management, Schroders has established a new Group Executive Committee (ExCo), led by Richard Oldfield, the recently hired Group CEO.
The action is intended to improve the asset manager’s performance after a difficult time characterized by poor earnings and client attrition.
According to the media, Oldfield, who took Peter Harrison’s place, has lowered the executive committee’s membership from 23 to nine members.
The reorganization, which takes effect immediately, is a strategic move to support the company’s expansion.
Internal executives have been appointed to eight of the nine seats on the recently established executive committee.
Ed Houghton, the team’s ninth member, will begin his position in mid-January 2025 as the Group Head of Strategy and Investor Engagement.
Ed Houghton was formerly the Director of Group Strategy and Investor Relations at Legal & General. He also worked with Accenture, Aviva, and Bernstein.
Richard Oldfield, the group chief executive; Meagen Burnett, the chief financial officer; Mary-Anne Daly, the wealth management CEO; and Johanna Kyrklund, the group chief investment officer and public markets CEO, are all members of the new executive committee.
Additionally, it features Neil Tomlinson as group general counsel, Sonia Jenkins as chief people officer, Karine Szenberg as global head of client group, and Georg Wunderlin as CEO of Schroders Capital.
Oldfield said: “My objective from here, together with the ExCo, is to proceed at pace and with clear accountability to move the business forward. We have already made a start on identifying our key priorities.
“With that in mind, I am very excited that Ed will be joining us next year to drive our strategy and investor engagement; he brings exceptional experience and underlines how we are committed to having exceptional talent at the firm.
“One of the first things I will be asking the new ExCo to build with even more rigour is a very clear understanding of where within our business we can accelerate our transition to growth. Once we have established this, you can expect us to act decisively to deliver for clients, scale profitably and grow at pace.”
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