Schroders’ CEO Mr. Richard Oldfield announced that the company is shaking up its leadership team. The plan includes cutting the number of UK asset manager’s executive committee members by more than half as Mr. Oldfield seeks to breathe a new life into the business.
Mr. Oldfield explained: “My objective from here, together with the [executive committee], 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.”
“One of the first things 1 will be asking the new exco to build withs even more rigor is a very clear understanding 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. Mr. Oldfield emphasized that his priority will be given to simplification, commercial discipline and flawless execution.”
Mr. Phil Middleton is taking on the UK leadership role, moving from his role: as CEO of Americas. Middleton joined Schroders Jin 1992 and will take up his new role in January 2025. Further, Mr. Tom Damowski has been promoted to CEO Americas.