SDR Schroders Plc

24 April 2024

SCHRODERS PLC

Future retirement of Peter Harrison

Schroders plc today announces that after a decade on the Board, Peter Harrison has signalled his intention to retire as Group Chief Executive (CEO) next year. A thorough and extensive search for his successor will now be launched. The Board anticipates an orderly transition during 2025 and Peter will remain as a director of the Company throughout this period.

Elizabeth Corley, Chair of Schroders plc said, "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 £750bn.

"Peter is a visionary in the asset management industry who has driven the implementation of our successful growth strategy, with his exemplary leadership team.

"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.  I enjoy working with Peter immensely. He has served Schroders exceptionally well over the last decade."

Peter Harrison, Group CEO, said, "Having started my career as a graduate at Schroders, it has been an immense privilege to be CEO. 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.  I remain fully committed to the business until my successor is found and will continue to work tirelessly to drive forward our strategic growth agenda, in partnership with the excellent management team that we have in place. Growth, and a clear focus on investment outperformance for our clients will remain our top priority."

Notes to Editors:

Peter Harrison joined Schroders in March 2013 and became Group Chief Executive in April 2016. Prior to his current role, he was Global Head of Investment.

Before joining Schroders, Peter was Chairman and CEO of investment boutique RWC Partners. Peter began his career at Schroders in 1988, and later spent some time at JP Morgan, and as Group Chief Investment Officer of Deutsche Asset Management (now DWS).

Peter is a member of the UK Treasury's Asset Management Taskforce and the Capital Markets Industry Taskforce.  He was previously Chair and is currently a Director of the Investment Association.  Peter sits on the Advisory Board of venture capital firm Antler and is a Director of FCLT Global. He is the Chair of Business in the Community, the King's responsible business charity.

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Schroders plc

Schroders is a global investment management firm with £750.6 billion of assets under management at 31 December 2023. Schroders continues to deliver strong financial results in ever challenging market conditions, with a market capitalisation of circa £7 billion and over 6,100 employees across 38 locations. Established in 1804, the founding family remains a core shareholder, holding approximately 44% of Schroders' shares.

Schroders has benefited from a diverse business model by geography, asset class and client type. It offers innovative products and solutions across four core growing business areas; asset management, solutions, Schroders Capital (private markets) and wealth management. Clients include insurance companies, pension schemes, sovereign wealth funds, high net worth individuals and foundations. Schroders also manages assets for end clients as part of its relationships with distributors, financial advisers and online platforms.  

Schroders aims to provide excellent investment performance to clients through active management. It also channels capital into sustainable and durable businesses to accelerate positive change in the world. Schroders' business philosophy is based on the belief that if we deliver for clients, we will deliver for our shareholders and other stakeholders.