Schroders Appoints Richard Oldfield as New Group CEO, Succeeding Peter Harrison

Schroders Appoints Richard Oldfield as New Group CEO, Succeeding Peter Harrison

(IN BRIEF) Schroders plc has named Richard Oldfield as its next Group Chief Executive, effective November 8, 2024, pending regulatory approval. Oldfield, who joined Schroders in 2023 as CFO after a 30-year career at PwC, will succeed Peter Harrison, who has led the firm for eight years and overseen significant growth. Oldfield’s appointment follows a global search, and he is expected to continue driving Schroders’ client-centric and strategic growth initiatives. Harrison will remain in his role until November to ensure a smooth transition.

(PRESS RELEASE) LONDON, 11-Sep-2024 — /EuropaWire/ — Schroders plc has announced that Richard Oldfield will take over as Group Chief Executive, effective November 8, 2024, pending regulatory approval. Oldfield, who joined Schroders in 2023 as Chief Financial Officer, will succeed Peter Harrison, who has led the company for the past eight years and overseen significant growth, including a doubling of assets under management.

Oldfield brings with him over 30 years of experience from PwC, where he held senior roles such as Network Vice Chairman and Global Markets Leader. His tenure at Schroders has already seen him make a substantial impact, notably driving capital management initiatives and instilling commercial discipline across the firm.

Dame Elizabeth Corley, Chair of Schroders, highlighted Oldfield’s leadership qualities, client-centric approach, and strategic vision, emphasizing that he was the unanimous choice of the Board to lead the firm into its next phase of growth. The appointment follows a comprehensive global search that included both internal and external candidates.

Peter Harrison expressed his confidence in Oldfield’s leadership, praising his insights and commitment to clients. Harrison will remain as CEO until November and will work with Oldfield through the transition period, stepping down from the Board at the end of the year. A search for a new Chief Financial Officer is underway.

Oldfield’s appointment signals continuity in Schroders’ leadership, as well as an ambition to further build on the firm’s strong performance and global growth.

Schroders plc

Schroders is a global investment management firm with £773.7 billion (€912.6 billion; $978.1 billion) assets under management, as at 30 June 2024. Schroders continues to deliver strong financial results in ever challenging market conditions, with a market capitalisation of circa £6 billion and over 6,000 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 businesses; Public Markets, Solutions, Wealth Management and our private markets business Schroders Capital. 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.

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Media Contacts:

Julie Foster
Global Head of Communications
+44 20 7658 4953
julie.foster@Schroders.com

Andy Pearce
Head of Media Relations
+44 207 658 2203
andy.pearce@schroders.com

Katie Wagstaff
Investor Relations
+44 20 7658 1985
katie.wagstaff@schroders.com

SOURCE: Schroders plc