Schroders has named Scott MacLennan (pictured) as the new co-manager of the £3.8bn Schroder Global Sustainable Growth fund following the sudden departure of Katherine Davidson, after 14 years at the firm.
Davidson was co-portfolio manager for the Schroder Global Sustainable Growth fund and had recently assumed responsibility for the Schroder Sustainable Growth and Income strategy.
In a statement, the asset manager said Davidson had decided to leave the firm to pursue an opportunity outside of the group, driven in part by a lifestyle change.
"It has been a pleasure to work with such smart and dedicated people, both in the immediate team and across the firm," Davidson said.
"I am very grateful to have had the opportunity to build my career at such a well-respected company and to have been part of such an exciting period in the firm's growth and development, particularly within sustainability."
Davidson joined Schroders in 2008 as a graduate on the Global and International Equities team. She co-managed the Global Sustainable Growth's predecessor, the Global Demographic Opportunities strategy, since its launch in 2010. The fund rebranded in November 2017 to reflect its explicit sustainability focus.
Her successor MacLennan has already worked on the Schroder International Selection (SISF) and European Sustainable Equity funds. He will work alongside the remaining co-manager, Charles Somers, who has run the Schroder Global Sustainable Growth fund since it launched.
MacLennan said: "I am a firm believer that strong stakeholder relationships have a material impact on the long-term success of businesses.
"This aligns perfectly with the approach adopted for the Global Sustainable Growth strategy. I very much look forward to working with Charles and becoming part of the global and thematic Equity team."
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He will also manage the Schroder Sustainable Growth and Income fund, as well as the international versions (SISF) of both funds. He will assume his new responsibilities at the end of July.
All funds will continue to be managed within the existing parameters of the fund's investment objective and policy, Schroders said.
