Schroders group chief executive Peter Harrison plans to retire next year, after eight years in the role.
Harrison (pictured), 57, joined the London-headquartered investment manager in March 2013 and became CEO in April 2016. Prior to his current role, he was global head of investment.
Schroders said that a thorough and extensive search for his successor will now be launched, with an ‘orderly transition’ during 2025 and Harrison remaining as a director throughout the period.
Chair Elizabeth Corley 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 £750 billion.
“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.”
Harrison 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.”
