RWC’s chief executive Peter Harrison is to step down as chief executive in order to become global head of equities at Schroders.
Mr Harrison, who will be replaced by Dan Mannix as chief executive at RWC at the end of the month, will remain as non-executive chairman and a “significant shareholder” of the business.
Schroders said in a statement Mr Harrison would take over from Ken Lambden as global head of equities, subject to FSA approval.
Mr Lambden has been at Schroders for 15 years, nine of which have been in his current role as global head of equities. He leaves on March 15.
Mr Mannix joined RWC in 2006 as a senior member of the management team and has been a “key player” in the growth of the number of RWC’s investment teams, as well as leading its business development team.
The company said during this period some of the industry’s “most respected fund managers” had joined the company and assets had grown to more than $5bn (£3.1bn).
RWC poached Schroders’ star income duo Ian Lance and Nick Purves in May 2010 and shortly after in June Schroders took a 49 per cent stake in the boutique. RWC said Schroders would remain a “non-controlling shareholder”.
As part of the transition from Mr Harrison to Mr Mannix, Paul Larche has been appointed to the newly created position of Chief Operating Officer and James Tollemache has been appointed Head of Sales for RWC.
Mr Harrison said Mr Mannix had been an “excellent partner” throughout the development of RWC.
“I believe strongly that he will continue to build the firm successfully,” he said..
“He has a very strong sense of the cultural imperatives necessary for success, as best demonstrated by his excellent record in building the sales and marketing efforts for the firm.
“RWC has developed significantly as a business in the past few years, and I look forward to being a continuing part of the next stage of its growth.”
Mr Mannix said: “We have had an incredibly interesting and enjoyable six years over which time RWC has developed into a well-diversified investment manager with a number of exceptional investment teams.
“It remains a challenging time for investment companies but RWC is well placed to benefit due to our unconstrained approach to investing and the depth of resources we have within the firm.”