Schroders has announced a number of changes to its management board.
Chief financial officer Richard Keers will retire from the company and its board at the end of the year, the group announced in a statement today (April 27).
He has been in the role since May 2013, and joined Schroders from PwC where he was a senior audit partner with 25 years of experience.
Peter Harrison, group chief executive, said "Richard Keers has been an exceptional CFO and partner to me and I would like to thank him for all he has achieved at Schroders over the last decade, a period of robust growth and strong momentum across the business."
Keers said: "It has been an incredible journey to be part of Schroders over the past 10 years.
“I am immensely proud of our success and achievements [and] I will cherish the memories and relationships forged during my time here."
Keers will be replaced by Richard Oldfield (pictured) currently vice chairperson and global markets leader at PwC.
He will join the board as chief financial officer in October, and will have responsibility for firm-wide operations, financial and risk management, technology, capital and treasury.
Oldfield was previously a member of PwC’s UK executive board for five years.
Oldfield said: "It's a privilege to be joining Schroders in October. I am excited to work alongside Peter and the management team to drive forward the strategic agenda."
Iain Mackay will also join the board as an independent non-executive director in January next year, and will sit on the audit and risk committee and the nominations committee.
He is currently chief financial officer at GSK and was previously CFO of HSBC Holdings.
Elizabeth Corley, chairperson of Schroders, said: "I am delighted that Iain has agreed to join the board in January when he leaves GSK.
"In addition to his experience as chief financial officer of FTSE 100 companies, Iain brings considerable knowledge of global organisations operating in many of the international markets in which we operate."
Schroders saw its assets under management rise 1 per cent to £746.3bn in the three months to March 31 this year.
sally.hickey@ft.com
