The asset manager intends to boost performance following a challenging period marked by low earnings and client departures. Credit: Chrispictures/Shutterstock.

Schroders has introduced a new Group Executive Committee (ExCo), spearheaded by the newly appointed Group CEO Richard Oldfield in his bid to expedite growth at the UK-based fund manager.  

The move is aimed at bolstering the asset manager’s performance following a challenging period marked by underwhelming earnings and client departures.  

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Oldfield, who replaced Peter Harrison, has reduced the executive committee headcount from 23 to nine members, reported Reuters. 

The reorganisation, effective immediately, is part of a strategic effort to drive the company’s transition to growth.  

Eight of the nine positions on the newly-formed executive committee have been filled by internal executives. 

The ninth member, Ed Houghton, joins the team as the Group Head of Strategy and Investor Engagement and is set to commence his role in mid-January 2025. 

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Ed Houghton previously worked at Legal & General as Group Strategy and Investor Relations Director. He also had stints at Bernstein, Aviva, and Accenture.  

The new executive committee includes Richard Oldfield as group chief executive; Meagen Burnett as chief financial officer; Mary-Anne Daly as CEO for wealth management; Johanna Kyrklund as group chief investment officer and CEO for public markets. 

It also includes Georg Wunderlin as CEO for Schroders Capital; Karine Szenberg as global head of client group; Sonia Jenkins as chief people officer; and Neil Tomlinson as group general counsel. 

Oldfield said: “My objective from here, together with the ExCo, is to proceed at pace and with clear accountability to move the business forward. We have already made a start on identifying our key priorities.  

“With that in mind, I am very excited that Ed will be joining us next year to drive our strategy and investor engagement; he brings exceptional experience and underlines how we are committed to having exceptional talent at the firm.  

“One of the first things I will be asking the new ExCo to build with even more rigour is a very clear understanding of where within our business we can accelerate our transition to growth. Once we have established this, you can expect us to act decisively to deliver for clients, scale profitably and grow at pace.”