Schroders Australia has announced current chief executive Greg Cooper will step down by the end of 2018, with a replacement already lined up.
In a statement, the investment manager said current Schroders Hong Kong chief executive Chris Durack will take over from Mr Cooper.
Schroders chief executive for Asia-Pacific Lieven Debruyne said Mr Cooper made an “invaluable contribution” to the business during his time in the role.
“One of the hallmarks has been the tenure and stability of the senior leadership team of which Greg has been a part for the last 12 years,” he said.
“As Greg leaves the business we are pleased to have an individual of Chris’s strength to succeed Greg. Chris has been a significant part of the success in Australia during his time as Head of Distribution and will ensure continuity and growth of the business into the future.”
Mr Cooper added that Mr Durack will bolster the business’ capacity moving forward.
“I am very proud to have had the opportunity to lead such a high performing business for a long period of time and I am confident that under Chris’ leadership it will go from strength to strength,” he said.
“I am particularly indebted to my colleagues across the Australian business and it’s been a pleasure to work with them so successfully for such a long period of time.”