In an announcement on Tuesday, Schroders confirmed it has named Richard Oldfield as its new global chief executive, following the departure of Peter Harrison – effective from 8 November 2024.
Oldfield was named as a director and chief financial officer at Schroders in October 2023, having previously worked as a global markets leader at PwC where he worked for over 20 years including on its UK executive board.
It was announced in April that Harrison would be retiring, having been appointed as group chief executive in April 2016. He initially joined the fund manager in 2013 as its global head of equities and later worked as global head of investment.
At the time, Harrison said he would remain at the firm until a successor was found and carry out an orderly transition during 2025.
Commenting on Oldfield’s appointment, Schroders chair Dame Elizabeth Corley said: “Richard has proven himself to be a natural leader of client-focused, people-centric businesses. He has a global perspective, a strategic growth mindset, and a proven record of leadership.
“The board was unanimous that Richard was the standout candidate. It was clear that his strong business acumen will drive purposeful transformation at pace, and we are confident that he will develop our strategic priorities, enabling Schroders to continue to grow and serve clients.”
Outgoing Harrison added that his time at Schroders will always be “central” to his life.
“I am so proud of what we have achieved and have a huge affinity for the wonderful people who work at the firm,” he said.
“When we recruited Richard, I was impressed by his broad experience of running and growing businesses and his client centric approach. He has brought fresh insights during his first year and I am confident that he will continue to propel the business forward.”
Simon Doyle will continue to be CEO of the firm’s Australian business, who was appointed in June 2023.
