The augurs have been proven right: Schroders, the U.K. asset manager, has appointed a new chief executive after incumbent CEO Michael Dobson decided to give up his position.
The announcement was no surprise: Schroders CEO Michael Dobson (pictured below) is stepping down after 14 years in charge of the venerable asset manager based in London. Peter Harrison has been chosen as successor of 63-year-old Dobson as CEO at the second-biggest listed asset manager in Europe, the company said in a statement today. Harrison will take over April 4.
Under Dobson's guidance, Schroders managed to double assets under management and it will now be up to the new CEO to make sure that the company remains on track. Harrison so far was in charge of investments at Schroders.
Formula 1 Know-how
Harrison in an interview with finews.ch in December left the impression of a bank manager looking to shape the future with at times unconventional ideas. He believes that big data provides great opportunities for asset managers and he is banking on specialists from the Formula 1 racing series to tackle the flood of data.
Schroders made sure to retain Dobson's experience and know-how for the company, naming him non-executive chairman. He is replacing Andrew Beeson, who held the position for the past four years.
Big Player in Switzerland
The change in leadership will affect Switzerland, because the asset manager has more than a hundred people under contract in this country. Unlike most other foreign asset managers, Schroders is not just selling its products in Switzerland. The company has a string of fund managers, designing new products. It has built a reputation in the segments of equities and insurance-linked securities. Schroders in Switzerland has offices in Zurich and Geneva.
