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Schroders PLC - London-based investment manager - Hires Richard Oldfield to succeed Richard Keers as chief financial officer and an executive director. Oldfield currently is vice chair & global markets leader at accountants PricewaterhouseCoopers. Oldfield will join Schroders on October 2, and Keers will depart on December 31 after 10 years with the company. At Schroders, Oldfield will be responsible for "firm-wide operations" and for "financial management, risk management, technology, capital and treasury".
Schroders also hires Iain Mackay as an independent non-executive director. Mackay is CFO of pharmaceutical maker GSK PLC and previously was group finance director of lender HSBC Holdings PLC. He is retiring from GSK in May.
Schroders says assets under management total GBP746.3 billion on March 31, up 1.2% from GBP737.5 billion on December 31. Within this, AuM in Asset Management is GBP532.2 billion, up from GBP518.4 billion, while AuM in Wealth Management is GBP101.0 billion, up from GBP98.1 billion. The rest of AuM is from joint ventures and associates.
Current stock price: 473.50 pence, down 1.6% in London on Thursday
12-month change: down 17%
By Tom Waite, Alliance News editor
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