Schroders first-quarter AuM tick higher

25th Apr 2024 08:02

(Sharecast News) - Schroders reported an uptick in first-quarter assets under management on Thursday.

As at the end of March, AuM were £760.4bn, up from 750.6bn at the end of December 2023.

The asset manager announced on Wednesday that chief executive Peter Harrison was planning to retire after more than a decade on the board and eight years in the role.

Schroders said it was launching a "thorough and extensive" search for his successor and expected an orderly transition during 2025.

Chair Elizabeth Corley said: "During his tenure, the business has undergone a remarkable transformation to become a global, diversified active investor across both public and private markets, as well as a leader in UK wealth management, more than doubling assets under management to over £750bn.

"Peter is a visionary in the asset management industry who has driven the implementation of our successful growth strategy, with his exemplary leadership team.

"Peter's decision to announce his planned retirement in such a transparent and collaborative way is testament to his loyalty to the business and our clients, and allows the board to ensure an orderly process to appoint a new CEO."