Schroders chief flags retirement

Schroders group chief executive Peter Harrison will retire next year, but he'll continue to serve as a director while the firm searches for his successor.

Harrison joined Schroders in March 2013, serving as global head of investments before becoming chief executive in in April 2016.

Prior to joining Schroders, he was chair and chief executive of investment boutique RWC Partners.

Schroders chair Elizabeth Corley said that the board recognises that in Harrison, Schroders has had an "outstanding chief executive" over the past eight years.

"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 £750 billion," she said.

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

Harrison, who started his career as a graduate at Schroders, said it was the right time for the board to begin searching for a successor and to do so transparently with its stakeholders.

"I remain fully committed to the business until my successor is found and will continue to work tirelessly to drive forward our strategic growth agenda, in partnership with the excellent management team that we have in place. Growth, and a clear focus on investment outperformance for our clients will remain our top priority," he said.