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Thursday, March 3, 2016

Schroders' Dasher Will Report to a New Chief

News summary by MFWire's editors

Karl Dasher is about to have a new boss on the other side of the Atlantic amid a board shakeup.

Karl Dasher
Chief Executive Officer, North America/Co-Head of fixed income
Today Schroders [profile] revealed a host of top-level changes, most notably that on April 4 Michael Dobson will step down as CEO as all of Schroders. Peter Harrison, head of investment at Schroders and long-time rumored heir-apparent, will step into Dobson's shoes, while Dobson will succeed the retiring Andrew Beeson as non-executive chairman at Schroders.

Patrick Jenkins, Madison Marriage, and Chris Newlands of the Financial Times broke the news yesterday that, per unnamed sources, Schroders would today be revealing the promotion of Dobson to CEO.

Meanwhile, two other Schroders board members are leaving, too: Massimo Tosato, executive vice chairman and global head of distribution, who will retire from the board and the company at the end of 2016; and Ashley Almanza, CEO of G4S and chairman of Schroders' board's audit and risk committee, who not seek relection and will leave the board at its April 28 meeting.

New York-based Dasher serves as CEO of the London-based multinational's arm in North America and as co-head of fixed income. As of September 30, 2015, Schroders had $446.5 billion in worldwide AUM and 37 offices in 27 different countries.

The original FT article offers more insight into both Dobson and Harrison and features quotes from several unnamed Schroders shareholders commenting on the shift. And the paper covered the official news today, too.

Today Schroders also revealed its annual results for 2015. 

Edited by: Neil Anderson, Managing Editor

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