Money Management

Schroder Adveq names new CEO

Reto Schwager was appointed CEO of Schroder Adveq, a spokeswoman said.

Mr. Schwager will replace Sven Liden on Jan 1. Stephen Mills, who serves as executive chairman of the private equity manager, assumes Mr. Linden's responsibilities in the interim period.

Mr. Linden left the business "without disclosing his plans," the spokeswoman added.

"The appointment of an executive with a broad international profile, over 20 years of experience and deep private equity industry knowledge highlights our continued commitment to growth in private assets," Mr. Mills said in a news release.

Schroder Adveq manages $7 billion in client commitments and is owned by Schroders, which has £418.2 billion ($560 billion) in assets under management.

Mr. Schwager was global head of private equity at Robeco, a subsidiary of Orix Corp. A spokeswoman was not available to comment about a replacement.