Philip Howard will join Schroders' portfolio solutions unit as liability-driven investment solutions manager, a spokeswoman said.
Mr. Howard will start later this month, and replace Daniel Morris, who will transfer to New York early next year to launch Schroders' portfolio solutions unit in North America as part of the multiasset business. Mr. Morris will work with Seth Finkelstein on the new business. Mr. Finkelstein joined Schroders in June as U.S. product manager, portfolio solutions.
Mr. Howard is a senior associate at Mercer, where he advises clients on LDI and other strategies within the financial strategy group. Further details on his role were not available by press time. Spokesmen for Mercer confirmed his departure.