Peter Harrison will retire as group CEO at Schroders next year, triggering a “thorough and extensive search for his successor” at the £750 billion ($933.6 billion) money manager.
Harrison has signaled his intention to retire, Schroders said in a regulatory filing on April 24. Schroders’ board “anticipates an orderly transition” in 2025, and Harrison will remain as a director of the company throughout the period, a spokesperson confirmed.
“The board recognizes that in Peter, Schroders has had an outstanding CEO over the past eight years,” Elizabeth Corley, chair of Schroders, said in the filing. “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 U.K. wealth management, more than doubling assets under management to over £750 billion.”
Corley said Harrison “is a visionary in the asset management industry who has driven the implementation of our successful growth strategy with his exemplary leadership team.”
Schroders has grown its private markets business in particular under Harrison’s leadership. Recent acquisitions include a 75% stake in renewable infrastructure manager Greencoat Capital and Amsterdam-based investment manager Cairn real Estate.
Harrison joined Schroders in March 2013, becoming group CEO in April 2016. Prior to his ascension to CEO he was global head of investment. He joined Schroders from investment boutique RWC Partners — now known as Redwheel — where he was chair and CEO. Harrison began his career at Schroders in 1988 as a graduate. He’s also held roles at Deutsche Asset Management, now DWS.
“I believe that now is the right time for the board to begin the search for my successor and to do so transparently with our stakeholders,” Harrison said in the filing. “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."
Harrison is also a member of the U.K. Treasury’s Asset Management Taskforce and the Capital Markets Industry Taskforce. He’s on the advisory board of venture capital firm Antler and is a director of FCLT Global. He’s also chair of Business in the Community, King Charles III’s responsible business charity.
