Richard Oldfield was appointed group CEO at Schroders, succeeding Peter Harrison at the helm of the money manager effective Nov. 8.
Oldfield’s appointment is subject to regulatory approval, according to a regulatory filing by Schroders on Sept. 10.
Oldfield is chief financial officer at Schroders and joined in 2023. He was previously network vice-chair and global markets leader at PwC.
As CFO, Oldfield is responsible for firmwide operations as well as having direct responsibility for financial management, risk management, technology, capital and treasury. A further announcement on the appointment of the firm’s next CFO will be made in due course, the filing said.
“Richard has proven himself to be a natural leader of client-focused, people-centric businesses,” Elizabeth Corley, chair of Schroders, said in the filing. “He has a global perspective, a strategic growth mindset and a proven record of leadership.”
Schroders’ board was “unanimous that Richard was the stand-out candidate,” Corley added.
Schroders launched a succession process in April, considering internal and external candidates, following Harrison’s decision to step down after eight years. Harrison will continue as group CEO until Nov. 8, and will work with Oldfield until the end of the year.
Schroders had £773.7 billion ($978.3 billion) in assets under management as of June 30.
Under Harrison, Schroders has expanded its private markets business in particular, with recent acquisitions including of a 75% stake in renewable infrastructure manager Greencoat Capital and Amsterdam-based investment manager Cairn Real Estate.
Harrison joined Schroders in March 2013 and became group CEO in April 2016. He was previously global head of investment, and, prior to Schroders, he was chair and CEO at investment boutique RWC Partners — now Redwheel.
