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Deals & People September 10, 2024
Schroders Announces Richard Oldfield as Group Chief Executive
Oldfield was promoted from CFO to run the asset manager and will succeed Peter Harrison on November 8.
Reported by Natalie Lin
Schroders plc announced Monday that Richard Oldfield has been appointed as group chief executive of the asset manager and will succeed Peter Harrison on November 8.
Oldfield joined Schroders in 2023 as chief financial officer, responsible for firm-wide operations, including financial management, risk management, technology, capital and treasury. The firm intends to appoint a new CFO in the future.
Oldfield was previously network vice chairman and global markets leader at PricewaterhouseCoopers, where he spent 30 years of his career. He had responsibility for all lines of service, client and industry programs and client portfolio optimization. He was also on PwC’s U.K. executive board for five years, during which time he was head of clients and markets and later head of strategy and communications.
Harrison will remain as group chief executive, a position he had held for about eight years, until November 8, at which point he will step down from the board. He will continue to work with Oldfield until the end of the year.
Schroders’ succession process began in April and involved a global search, including internal and external candidates, according to the announcement.
Elizabeth Corley, chair of Schroders, said in the announcement that the board was unanimous in choosing Oldfield, who was credited with growing the firm’s private and public markets capabilities, overseeing sustained growth in wealth business and more than doubling its assets under management to a record 773.7 billion pounds.
