Schroders CEO Peter Harrison Announces Retirement Plans for 2025

Schroders CEO Peter Harrison has revealed his intention to retire in 2025, triggering a search for his successor by the global investment management firm. The announcement comes as part of a transparent and collaborative approach to ensure a smooth transition in leadership.

Transition Period and Successor Search

According to a stock exchange filing, Harrison is expected to step down from his role sometime next year but will remain as a director of the company during the transition period. Schroders has enlisted headhunter Russell Reynolds to identify potential candidates for the CEO position, both internally and externally.

Internally, four potential candidates have been identified to potentially fill the CEO role: CFO Richard Oldfield, group CIO Johanna Kyrklund, global head of private assets Georg Wunderlin, and group COO Meagen Burnett.

How are these breaking news affecting stocks?

Schroders' share price has risen 0.6% at the time of publication, however, it is down around 43% from its September 2021 peak, according to data from the London Stock Exchange.

Recognition to Peter Harrison's Contribution

Elizabeth Corley, chair of Schroders, praised Harrison for his outstanding leadership over the past eight years, highlighting the firm's transformation into a global, diversified active investor with assets under management exceeding £750bn. She emphasized Harrison's vision and commitment to Schroders' growth strategy.

Peter's decision to announce his planned retirement in such a transparent and collaborative way is testament to his loyalty to the business and our clients, and allows the board to ensure an orderly process to appoint a new CEO. I enjoy working with Peter immensely. He has served Schroders exceptionally well over the last decade.

Elizabeth Corley, chair of Schroders

Having started my career as a graduate at Schroders, it has been an immense privilege to be CEO. I care about the firm and our people deeply. 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. 

"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.

Peter Harrison, Schroders CEO

Conclusion

The announcement of Peter Harrison's planned retirement reflects Schroders' commitment to effective leadership succession and long-term strategic planning. As the search for a new CEO begins, the firm remains focused on delivering value to its clients and driving continued growth under Harrison's guidance until the transition is complete.