Schroders Appoints Richard Oldfield as Group Chief Executive Officer
Updated:
10 SEPT, 2024
By Jose Luis Palmer from RankiaPro Europe
Schroders has officially named Richard Oldfield as its next Group Chief Executive Officer, effective 8 November 2024, following regulatory approval. Oldfield, who has been with Schroders as Chief Financial Officer (CFO) since 2023, will succeed Peter Harrison, who has led the company for eight transformative years.
Richard Oldfield’s Background and Vision
Before joining Schroders, Oldfield spent three decades at PwC, one of the largest professional services firms globally. His tenure included senior leadership roles such as Vice-Chairman and Global Markets Leader, where he focused on increasing profitability and advising global clients on complex issues. Since his arrival at Schroders, Oldfield has made a significant impact, particularly in capital management, commercial discipline, and driving initiatives like the firm’s inaugural bond issuance.
Leadership Transition
Dame Elizabeth Corley, Chair of Schroders, praised Oldfield’s leadership and strategic mindset
Richard has a global outlook and a proven record of leadership. His values align closely with Schroders' culture, and the Board unanimously determined that he was the ideal candidate to advance our strategic priorities.
Dame Elizabeth Corley, Chair of Schroders
Schroders is known for its long-term approach and delivering excellent investment returns. Despite industry challenges, I am confident that we have the capabilities to grow our business globally.
Richard Oldfield, CEO of Schroders
Peter Harrison’s Legacy
Peter Harrison, who began his career at Schroders, leaves behind a legacy of remarkable transformation. Under his leadership, Schroders more than doubled its assets under management (AUM) to a record £773.7 billion and expanded its capabilities in both private and public markets. Harrison expressed his pride in the company's achievements and confidence in Oldfield’s leadership.
Succession Process
The announcement follows a thorough succession process that began in April 2024, involving both internal and external candidates. Harrison will remain Group CEO until 8 November and will continue to support Oldfield through the transition until the end of the year. A search for a new Chief Financial Officer is currently underway.
This leadership change marks a new chapter for Schroders as it continues its mission to grow and serve clients worldwide.
