Schroders will not replace Andrew Chorlton and forms a Fixed Income Leadership Team

Schroders is restructuring its fixed income division with a new leadership team following the departure of its head of fixed income, Andrew Chorlton. Chorlton will be joining M&G Investments as CIO of fixed income in Q4 2024, succeeding Jim Leaviss.

Chorlton's Departure and New Role

Andrew Chorlton, who has been a key figure at Schroders, is set to leave the asset manager to join M&G Investments as Chief Investment Officer (CIO) of fixed income. Chorlton’s new role will commence in Q4 2024, taking over from Jim Leaviss, who is stepping down after a distinguished 27-year tenure at M&G to pursue academic interests. Chorlton's extensive experience in fixed income markets is expected to bring fresh insights and leadership to M&G.

Formation of the New Leadership Team

Rather than directly replacing Chorlton, Schroders has opted to establish a leadership team to oversee the fixed income division. This new team aims to maintain and enhance the division's performance through a collaborative approach. The leadership team will include:

• Julien Houdain, Head of Global Unconstrained Fixed Income
• Patrick Vogel, Head of Credit, Europe
• Lisa Hornby, Head of US Multi-Sector Fixed Income
• Abdallah Guezour, Head of Emerging Market Debt and Commodities
• Patrick McCullagh, Global Head of Credit Research
• Andrew Moscow, Head of Fixed Income Management

Unified Approach and Responsibilities

Patrick McCullagh will play a pivotal role in ensuring a unified and differentiated bottom-up approach across the fixed income platform. His oversight will be crucial in maintaining the consistency and quality of Schroders' fixed income strategies, aligning with the firm's commitment to delivering superior investment performance.

Schroders' decision to form a leadership team underscores its commitment to fostering a collaborative environment that leverages the diverse expertise of its senior managers. This approach is expected to drive innovation and strategic growth within the fixed income division.

Schroders is committed to exceptional client outcomes through active management of their funds. The skills and unique insights of our managers allow us to identify and capitalise on investment opportunities for clients in a highly competitive market.

Schroders' fixed income team manages over £100bn of clients' assets across our global operating platform. We have a strong team-based investment approach and a robust investment process dedicated to managing our clients' portfolios.

The creation of our fixed income leadership team recognises the strength in depth of our specialists and will balance their respective responsibilities well. The investment performance of the team reflects our optimised investment approach and has been excellent. Over the last year, 87% of our fixed income AUM is outperforming with 85% outperforming over five years.

Johanna Kyrklund, Schroders co-head of investment and group CIO