Schroders CEO Peter Harrison has announced he will retire after eight years at the helm.
Harrison started his career in financial services at the firm and has also spent time working for Newton Investment Management, J.P. Morgan Asset Management, Deutsche Asset Management & RWC Partners.
He was appointed as CEO of Schroders in 2016 and today (April 24) announced he would be stepping down.
Harrison said: "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."
Schroders has now launched its search for his successor and Harrison said he remains "fully committed" to the business until then.
It is expected a new CEO will be appointed sometime in 2025.
Elizabeth Corley, chair of Schroders, said: "Peter is a visionary in the asset management industry who has driven the implementation of our successful growth strategy, with his exemplary leadership team.
“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.”
tara.o'connor@ft.com
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