Richard Oldfield Named CEO of Schroders

Schroders has appointed Richard Oldfield as its new chief executive officer, effective November 8, succeeding Peter Harrison, who is retiring after eight years in the role. Oldfield, who joined Schroders as CFO in 2023 following a 30-year tenure at PwC, has been recognized for his strong leadership and impactful initiatives, including the firm's first bond issue. The board unanimously selected Oldfield, citing his business acumen and strategic insights as key factors for his promotion. Harrison will assist with the transition until the end of the year, as Schroders navigates challenges in the asset management sector, including investor pullbacks and competition from passive investing. Despite these pressures, Schroders reported an increase in assets under management, reflecting some resilience amid industry difficulties. Oldfield's leadership will be crucial in steering the firm through this period of transformation.