Schroders Plc is pruning the size of its executive committee to nine members from 22, marking new Chief Executive Officer Richard Oldfield's push to revive the fortunes of the UK's largest standalone asset manager.
As part of the overhaul, Ed Houghton, who was most recently a director at Legal & General Group Plc, will join Schroders and its management committee as head of strategy and investor engagement, according to a statement seen by Bloomberg News. Mary-Anne Daly will continue on the panel, overseeing wealth management; private-assets head Georg Wunderlin will become head of Schroders Capital; and, Karine Szenberg will take over as the sole head of the Client Group.