Schroders appoints new CEO of North America and Co-Head of Fixed Income
Karl Dasher, Head of Fixed Income, will also become Chief Executive Officer, North America on July 1, 2013. Philippe Lespinard will be appointed Co-Head of Fixed Income from this date and will join the Group Management Committee.
Massimo Tosato, Executive Vice-Chairman said,
"With the acquisition of STW*, which is due to complete in the first half of 2013, our Fixed Income assets managed in North America will account for c.441 per cent of our global Fixed Income assets. We believe that Karl is the best person to help us realize the major opportunity we see to grow in North America and we expect it to become a significantly larger proportion of our total business over the next five years across Fixed Income, Equities, Multi-asset and Alternatives."
Karl Dasher said, "Philippe and I have worked closely together since I recruited him as Chief Investment Officer Fixed Income. He has been integral to the improvements we have made to our Fixed Income business in terms of the enhanced investment process and depth of investor talent. I look forward to working with him to continue to grow the business."
After 19 years with Schroders, Jamie Dorrien-Smith, Chief Executive Officer, North America, will step down from his role on July 1, 2013 and retire from the firm. He has headed North America since 2006, during which time we have seen a transformation in the performance of our Institutional business and the launch of our Intermediary business in the US. Jamie leaves with our thanks and best wishes for the future
1 Source: Schroders. Based on assumed STW assets under management of cUS$11.6 billion when the acquisition is completed during the first half of 2013.
Notes to Editors:
Schroders is the UK’s largest listed asset management company with $327.4 billion under management as of September 30, 2012. We manage funds on behalf of institutional and retail investors, financial institutions and high net worth clients from around the world, invested in a broad range of asset classes across equities, fixed income, multi-asset and alternatives.
We employ 3,000 talented people worldwide operating from 34 offices in 27 different countries across Europe, the Americas, Asia and the Middle East, close to the markets in which we invest and close to our clients. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business.
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STW Fixed Income Management LLC is a specialty fixed income manager founded in 1985 that provides custom solutions to meet the needs of a diverse client base. The firm manages portfolios across the duration spectrum for both taxable and tax-exempt investors. Assets under management are US$11.9 billion as of September 30, 2012. Further information on STW can be found at www.stw.com