Schroders Announces New CEO as Richard Oldfield Succeeds Peter Harrison

Schroders has officially announced Richard Oldfield, the company’s current chief financial officer, as the successor to Peter Harrison in the role of chief executive officer. The transition was confirmed in a stock exchange filing on 10 September.

Peter Harrison had disclosed his plans to retire in April, triggering a comprehensive search for his replacement, which considered both internal and external candidates. Harrison has served as CEO since 2016, steering the firm through significant growth.

Oldfield, who joined Schroders in October after a 30-year career at PwC where he held various senior positions, quickly made an impact at Schroders. According to the company, he has been instrumental in introducing new initiatives, such as the firm’s first bond issuance and bringing a fresh perspective to its capital management strategies.

Dame Elizabeth Corley, chair of Schroders, praised Oldfield’s leadership abilities, noting that he possesses a global outlook, strategic vision, and a strong track record of leading client-focused businesses. She mentioned that the board unanimously supported Oldfield’s appointment, confident that his business expertise would drive transformational change and further advance the firm’s strategic goals.

Corley also acknowledged Harrison’s significant contribution, stating that under his leadership, Schroders had undergone a remarkable transformation, more than doubling its assets under management to over $1 trillion. She expressed her gratitude for Harrison’s service on behalf of the board.

In his upcoming role as CEO, Oldfield expressed his honor in being selected, emphasizing his admiration for Schroders’ long-term approach and dedication to client success. He conveyed optimism about the firm’s ability to navigate industry challenges and capitalize on opportunities for growth, positioning itself as a global leader in wealth creation.

Reflecting on his departure, Harrison expressed his deep connection to Schroders, where his career began. He shared pride in the firm’s achievements during his tenure and voiced confidence in Oldfield’s ability to guide the company’s future success.

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