The London-listed investment manager has also elevated the group chief investment officer to the board.

Schroders has just made Meagen Burnett (pictured) chief financial officer; she is succeeding Richard Oldfield (pictured), who was named group chief executive earlier this month.

Johanna Kyrklund (pictured) will also join the board as group chief investment officer. Her elevation to the board underscores the importance of investment expertise and performance for the business and clients, the firm said in a statement. 

Burnett and Kyrklund will join the board in January 2025, subject to regulatory approval.

“In the year that I have worked with Meagen, I’ve seen first-hand the incredible rigour she has brought to her role as group chief operating officer,” Oldfield said.

“As CFO, she will take direct responsibility for financial management, capital, and treasury, with oversight of operations and technology. With more than 25 years’ experience in financial services, including 15 years in asset management, she has held various operational, audit, risk and IT control roles within M&G, JP Morgan, Goldman Sachs and KPMG,” Dame Elizabeth Corley, chair of Schroders, added. “Additionally, Johanna will have responsibility for how our public markets business delivers for clients across equities, fixed income, multi-asset and solutions. Their combined experience and investment insights, as well as their financial and business acumen, will be invaluable.” 

Johanna joined Schroders in 2007 as an investor to lead the UK multi-asset business. In 2019, she became group chief investment officer. In her new role on the board, she will be responsible for the oversight of investment performance across all business lines.

Oldfied will be succeeding Peter Harrison as group chief executive on 8 November 2024, subject to regulatory approval. Burnett will act as interim CFO from 8 November 2024, until her formal appointment in January 2025.

“My initial priority is to build on strong foundations, and focus on simplification, commercial discipline and flawless execution, which will accelerate our transition to growth,” Oldfield said. See more commentary here. 

Schroders has assets under management of £773.7 billion ($1.012 trillion). At the start of August, Schroders said its pre-tax profit for the six months ending 30 June was £276.3 million, up a touch from the same period a year ago. It logged £3.9 billion in net new business, up sharply from £400 million a year earlier.

(Photo left to right: Meagen Burnett, Johanna Kyrklund, and Richard Oldfield)