London-based asset management giant Schroders plc has announced more leadership changes following the appointment of Richard Oldfield as group chief executive earlier this month.
The firm has announced the appointment of two executive directors to its board effective from January 1, 2025, subject to regulatory approval.
Meagen Burnett will be appointed chief financial officer (CFO), succeeding Oldfield, and Johanna Kyrklund will also join the board as group chief investment officer (CIO).
“Johanna’s elevation to the board underscores the importance of investment expertise and performance to the business and our clients,” said Schroders.
Schroders had £773.7 billion of assets under management at June 30, 2024.
Schroders CEO Oldfield said: “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.
“We must remain relevant to clients whilst driving shareholder value through disciplined capital allocation and enterprise-wide collaboration.
“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.
“I know she will do the same in shaping our commercial decision-making and drive efficiencies in our business processes, leveraging our investment in technology.
“Delivering excellent investment performance is the cornerstone of our client proposition. Johanna’s appointment will ensure that client outcomes remain at the heart of how we invest across Wealth Management, Private Markets, Solutions and Public Markets.
“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.”
Schroders chair Elizabeth Corley said: “We are very pleased to welcome Meagen and Johanna to the Board, both of whom bring exceptional experience, international mindsets and leadership across a wide range of disciplines including operations, finance, technology, investment and client relations.
“Their rich skillsets will complement the excellent capabilities we have in Richard, providing us with strong leadership to drive the Group forward.”
Burnett joined Schroders in January 2023, and as Group Chief Operating Officer, has firm-wide responsibility for operations, technology, and change.
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, J.P. Morgan, Goldman Sachs and KPMG,” said Schroders.
“She is a qualified chartered accountant.”
Kyrklund joined Schroders in 2007 as an investor to lead its UK Multi-Asset business.
“Over the course of nearly two decades, she has grown our Multi-Asset business into a global franchise from £22 billion of assets under management when she joined to £192.3 billion at 30 June 2024,” said Schroders.
“In 2019, she became Group CIO and in her new role on the Board, will now be responsible for the oversight of investment performance across all business lines.”
Oldfield will succeed Peter Harrison as Schroders CEO on November 8, 2024, subject to regulatory approval.
Burnett will act as interim CFO from November 8 until her formal appointment on January 1, 2025.