The fund manager has announced it intends to combine its fixed income and multi-asset divisions into one, to be led by Sebastian Mullins as head of fixed income and multi-asset and Kellie Wood as his deputy.
Speaking with InvestorDaily’s sister brand, Money Management, Mullins explained that the two divisions had operated this way several years ago. Now, the asset manager has decided to remerge them once more.
However, the decision has now been taken to bring them back together, partly in a bid to save resources.
Mullins said: “We separated the teams previously and let them each find their own footings but what we found was there was competition for sales and for resources etc, so we have brought them back together so we can synergise across the teams.
“We are leaning into the cross-collaboration.”
It is also a way of futureproofing the business in terms of succession planning should chief executive Simon Doyle depart. Doyle has been with Schroders for over 20 years and was appointed as chief executive for Australia in June 2023, alongside his role as chief investment officer.
He also worked closely with Mullins in the past, as head of multi-asset and fixed income for 18 years while Mullins was a portfolio manager in the team. When Doyle then took the CEO role, Mullins was promoted as his replacement to head the multi-asset and fixed income team.
While there is no indication that Doyle is departing, the firm’s global CEO, Peter Harrison, announced last month that he will retire next year after more than a decade, which has likely prompted the firm to assess its succession plans across the business.
A “thorough and extensive search” for Harrison’s successor has been launched and the board said it anticipates an orderly transition during 2025.
