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, as Schroders told in a press release.
Massimo Tosato , Executive Vice-Chairman said, "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.
Schroders is the UK's largest listed asset management company with $327.4 billion under management as of September 30, 2012.