17th May 2005 07:05
Schroders PLC17 May 2005 Schroders plc Board Changes 17th May 2005 Schroders plc announces that Richard Horlick, Head of Investment, has decided tostep down from the Board as from 25th May and will leave the Company later thisyear. Alan Brown, formerly Group Chief Investment Officer and Vice Chairman ofState Street Global Advisors, will join the Board and assumeMr Horlick's responsibilities on 5th July 2005. Mr Brown will be a member ofSchroders' Group Management Committee, reporting to Michael Dobson. Michael Dobson, Group Chief Executive, said: "Since joining Schroders in 2002Richard Horlick has played a major role in our success, in particular instrengthening our investment performance. At the same time we have rebuiltprofitability and diversified our revenue streams. Richard has spoken to meabout pursuing other opportunities, and he and I have agreed that now is thetime for him to hand over to Alan Brown. I join with the Chairman, MichaelMiles, and the whole Board in thanking him for his contribution. "We are delighted that Alan Brown is joining Schroders. He comes to us with adepth of experience in equities and fixed income and in the institutionalmarketplace in the UK and internationally. He will help to build on the progresswe have made in establishing a diversified product range with good investmentperformance across a wide range of asset classes." Richard Horlick said: "We have achieved a lot in recent years at Schroders and Ihave greatly appreciated my time here. Now is the time to step down and I amdelighted to be handing over to Alan Brown for whom I have a great deal ofrespect." There are no details with respect to Mr Brown to be disclosed as required byparagraph 6.F.2 (b) to (g) of the Listing Rules. Biographical details for Alan Brown are set out below. For further information, please contact:Jo Godfrey Tel: 020 7658 2589Acting Head of Corporate CommunicationsSchroders plc Biographical Information - Alan Brown Alan Brown, 52, joined State Street Global Advisors in 1995 and rose to be GroupChief Investment Officer and Vice Chairman. He has over 30 years of fundmanagement experience, having joined Morgan Grenfell's investment managementbusiness in 1974. His principal posts are set out below: 1995 - 2005: State Street Global Advisors (Managing Director from 1995 to 1997; Group Chief Investment Officer from 1997 to 2005; and also Vice Chairman from 2001 to 2005) 1989 - 1994: PanAgora Asset Management - Managing Director & Chief Investment Officer 1984 - 1989: Posthorn Global Asset Management - Managing Director & Head of Fixed Income 1974 - 1984: Morgan Grenfell - Various positions, including Director & Head of Fixed Income from 1981 Mr Brown is a member of the Advisory Council for the CFA Centre for MarketIntegrity and Treasurer of the US foundation for CERGE-EI (The Centre forEconomic Research and Graduate Education - Economic Institute, attached to theCharles University and the Academy of Sciences in Prague). Mr Brown is not a director of any publicly quoted company and has not held anysuch position in the last five years. Schroders plc Schroders is a global asset management company with £108.9 billion undermanagement as at 31st March 2005. Our clients are pension funds, financialinstitutions including banks and insurance companies, charities, high net worthindividuals and retail investors. Our aim is to apply our asset management skills to exceed our clients'expectations in investment performance and client service. With one of thelargest networks of offices of any asset management company and over 250portfolio managers and analysts covering global investment markets, we offer ourclients a comprehensive range of investment products and services. Further information about Schroders can be found at www.schroders.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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