Phil Middleton has been appointed head of UK at Schroders with effect from 1 January next year, while current head James Rainbow (pictured) will leave to “pursue other opportunities outside of the business”.
Middleton, who has worked at Schroders since 1992, has mostly been based in the firm’s London office across distribution and marketing roles.
He has worked in US roles for the firm since 2020, having moved to New York to become head of international distribution, North America. He since became CEO of North America in 2022 and CEO, Americas in June 2023.
Tom Darnowski, global head of product strategy, will take over Middleton’s current role. He and Middleton will both report to Karine Szenberg, global head of client group at Schroders.
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Middleton, incoming head of UK at Schroders, said: “It’s fantastic to be returning to the UK market, where I have spent so much of my career. Schroders has an award-winning UK business, with a compelling investment proposition, dedicated to solving the complex investment needs of our clients.
“I look forward to leading our UK business to drive further success and growth.”
Szenberg added: “Phil has played a fundamental part in further establishing and growing our business and brand presence across the Americas over the last four years, with the firm being recognised as a Top 10 institutional asset manager in the US in 2024.
“We are excited to welcome Phil back to the UK, a market that he knows extensively and where he already has a well-established track record. The UK is an important and valued market for Schroders and we believe now is the right time for Phil to return to lead this part of our business.”
She added: “I am looking forward to seeing both Phil and Tom take on their new roles and am confident that Phil, Tom and James will work together to ensure a smooth handover for our teams and clients.”
