Schroders announces board shake-up

Schroders has announced chief executive Michael Dobson will step down on 4 April and be replaced by Peter Harrison.

Schroders announces board shake-up

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Net inflows were down however to £13bn from £24.8bn in 2014. The full-year dividend has been raised 12% to 87p per share from 78p.

Profit before tax and exceptional items for the company’s asset management business was up to £540.5m, while the wealth management equivalent was close to level at £61.3m versus £61.7m in 2014.

Asset management net revenue climbed to £1.412bn from £1.308bn, and wealth management net revenue was down to £207.2m from £213.5m in 2014. 

“Schroders is well placed for a more challenging environment with a highly diversified business and a strong financial position,” Dobson said. “We see many interesting long-term growth opportunities and we will again be taking advantage of a period of dislocation to invest behind them.”

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