Schroders has made changes to its board as it publishes its annual results for the year ended 31 December 2015.
Michael Dobson, chief executive since 2001, will step down and be succeeded by Peter Harrison on 4 April. Chairman Andrew Beeson will retire and Dobson will become non-executive chairman.
Massimo Tosato, executive vice chairman and global head of distribution, will retire as a director of the company and leave the firm on 31 December 2016.
Ashley Almanza, who joined the board in 2011 as a non-executive director and is chairman of the audit and risk committee, said he would not seek re-election, owing to his commitments as chief executive of G4S, and would leave the board at the forthcoming AGM on 28 April. He will be succeeded by Rhian Davies.
In a separate statement, Schroders posted profit before tax for 2015 of £589m, a 14% increase from 2014’s £517m. Earnings per share rose by 12% to 171.2 pence and assets under management totalled £313.5bn.
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