Schroders boss pins hopes on super quants

Schroders aims to navigate 'difficult' markets with growth outside of Europe and a new team of data gurus to find alpha.

Schroders’ new boss Peter Harrison is hoping a new team of super-quants will boost the company’s outperformance in equities and fixed income.

Harrison – who took over as chief executive in April 2016 – told analysts on a conference call this morning that a new team of data trading specialists, which he has been building in recent months will be key to future alpha generation for the business.

It comes after the UK-based asset management group confirmed assets under management had reached a record high of £344 billion despite witnessing outflows in its equities and multi-asset funds. The group’s fixed income range remained resilient, however.

Harrison acknowledged that market conditions were “difficult” on his analysts’ call, but stated that he believed that also provided the group with opportunities. Part of his plan to bolster growth is to further expand operations in North America and Asia.

Today’s results followed major changes to personnel at the top of the business over the quarter, with very senior figures (with years of service) departing or changing job roles.

Since Harrison became chief executive in April, the group’s chief operating officer Markus Ruetimann has left after more than 12 years with the business. Massimo Tosato, executive vice chairman of the business has also walked away.

Schroders has also bid farewell to a number of key figures from its trading team in recent weeks too.

Rob McGrath – the group’s head of trading – departed as did Nick Robinson who had previously looked after the fixed income trading team.