Asset management firm Schroder Investment Management has confirmed that Steven Wood, its global head of trading, is retiring from the firm in March this year.
Wood will be replaced by Rob McGrath, currently head of trading, Americas at Schroder, on 10 March. McGrath will initially work from the US before relocating to London. Wood is expected to continue as a consultant within the asset management industry.
Wood joined the firm in 2002 from J.P. Morgan Asset Management, where he was head of trading in London and oversaw the firm’s Asian operations.
During his time at Schroder, Wood became a prominent figure within the asset management industry. As well as chairing the trading committee of UK buy-side trade body the Investment Management Association, he is also chairman of the NYSE Euronext institutional advisory committee in Europe and New York and is a member of the advisory committee for Turquoise, the multilateral trading facility purchased by the London Stock Exchange at the end of 2009, and dark trading venues Liquidnet and Baikal.