Schroders Group chief operating officer, Markus Ruetimann, will step down from his role after serving more than a decade at the company, The Trade’s sister publication Global Custodian understands.
Ruetimann made the move to Schroders from UBS Asset Management in 2004, where he previously operated as global head of technology & portfolio services.
At Schroders he was responsible for the management, development and execution of operations and IT.
A spokesperson for Schroders confirmed Ruetimann’s departure adding, “Markus has led our technology and operations functions for 12 years and overseen a vast improvement in our capabilities and much increased capacity. We wish him well in the future.”
During his tenure at Schroders, Ruetimann has been a popular voice and figure in the industry and was subsequently named a Global Custodian Legend.
In his GC Legends interview Ruetimann cited “retaining a sense of humor at all times and often laughing at myself, not just in front of a mirror,” as the key ingredients for his professional successes during his versatile career in financial services.
Raised and educated in Switzerland, Ruetimann joined UBS (then Union Bank of Switzerland) working in several departments in Zurich and Geneva before transferring to New York in the early 1980s.
When UBS acquired Phillips & Drew a few years later, Ruetimann was asked to become the COO of their fund management division. His new management team went on to build a brand new operating platform which supported P&D’s significant growth of AuM for many years to come.
Ruetimann will be chairing Global Custodian’s Industry Leaders Panel on 30 June, where he will be quizzing the biggest names in European custody on issues facing the securities services industry.