Schroders Slashes Top Brass in New CEO's Push to Revive Growth [Yahoo! Finance Canada]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg As part of the overhaul, Ed Houghton, who was most recently a director at Legal & General Group Plc, will join Schroders and its management committee as head of strategy and investor engagement, according to a statement seen by Bloomberg News. Mary-Anne Daly will continue on the panel, overseeing wealth management; private-assets head Georg Wunderlin will become head of Schroders Capital; and, Karine Szenberg will take over as the sole head of the Client Group. The sweeping action, Oldfield's first as CEO, comes as he faces pressure to cut costs at the 220-year-old firm whose stock has slumped more than 50% in the past three years. Oldfield, who joined Schroders in 2023 as chief financial officer after more than two decades at PwC, didn't rule out wider job cuts in an interview. “We're going through the process now of understanding what we want the shape of the business to look like,” the 53-year-old executive said, adding he will provide an update in M
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