Karl Dasher, Head of Fixed Income at Schroders, will inherit the role of chief executive officer, North America on July 1, 2013 from Jamie Dorrien-Smith, who will retire from the firm.

Philippe Lespinard will be appointed Co-Head of Fixed Income from this date and will join the Group Management Committee.

Massimo Tosato, Executive Vice-Chairman said, "With the acquisition of STW*, which is due to complete in the first half of 2013, our fixed income assets managed in North America will account for 44% of our global fixed income assets. We believe that Karl is the best person to help us realize the major opportunity we see to grow in North America and we expect it to become a significantly larger proportion of our total business over the next five years across fixed income, equities, multi-asset and alternatives."

"Philippe and I have worked closely together since I recruited him as chief investment officer fixed income,” stated Dasher.

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