Schroders has appointed Dame Elizabeth Corley, a former asset management CEO, to join its board as a non-executive director.
The appointment, effective from September 1, will see Corley become member of the nominations committee and chair designate. She will succeed Michael Dobson as chair after the company’s annual general meeting scheduled for next April.
Corley has spent over 45 years in financial services including as Europe and then international CEO of Allianz Global Investors from 2005 to 2016. She has also held senior positions in Merrill Lynch Investment Managers and Coopers & Lybrand.
She will step down from current non-executive director positions at Pearson and Morgan Stanley before becoming chair at Schroders.
Corley is also a non-executive director at BAE Systems chair of the Impact Investing Institute.
Ian King, Schroders senior independent director, said: “Elizabeth is an outstanding candidate for the chair role and was the unanimous choice of the nominations committee and her proposed appointment is warmly endorsed by the entire board. I believe Elizabeth will prove to be a very effective chair of the company and the board and I look forward to working with her.”
Schroders also released its half-year results this week. Revenue was up 24% to £1.244 billion and fund performance was described as “strong” by Rob Murphy, managing director at Edison Group, a consultancy, with 87%, 75% and 82% of assets outperforming their relevant benchmarks over one, three and five years respectively.
The firm saw £17.9 billion of net new business and 6% growth in assets under management to a record £700.4 billion.
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