UK-based asset manager Schroders has promoted John Spedding to the newly created role of head of investment trusts.
Spedding, who was previously head of the firm’s asset management secretariat, will be responsible for the overall strategy of Schroders' investment trust division, which will include oversight of shareholder, client and key stakeholder relationships, and the development of new opportunities. Schroders currently manages £2.73 billion across nine investment trusts.
He will report to Robin Stoakley, the firm’s managing director of UK intermediary, as well as client director Jan Kingzet and investment trust business development manager Stephanie Carbonneil.
In all, Spedding has 26 years’ investment trust experience, including 20 years spent at Schroders in roles such as company secretary and client director.
The promotion follows a number of high profile exits from Schroders this year. In June, multi-asset manager Iain Cunningham, co-manager of the firm’s Multi-Asset Income, Global Multi-Asset Allocation, and Global Multi-Asset Income funds, left the firm after nearly a decade. In May, Markus Ruetimann, group chief operating officer left after 12 years.
Schroders manages assets of £343.8 billion (€343.8 million) as of March 31, 2016.
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