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Ex-UBS Head Ralph Hamers Among Candidates for Schroders CEO Role

Ralph Hamers Photographer: Stefan Wermuth/Bloomberg (Stefan Wermuth/Bloomberg)

(Bloomberg) -- Former UBS Group AG boss Ralph Hamers is among candidates being considered for the role of Schroders Plc’s next chief executive officer as the UK money manager hunts for a successor to Peter Harrison.

Besides Hamers, Schroders’ own top executives including Chief Investment Officer Johanna Kyrklund and Chief Operating Officer Meagen Burnett are also in the mix for a shot at the top job, people familiar with the matter said, asking not to be identified discussing private information.

Earlier this year, the London-based firm announced that it had hired Russell Reynolds Associates to look for a new CEO after Harrison said he was stepping down next year.

Overseeing about £774 billion ($986 billion) in assets as of June, Schroders is the largest standalone asset manager in the UK. It is also one among only a handful of industry majors to have recorded consistent client inflows over the past several years while many peers have struggled to contain redemptions. With roots dating back to 1800, the Hanseatic Schroder family holds about 40% of the company, according to data compiled by Bloomberg.

Assets under management at the firm have more than doubled since Harrison took the helm in 2016, though the shares have declined about 20% during his tenure. 

Last month, City A.M. reported that HSBC Holdings Plc’s global private banking head Annabel Spring was being considered for the job and that she’d be up against internal candidate and Schroders Chief Financial Officer Richard Oldfield.

Harrison told Bloomberg News in a post-earnings call on Thursday that Schroders board will decide on the pick and it should take its time to get it right. A representative for Schroders declined to comment on the internal and external candidates. Hamers and Spring didn’t respond to requests for comment.

Hamers served as the group CEO of UBS for a little over two years before he was replaced by Sergio Ermotti in April 2023 to oversee the integration of the Swiss banking titan with local rival Credit Suisse. Prior to that Hamers led ING Groep NV for almost seven years, according to his LinkedIn profile.

--With assistance from Leonard Kehnscherper, Laura Noonan, Ben Stupples and Harry Wilson.

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