The firm said the new senior hire has the necessary skills – extensive experience, strong leadership, and deep understanding of client needs – to take the business forward.

UK investment manager Schroders has appointed Oliver Gregson (pictured) as its new CEO of wealth management, starting in June subject to regulatory approval.

He will replace Mary-Anne Daly, who will be stepping back from her full-time responsibilities as the current CEO of wealth management at the end of June to make time for other interests. Daly will continue as a strategic advisor to Schroders’ wealth business, the firm said in a statement.  

Gregson will join the group executive committee and report to Richard Oldfield, group chief executive. He will assume responsibility for Cazenove Capital, the high net worth wealth management arm of Schroders in the UK, Benchmark and Schroders Personal Wealth in the UK. He will also be responsible for expandidng Schroders’ wealth business internationally, by capitalising on its presence in overseas markets. 

Gregson, who has 25 years of experience in wealth management, private banking and asset management, has served in senior roles across the UK, Europe, and international markets. His institutional and retail experience of financial services, has given him a global perspective on the evolving landscape of the wealth management sector, the firm continued. 

Before joining Schroders, Gregson was region head for the UK, Ireland, and the Channel Islands at JP Morgan Private Bank, where he repositioned the business and drove the bank’s expansion into new markets.

Daly, who joined Schroders with the group’s acquisition of Cazenove Capital in 2013, was subsequently appointed to lead Schroders’ wealth businesses in the UK and internationally. Following the acquisition of Cazenove Capital, Schroders’ overall wealth business stood at £30 billion ($38 billion) in assets under management. Today, Schroders’ assets under management in wealth have grown to over £120 billion, contributing around 25 per cent of group profits, the firm added.

After thanking Daly for her contribution to the business, Richard Oldfield, group chief executive at Schroders, said: "Oliver’s appointment comes at an important time for Schroders as we continue to expand our wealth management capabilities. His extensive experience, strong leadership, and deep understanding of client needs make him well-placed to take the business forward."