Schroders’ chief executive for North America since 2006, Jamie Dorrien-Smith, is retiring on July 1 after 19 years at the firm and will be replaced by Karl Dasher, head of fixed income.

Meanwhile, chief investment officer, Philippe Lespinard, will become co-head of fixed income and will join the group management committee. 

Massimo Tosato, executive vice chairman, said that with the acquisition of STW Fixed Income Management - due to finalize in the first half of 2013 - the firm’s fixed income assets managed in North America will account for 44 per cent of its global fixed income assets. STW Fixed Income Management is a specialty fixed income manager with $11.9 billion in assets under management as of September 30, 2012.  

Tosato added that Schroders expects North America to represent a “significantly larger proportion” of its total business over the next five years across fixed income, equities, multi-asset and alternatives.

Schroders is a UK-listed asset management company with $327.4 billion under management, as at end-September, 2012. The firm operates from 34 offices in 27 countries across Europe, the Americas, Asia and the Middle East.