Schroders chair and investment chief step down

Schroders has revealed that Michael Miles, chairman, and Alan Brown, chief investment officer, are to step down at its annual general meeting in May.

Miles, who joined the board and was appointed chairman in 2003, will be replaced by Andrew Beeson, senior independent director.

Brown will continue to work at the company as a senior adviser. No replacement was announced. (article continues below)

Beeson will step down from his role as senior independent director and chair of the remuneration committee and as a member of the audit and risk committee.

Luc Bertrand will become senior independent director with Philip Howard becoming chair of the remuneration committee.