Schroders has announced a new senior role in its solutions division as it recruits BlackRock veteran Charles Prideaux to replace John McLaughlin, who is retiring from asset management.
Prideaux becomes head of solutions after almost three decades at BlackRock and its former companies, where he was most recently head of active investments for EMEA, focussed on equities, fixed income and multi asset.
The role he takes on at Schroders is a new position and reports into global head of the product division Richard Mountford. Prideaux will be responsible for strategic advice, customisation and risk management for intermediaries and institutional investors globally.
The increasing strategic importance of the solutions business within Schroders is demonstrated by his appointment to its group management committee, where he joins chief executive Peter Harrison and the heads of a number of divisions, including Mountford.
The division also becomes more customer focussed with Prideaux’s appointment having traditionally been focussed on more technical investment solutions.
Prideaux’s appointment follows the announcement that McLaughlin will retire from Schroders at the end of the year. He worked most recently under the title of senior adviser in the solutions business.
McLaughlin worked at Schroders for 24 years.
Mountford says Schroders has “big ambitions” for the business and that Prideaux’s investment solutions experience across asset classes will benefit clients.