Schroders has confirmed the departure of its head of structured funds management Thomas See as it merges the business division with its portfolio solutions arm.
See, who was a co-manager on Schroders’ £950m Income Maximiser fund, joined the firm in 1998, working for its investment banking arm before it was sold in 2000. In 2005 he rejoined to establish the structured products division.
See worked on the derivatives overlay of the fund, while Kevin Murphy and Nick Kirrage were co-managers on the underlying value-driven UK equity portfolio.
Murphy and Kirrage will remain as managers on the Income Maximiser fund. However, Mike Hodgson, head of risk managed investments and structuring, will now take over See’s responsibilities.
A Schroders spokesperson said: “The role of head of structured fund management is no longer required and Thomas See will be leaving Schroders.”
“We have integrated the structured fund management team (responsible for the Maximiser franchise) with an existing investment team called Portfolio Solutions.
“Mike Hodgson, head of risk managed investments and structuring, will take responsibility for the team and the funds under their management.
“The investment philosophy, process and management of the Maximiser funds will not change under Mike’s leadership.”