Schroders to merge teams; fixed income head to depart
Schroders Australia has announced it will merge its Australian fixed income and Australian multi-asset teams, with head of fixed income Stuart Dear to depart after more than a decade.
The two teams will now come together under a combined investment capability to improve the alignment of the firm’s strategies with the evolving needs of clients. It said it hopes the firm is positioning itself for future success with the adjustment.
This will see Stuart Dear, head of Australian fixed income, depart the firm after 11 years. He joined the firm in 2012 from a role as a senior portfolio manager at abrdn.
“Schroders is optimistic about the outlook for these asset classes and remains committed to delivering active fixed income and multi-asset solutions to our clients in Australia and New Zealand. These changes seek to ensure we are making the best use of our local resources and signify our strong commitment to providing leading investment solutions tailored to our clients’ needs,” the firm said in a statement.
Instead, Sebastian Mullins will move from head of multi-asset into the leading the combined team as head of multi-asset and fixed income, while Kellie Wood will become head of fixed income.
Mullins has worked at the firm in Singapore and Australia since February 2019 and was promoted to head of multi-asset, Australia, in June 2023. Meanwhile, Wood has worked at Schroders for more than 17 years and has been the deputy head of fixed income, Australia, since March 2022.
Schroders Australia CEO, Simon Doyle, said: “Sebastian is a talented investor and natural leader. Having worked closely with Sebastian in the multi-asset team, I’m confident he will continue to deliver exceptional investment outcomes for our clients. He will be a strong, future-focused head of the combined multi-asset and fixed income capability.
“Kellie’s promotion is also well-deserved, and her passion for fixed income and her talent as a fixed income investor is rewarded with this opportunity. Sebastian and Kellie are supported by 13 investment professionals within the merged local team and the Schroders global investment teams of over 400 investment professionals in numerous countries.”
Earlier this year, First Sentier Investors announced it was closing its Australian Fixed Income, Global Credit, Equity Income and Emerging Companies teams. These teams encompassed 10 funds combined, affecting $14 billion in assets under management.
Following this, T. Rowe Price announced it would be closing its Australian equity strategy, which is the only dedicated Australian fund run by the firm. This was decided following the exit of portfolio manager and head of Australian equities Randal Jenneke.
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Laura Dew
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