Schroders Capital chief executive Georg Wunderlin is set to leave the asset manager as Schroders completes its integration with US-based Nuveen, with group CEO Richard Oldfield expected to take direct responsibility for the private markets business, according to a report by Bloomberg.
Wunderlin, who joined Schroders in 2019 as head of private assets before becoming CEO of Schroders Capital less than two years ago, will remain with the firm until the end of October, according to a Schroders spokesperson.
Before joining Schroders, Wunderlin led alternative investment manager HQ Capital and held senior positions at UBS, having begun his career with Boston Consulting Group.
Schroders said Wunderlin had played a key role in expanding Schroders Capital from $38bn of assets in 2019 to $116bn today, and had decided that the completion of the business’s current phase made it an appropriate time to depart.
His exit comes as Schroders prepares to complete its £9.9bn ($13.1bn) takeover by Nuveen on 1 October. The transaction will combine the two asset managers into a business overseeing approximately $2.5tn in assets.
Further senior management changes are expected as the integration progresses. Schroders announced earlier this month that chair Elizabeth Corley, the former CEO of Allianz Global Investors, would also leave the company.
