Schroders Plc has hired Huw van Steenis from Morgan Stanley to be the U.K. asset manager’s global head of strategy and a member the firm’s group management committee.
Van Steenis is joining Schroders, which oversees about $455 billion in assets, after 14 years with the U.S. investment bank. He was most recently a managing director and global coordinator of banks and diversified financials research, according to a statement Thursday. Based in London, he will be responsible for business strategy and corporate development in a newly created role and starts in the fourth quarter.
“Huw joins Schroders at a pivotal time for the industry,” Schroders Chief Executive Officer Peter Harrison said in the statement. “His deep knowledge and experience of the investment industry is a valuable asset in these times of rapid change. We see many interesting long-term opportunities and will be taking advantage of our position to invest behind them.”
Van Steenis was educated at Oxford and INSEAD, is a fellow of the Royal Society of Arts and serves on the board of the English National Opera. He has previously worked for both JPMorgan Chase & Co. and Boston Consulting Group.
Morgan Stanley currently has an overweight rating on Schroders’s shares, meaning investors should own more than indicated by indexes. The bank named Magdalena Stoklosa to lead the European banks team with immediate affect, according to an internal memo to staff.