Michael Dobson, chief executive of Schroders since 2001, will step down from the role and be succeeded by Peter Harrison on April 4.
Harrison joined Schroders in 2013 as head of equities, becoming a board member and head of investment in 2014. He joined the firm as a graduate in 1988, rejoining in 2013.
Andrew Beeson, who has been chairman for the last four years and a member of the board since 2004, will retire from the board on the same day. Dobson will become non-executive chairman.
Massimo Tosato, executive vice chairman and global head of distribution, will retire as a director of the company and leave the firm on December 31. He joined Schroders in Milan in 1995 before relocating to London in 1999, was appointed to the board in 2001 and has held a number of senior positions within the firm.
Ashley Almanza, who joined the board in 2011 as a non-executive Director and is currently chairman of the audit and risk committee, has informed the board that due to his commitments as Chief Executive of G4S plc, he will not seek re-election and will leave the Board at the forthcoming Annual General Meeting (AGM) on April 28. Rhian Davies take over this role after the AGM.