Stuart Dear exits as Schroders combines investment teams

In yet another sign that fund managers are looking to extract economies of scale, Schroders Australia has farewelled its Head of Fixed Income, Stuart Dear, as it combines its Australian Multi-Asset and Fixed Income teams.

The company announced that the two teams would come together as “a combined investment capability under a single point of leadership”.

The result would be that the Sebastian Muillins assumes the new role of Head of Multi-Asset and Fixed Income while Kellie Wood becomes his deputy and Head of Fixed Income.

The announcement said that Dear would be leaving the business after 11 years, most recently as Head of Australian Fixed Income.

Commenting on the move, Schroders Australia chief executive, Simon Doyle stressed that the company remained committed to the two asset classes.

“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,” Doyle said.

“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.”

“Schroders has an expansive global investment platform and presence in 38 locations.  In Australia, we have a long-standing 60-year commitment to serving and partnering with clients through locally based investment manufacturing capabilities in equities, fixed income, multi-asset, and private assets.  We are uniquely positioned to assist Australian clients to solve their investment challenges.”

Doyle described Mullins as a talented investor and natural leader while he said Wood deserved to be rewarded for her talent as a fixed income investors.

He said the combined team would be made up of 13 investment professionals.