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Market Monitor: Investment News - Alan Brown on mission to boost non-UK business at Schroders.
(From Professional Wealth Management (PWM))
Alan Brown, who recently vacated one of the highest jobs at the world's largest institutional asset manager, State Street Global Advisers (SSgA), has resurfaced at Schroders, where he will replace Richard Horlick as head of investment. Mr Horlick, formerly with Fidelity, is associated with traditional UK institutional management .
Mr Brown will work alongside Massimo Tosato, Schroders's head of global distribution. Both report to Michael Dobson, group chief executive.
Mr Tosato now claims to be a big believer in the institutional approach. He told PWM: "We were born as an asset manager and our aim is to be the leading asset manager in the world. We are about managing money, not distributing funds to the man in the street. In order to sell to the retail market we would need a sales-force of thousands, different brand positioning and a whole new culture."
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