The head of Schroders' European equities team and manager of two of funds, Gary Clarke, has left the firm to join JP Morgan, Investment Week understands.
Clarke will join JPM as co-head of global thematic and retail portfolios within the global equities team.
He will work alongside Peter Kirkman to develop the group's global thematic and unconstrained business which currently manages $12bn in assets.
Clarke was lead manager of Schroders' ISF European Equity Alpha fund and also ran its ISF Euro Equity fund.
Jamie Lowry, who joined Schroders in 2004 and was an alternate manager on ISF European Equity Alpha for three years, is to be sole manager.
As a result of the manager change, ratings agency OBSR says it has withdrawn its A rating for ISF European Equity Alpha.
It says: "OBSR will carefully monitor the developments in the fund under the management of Jamie Lowry in his new role."
Meanwhile, Martin Skanberg, who also started at the firm in 2004, will take over the ISF Euro Equity fund.
Skanberg will work with Rory Bateman, head of European institutional portfolios, who joined Schroders in 2008 to manage the core European equity portfolios and the team's seven European research analysts.
The investment objectives of each of the funds with which Clarke was involved remain unchanged.
Schroders' European equity team comprises 14 fund managers and analysts running £7.2bn in assets.
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