Schroders has promoted global head of equities Peter Harrison to the vacant position of head of investment.
Harrison, who joined Schroders in March 2013 from RWC, will now be responsible for the firm's overall investment strategy.
Harrison joined prior to the departure last year of head of UK equities Richard Buxton.
Harrison returned to Schroders last year having started his career at the group as an equity analyst in 1988.
Yesterday, the group also announced another former employee, Nicky Richards, would be returning to take over Harrison's role as global head of equities.
Subject to regulatory approval, Richards, formerly CEO and CIO at MLC Investment Management in Australia, will replace Harrison later this month.
The re-shuffle has sparked talk that succession planning for chief executive Michael Dobson may now be underway.
Dobson (pictured) said: "As head of investment, Peter will be responsible for the overall investment activities of the firm as we build on the very strong growth we have seen in recent years."
"I am pleased to welcome Nicky back to Schroders, where she started her career. She is a strong investor and manager with a proven track record.
"Her experience in senior roles in the asset management industry and her knowledge of Schroders through her 16 years with the firm equips her well for her new role with us."
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