Schroders Personal Wealth CEO to exit
'Pursue other opportunities'
Peter Hetherington, chief executive officer at Schroders Personal Wealth, will step down from his role at the firm to “pursue other prospective opportunities” and will exit following a period of garden leave.
During his eight months at SPW, Hetherington oversaw the launch of several regional hubs in the UK and the migration of client assets from Lloyds Banking Group.
The firm has identified Hetherington's successor but this is yet to be confirmed. Former CEO James Rainbow will return as acting CEO in the interim.
Chair Antonio Lorenzo said: "I am grateful for Peter's leadership over the last eight months and am sorry he is leaving. He has overseen an important phase in the growth of SPW and the development of our customer centric culture. He leaves us in a strong position and on track to become a top three financial planning business in the UK. Both shareholders remain absolutely committed to the joint venture and to providing excellent service to clients."
Schroders Personal Wealth was unveiled in February 2019 and is a joint venture between Schroders and Lloyds. In June, more than 500 Lloyds and Schroders employees transferred over to the business, which was described as a "significant milestone" for the firm.
In April the relatively new financial planning firm launched 11 regional hubs across the country to support its growth.
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