CFO Stephen Brooks exits Schroders

Kevin Parry, former chief executive of Management Consulting Group,
officially took the job on New Year’s Day, but Brooks remains at the company for
a handover period until sometime in the first quarter of the year. It is not yet
known what Brooks will do next.

Parry has served as a non-executive at Schroders since 2003, serving
additionally as chairman of its audit committee and a member of the remuneration
committee. He relinquishes his chairmanship to audit committee member Andrew
Beeson.

Brooks joined Schroders in January 2006 as its group financial controller and
deputy CFO, having been poached from investment bank Dresdner Kleinwort
Wasserstein, where he was global CFO. He was promoted to group CFO in April
2007.

A recent research note from Schroders’s head of European and UK credit
research, Patrick McCulloch, revealed that the fund manager had drawn up a
checklist of signs that large European companies could be using bellow-par
accounting practices, putting them at risk of turmoil.

“Investors are in something of an arms race against savvy finance directors,”
says McCulloch.