A FOMER AUDITOR of Schroders is to become the fund management group's chief financial officer, replacing Kevin Parry who joined Shroders in 2003 as a non-executive director.
PwC partner Richard Keers is leaving to join Schroders in May next year, when it will have been 26 months since he worked as the company's auditor. ICAEW rules require a two-year cooling-off period before auditors can move to client companies.
Keers was PwC's global relationship partner for Schroders from 2006 to 2010, having joined PwC in 1988 and worked on the audits of Legal & General and Jardine Lloyd Thompson as a partner in its financial services practice.
"His previous experience positions him well for his new role as CFO," said Michael Dobson, chief executive of Schroders.
His appointment coincides with PwC's long-standing grip as auditor of the FTSE 100 company coming under threat. Schroders, which has used PwC as its auditor for more than 50 years, put the contract out to tender in September.
Parry, a former KPMG divisional managing partner who was made CFO of Schroders in January 2009, does not have a new position immediately lined up.
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
6.30pm, 16 Jul 2014
Analysing Excellence: How CFOs can drive business decisions by interpreting data
8.30am, 26 Jun 2014
Targeted at FDs and CFOs, the FD Conference 2014 provides a platform in which to learn from outstanding keynotes and network with like-minded peers
The governance and management of the Co-operative Group has been damned in two separate reviews. Richard Crump looks at where it can go from here
Send to a friend