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Gasparro leaves Schroders in shake-up

Schroders head of investment products David Gasparro is leaving the group as part of a wide-ranging corporate shake-up involving the appointment of three new heads of desks.

Gasparro is leaving to pursue other interests after 11 years with Schroders, which is splitting his role to reflect its shift in strategy towards distribution. Respective responsibility for product development and investment will be assumed by global head of marketing Robert Higginbotham and head of investment product strategy Nicky Richards, who will oversee fund manager performance.

Ken Lambden, currently chief investment officer of Schroders Australia, becomes head of equities and will continue to implement the investment processes developed by chief investment officer Mark Pignatelli.

Pignatelli, who was removed as manager of the Schroder European fund a year ago following poor performance, bec-omes head of European equities. His role will be taken by Richard Horlick, head of institutional business, while Richard Buxton, manager of the highly rated UK alpha plus fund, becomes head of UK equities.

Whitechurch Securities investment director Gavin Haynes says: “It is a shame to see Gasparro go as he was instrumental in turning around Schroders&#39 funds but it will not change our view of Schroders.”

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