Schroders has promoted head of European equities Rory Bateman to head of UK and European equities, following the departure of head of UK equities Richard Buxton.
Bateman, who runs four European equity funds, has been handed his new role with immediate effect. Following the creation of the combined role, Schroders’ UK and Europe teams will be rolled into one ‘value’ team.
Bateman’s fund management responsibilities remain unchanged. He manages the €114.4m Schroder ISF European Large Cap and €5.7m Schroder ISF European Equity Focus funds and is co-manager on the €190.8m Schroder ISF European Dividend Maximiser and €34.6m Schroder ISF European Equity Yield funds.
Schroders global head of equities Peter Harrison says: “Rory is a strong investor in his own right and has a proven track record as head of our European equities team, creating a culture where our talented fund managers and analysts thrive.
“The combination of our value investors in the UK and Europe into a single team will leverage better our research and skills in an area where we already have a strong presence.”
Fund managers Kevin Murphy, Nicholas Kirrage, Andrew Lyddon, Ian Kelly and Jamie Lowry will all report to Bateman in the combined value team.
Schroders managing director for UK Robin Stoakley says: “Rory’s experience means that he is well placed to take on the leadership of our UK equities team.
“The combination of our UK and European value teams is an excellent fit, which will benefit clients with a broader research basis and sharing of ideas to enhance performance.”
Buxton resigned in March to join Old Mutual Global Investors.