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.
Following the creation of the combined role, Schroders’ UK and Europe value investing teams will be rolled into one ‘value’ team.
Bateman, who runs four European equity funds, has been handed his new role with immediate effect.
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 of 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 report to Bateman in the combined value team.
Schroders managing director for UK Robin Stoakley says: “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.”
Hargreaves Lansdown senior investment manager Adrian Lowcock says: “Rory Bateman’s appointment should be seen as a safe pair of hands during a period of change at Schroders.”
Buxton resigned in March to join Old Mutual Global Investors.