Chris Durack, country head of Australia and Susan Soh, country head of Singapore, will succeed Lieven Debruyne as co-CEOs of Schroders in Asia-Pacific, according to a statement from the firm.
The internal appointments will be effective from the second quarter of 2020 while Durack and Soh will retain their roles as country heads of Australia and Singapore, respectively.
“Debruyne will relocate to London as global head of distribution. These changes are part of our business succession plan,” a spokesman for the firm told FSA.
This move comes after the firm promoted Debruyne from CEO for Asia-Pacific to global head of distribution in September last year.
Durack has served as CEO of Schroders Australia since 2018, having originally joined as head of distribution in Australia in 2011 and then serving as country head of Hong Kong. Prior to this, he was CEO of NSW State Super Corporation.
Soh joined Schroders Singapore as head of distribution in 2005, and was appointed CEO of Singapore in 2007. She serves as a council member of Institute of Banking & Finance (IBF) and is also chairman of the Investment Management Association of Singapore (IMAS), according to the statement.
In a separate appointment, Noriaki Kurose has been brought over from Pictet AM to serve as country head of Japan beginning 1 May.
Kurose succeeds Shigesuke Kashiwagi, who has decided to step down on completion of his term of directorship, the statement said.
At Pictet, Kurose was managing director and board member of the Japan business, where he spent seven years in various senior institutional and retail sales and product roles.
Prior to that, he worked 10 years at Man Investment Securities Japan where he was the deputy head of marketing and business development, according to the statement.
Schroders managed assets of £500.2bn ($662.6bn) as of the end of last year, the statement noted.
