The position of one of the industry’s most experienced institutional salesmen has been made redundant by Schroder Investment Management.
Brian Scott’s position as head of sales was abolished last month, and he left the institutionally-focussed asset manager after a tenure of four years.
The head of institutional business, Ray Macken, and head of retail distribution David Halifax, will now both report directly to Schroder’s chief executive in Australia, Greg Cooper.
Before joining Schroder, Scott spent six years as head of institutional sales and consultant relations at State Street Global Advisors. Prior to that, he had been the second institutional employee of Colonial First State, during the manager’s Chris Cuffe-led growth spurt. Scott was at CFS between September 1997 and March 2000, and the manager’s FUM grew from $6 billion to $36 billion during that time.
Yesterday, Scott said he was exploring various opportunities in the Australian investment management industry.