The UK-listed company has made several changes to its management team, including a new global wealth management head.

London-listed Schroders has named Andrew Ross as global head of wealth management, a new role that will expand his responsibilities to outside of the UK.

Ross also serves as chief executive of Cazenove Capital, which Schroders acquired in 2013. Previously, he was CEO of HSBC Asset Management (Europe) between 1998 and 2001. 

He will continue to report to the group's head of wealth management, Philip Mallinckrodt, whose role has also been expanded to include group head of private assets, Schroders said in a statement on the London Stock Exchange.

Meanwhile, Massimo Tosato, executive vice chairman and global head of distribution, will start to hand over his responsibilities to John Troiano and Richard Mountford. Tosato is stepping down from the board at the end of 2016 to pursue his own entrepreneurial ambitions. He will continue to support group CEO Peter Harrison during the transition and will retain a number of roles and board positions at Schroders. Details of these were not given.

Troiano, who has been with Schroders since 1981 and has served as the company's global head of institutional and deputy head of distribution, will become global head of distribution. Mountford will become global head of product. He joined Schroders in 1980 and has led operations in the Asia-Pacific region. The pair will report to Harrison.

In other high-level changes, Richard Keers, chief financial officer, will take on additional responsibility for certain investment operations. 

The shake-up follows the recent departure of Michael Dobson, who was Schroders' CEO for 15 years. He handed over to Harrison, previously head of equities at the company, last month.

In the first quarter of this year, Schroders logged net operating revenue of £51.9 million ($75 million) in its wealth management division, down from £52.4 million a year earlier. Its pre-tax profit for this period was £13.7 million, up from £13 million.