Schroders has named Phil Middleton head of UK with effect from 1st January 2025, following the departure of the current head of UK James Rainbow, who leaves after 17 years.
Middleton has been with Schroders for more than 30 years. He joined in 1992 and has worked in marketing and distribution in a variety of capacities. Prior to taking on the roles of CEO of North America in 2022 and CEO of Americas in June 2023, he relocated to New York in 2020 as Head of Institutional Distribution, North America.
Tom Darnowski, who joined Schroders in 2013 and most recently served as global head of product strategy, has been promoted to CEO of Americas. Darnowski and Middleton will both still report to Karine Szenberg, global head of client group.
Middleton says: “It’s fantastic to be returning to the UK market, where I have spent so much of my career. Schroders has an award-winning UK business, with a compelling investment proposition, dedicated to solving the complex investment needs of our clients. I look forward to leading our UK business to drive further success and growth.”
Schroders global head of client group Karine Szenberg says: “Phil has played a fundamental part in further establishing and growing our business and brand presence across the Americas over the last four years, with the firm being recognised as a Top 10 institutional asset manager in the US in 2024.
“We are excited to welcome Phil back to the UK, a market that he knows extensively and where he already has a well-established track record. The UK is an important and valued market for Schroders and we believe now is the right time for Phil to return to lead this part of our business.
“We pride ourselves on our ability to nurture and grow our existing talent and are pleased to announce that Tom Darnowski has been promoted to the role of CEO Americas. Tom’s leadership has played a transformational role across our product proposition as we continue to evolve with rapidly changing markets. He has demonstrated consistent dedication to meeting the needs of our global client network and has an exceptional understanding and knowledge of the Americas business and its clients.
“I am looking forward to seeing both Phil and Tom take on their new roles and am confident that Phil, Tom and James will work together to ensure a smooth handover for our teams and clients.”
