Annual profits at Schroders more than halved as the fund manager suffered more than £160m of exceptional charges amid financial markets turmoil. Funds under management fell to £110.2bn in the year to Dec 31 from 139.1bn the previous year. Schroders reported pre-tax profits of £123.1m compared with £392.5m a year earlier. Michael Dobson, chief executive, ruled out “massive” redundancies as the group sought further cost savings amid waning revenues.

This entry was posted by Gwen Robinson on Friday, February 13th, 2009 at 4:56 and is filed under Capital markets, People. Tagged with schroders. Edit this entry.