Schroders calls in former auditor as CFO
PwC partner Richard Keers to join fund management group
By CFOWorld.co.uk staff | CFO UK | Published 18:41, 29 November 12
Fund management group Schroders has hired its former auditor Richard Keers, a partner at PwC, as group CFO.
Confirming the news late on Thursday, Schroders said Keers would take over from Kevin Parry, who joined Shroders in 2003 as a non-executive director. The move is expected to be formalised in May next year.
Keers is a PwC veteran who joined the firm’s financial services practice in 1988. He was the advisory firm’s global relationship partner for Schroders from 2006 to 2010.
Timing of the hire would mean that it would have been 26 months in May 2013 since Keers last worked as the company’s auditor. This is stipulated under ICAEW rules pertaining to a two-year cooling-off period before auditors can move to clients’ boards or top executive level positions.
Schroders has been a PwC client for over five decades, but in September the FTSE100 fund management group put its auditing contract out to tender.
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