Schroders chief warns com­pa­nies not to for­get re­spon­si­bil­i­ties to cli­mate and staff

The Daily Telegraph - Business - - Business -

◆ The boss of money man­ager Schroders has warned com­pa­nies not to fall be­hind on their com­mit­ments to re­duce cli­mate change and erad­i­cate mod­ern slav­ery in a “lurch to short­ter­mism”, writes Michael O’Dwyer.

Peter Har­ri­son said that in­vestors will also hold com­pa­nies to ac­count where they see rank and file staff be­ing treated less favourably than man­age­ment dur­ing the pan­demic.

He said: “When there’s not a sym­me­try of ac­tions, you have to call those out. Ev­ery­one un­der­stands there are some in­dus­tries that are re­ally suf­fer­ing, but that should be uni­formly felt across the busi­ness and not just fall on the low­est.”

Schroders won £38.1bn of net new busi­ness in the first half of the year as its di­ver­si­fied busi­ness model helped it to weather the tur­moil.

As­sets un­der man­age­ment in­creased 5pc to a record £525.8bn. Pre-tax prof­its fell 12.3pc com­pared to the first six months of last year as the com­pany wrote down the value of some of its pri­vate in­vest­ments.

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