Schroders has appointed a former CEO of Tilney as its new global head of wealth management.

Peter Hall is replacing Andrew Ross who has decided to “step back” from a full-time executive role and will move to a new role within Schroders as vice chairman wealth management. 

In this capacity, the firm said Mr Ross will “advise Schroders on the sector, provide continuity and focus on the services we offer to families at the top end of our client base.”

The company said Mr Hall had “extensive wealth management experience” having held a number of leadership roles over the last 20 years in the UK, US and Europe with Barclays, UBS and most recently Tilney.

As CEO of Tilney, he led the UK wealth management business through a period of major growth and investment. 

He stepped down in October 2017 after seven years at the helm and more recently has been an adviser to Tilney’s parent company Permira on pursuing investment opportunities in global wealth management.

Mr Hall’s appointment will be effective from 2 January and is subject to regulatory approval.

He will be based in London, report to Peter Harrison, group chief executive and take on all of Mr Ross’ duties.

Mr Ross will continue in his current role until 31 December.

Peter Harrison, group chief executive, said: “Andrew has built a strong team combining the best of Cazenove Capital and Schroders Wealth Management giving us a platform for growth in the future.

“Continuing to grow our wealth management business is a strategic priority.

“Peter Hall’s industry experience, proven management track record and leadership skills mean he is the right person for this job.”

Mr Hall said: “I am delighted to be joining an exceptional wealth management business with a great brand, a quality team and a client-centric culture in which I strongly believe.

“I am excited about working together to enhance the service we offer clients and to capture future growth opportunities both in the UK and internationally.”