Schroders' veteran fund manager Rosemary Banyard is leaving after 17 years to pursue new opportunities.
Banyard, who alongside Andy Brough heads up the pan-European small companies team, will step down from the company in March. She will oversee the transition, which includes Jean Roche joining the small and mid-cap team as a manager.
Roche is currently at Hargreave Hale, and will join Schroders in January 2016.
Iain Staples, existing co-manager of Schroders' institutional UK Smaller Companies fund, will take on some additional co-manager responsibilities.
Brough will become sole head of the 13 strong Pan-European small and mid-cap team and the UK Smaller Companies fund, as well as lead manager of the UK Mid-Cap fund.
Brough said: “Over the last 17 years, Rosemary and I have built a successful franchise which emphasises a team-based approach. I wish Rosemary well for the future.”
Banyard took on joint management of the UK Smaller Companies fund with Andy Brough in 1998 and has co-managed the UK Small and Mid-Cap fund from 2003. She is lead manager of the Pan-European Small Companies fund.