LONDON (ShareCast) - The new Chief Financial Officer of Schroders, Richard Keers, who this month replaced Kevin Parry, has begun building his stake in the asset management company.

Keers, who joined from PricewaterhouseCoopers (PwC), purchased 18,875 shares at 2,384p.

The £449,980 transaction comes just a few days after the company reported a rise in pre-tax profits in the first quarter boosted by growth in assets under management (AuM).

The British fund manager’s pre-tax profit came to £115m for the first three months of the year, up from the previous year’s £95.5m, as net inflows rose to £5.6bn from £1.6bn. AuM increased to £236.5bn from ££250.8, including performance fees of £2.8m.

Earlier this year the company was forced to deny allegations one of its senior fund managers, Richard Buxton, was leaving the company due to its acquisition of Cazenove Capital.

Buxton, who was head of UK equity at Schroders, resigned in March after 11 years at the UK asset manager.


Top Director Buys

Schroders (SDR)
Director name: Mr Richard Keers
Amount purchased: 18,875 @ 2,384.00p
Value: £449,980

Maven Income & Growth 4 VCT (MAV4)
Director name: Mr David Potter
Amount purchased: 51,177 @ 97.70p
Value: £50,000


Top Director Sells

Standard Life (SL.)
Director name: Mr Norman Keith Skeoch
Amount sold: 13,014 @ 391.30p
Value: £50,924

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