Schroders, a fund manager based in the UK, has poached Peter Arnold from Citi as its senior private assets distribution head.
Arnold will take on the new role next month, with responsibility for spearheading Schroders’ Alternative Sales Unit.
The unit, which manages distribution of private assets investment offering at the firm, was set up in 2018.
In the new role, Arnold will report to the firm’s global head of distribution John Troiano and global head of private assets Georg Wunderlin.
“Clients are increasingly looking to invest in illiquid assets which aim to deliver stable and consistent returns that are uncorrelated to public markets and, through his extensive experience in placing illiquid assets, Peter will help us build and deliver industry-leading investment solutions for our clients,” Wunderlin noted.
At Citi, Arnold worked for 18 years and was latterly its global head of international fund distribution.
In this role, he managed the origination and distribution of third-party private assets to institutional investors.
Earlier, he had stints at JP Morgan, UBS as well as Societe Generale.
Schroders Private Assets and Alternatives arm covers private equity, infrastructure finance, insurance-linked securities, real estate and securitised credit.
The business oversaw £38bn in assets at the end of December 2018.