Schroders, the UK-based listed investment manager, has confirmed that it will appoint Michael Dobson as chief executive at the end of this month, and buy his boutique operation Beaumont Capital.

Schroders is set to pay £33.5m (€53.7m) for Beaumont, equivalent to 18% of assets under management. Dobson recently created Beaumont in partnership with Raphaël Kanza, former leading light at French stockbroker Cheuvreux de Virieu.