EY has won the contest to become the new corporate auditor at Schroders, after the UK's largest listed fund manager ended its 57-year relationship with rival PwC earlier this year.

Schroders said in a statement to the market on November 23: "Following a formal tender process led by the audit and risk committee, the board has approved the appointment of Ernst & Young LLP as auditor for the financial year commencing 1 January 2018."