Investment house of the year: Schroders

Risk Awards 2024: Nimble collateral management helped clients navigate UK gilts crisis

Philip Howard, Schroders
Philip Howard, Schroders

On September 24 last year, Philip Howard sat in Schroders’ London office watching coverage of Kwasi Kwarteng delivering the new UK government’s ‘mini-budget’. The announcement was anything but ‘mini’ – a sweeping array of unfunded tax cuts to the tune of £72 billion ($91 billion).

Howard, who leads Schroders’ liability-driven investment (LDI) business, watched the chancellor’s announcements with concern – afraid that bond markets would react badly to the government’s plans and leave pension

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