Duncan Owen, head of Schroders’ real estate business, is to step back to an advisory role after nine years working at the asset manager.

Owen, who joined Schroders in 2012 after leading the IPO of property fund manager Invista, has overseen roughly a doubling of Schroders’ real estate assets under management during his tenure, and “reshaped the business and laid the groundwork for growth”, according to the firm’s statement on 21 July.