Dobson’s problem

Michael Dobson should have an interesting time turning around Schroders.

At least having been a non-executive director of the firm, the former Deutsche Asset Management boss has a pretty good idea of what he’s letting himself in for.

One of the first headaches he may have to deal with, though, is in the back office – not somewhere this most suave of City characters would necessarily spend much of his time. However a legacy of his predecessor David Salisbury is the outsourcing contract with Chase’s old custody division, now JPMorgan Investor Services.