Schroders posts FY profit beat, replaces CEO and chairman in board shake-up

LONDON, March 3 (Reuters) - Schroders (LSE: SDR.L - news) , Britain's biggest listed asset manager, on Thursday posted forecast-beating full-year results boosted by strong investor inflows, and unveiled a sweeping boardroom shake-up, with CEO Michael Dobson taking over as chairman.

Profit before tax and exceptional items, adjusted to exclude costs associated with its 2013 purchase of wealth manager Cazenove Capital, rose 7.9 percent to 609.7 million pounds ($858.40 million) year on year, against a company supplied consensus forecast for 601.1 million pounds.

Net (LSE: 0LN0.L - news) inflows of 13 billion pounds into its retail and institutional mutual funds and wealth management unit also beat a consensus of 12 billion pounds.

Separately, the firm said long-serving CEO Dobson would be replaced by Head of Investment Peter Harrison on April 4.

Dobson replaces Chairman Andrew Beeson, who will retire in April. Executive vice-chairman Massimo Tosato is also retiring from the company in December, Schroders said.($1 = 0.7103 pounds) (Reporting by Simon Jessop, editing by Sinead Cruise)