Elisabeth Scott, Hong Kong chief executive at Schroder Investment Managers, is leaving the region after nearly 16 years. Scott will return to Britain, although not to her native Scotland; sheÆs headed to London with her family and a to-be-determined position at Schroders.

Lieven Debruyne will take over the CEO role effective February 1. He has been running the firmÆs retail business in Asia ex-Japan and ex-Australia. The past year has been a record year for Schroders' retail business and the promotion is well deserved, says Scott.

Scott came to Hong Kong with Schroders in 1992 from Edinburgh, where she had run US equity portfolios, a role she continued in Hong Kong on behalf of Asian clients. She then moved into balanced fund management before eventually switching to the sales side with responsibility for the institutional team. She was promoted to her current position in 2005 when the previous incumbent, John Ford, left to join Fidelity Investments. She leaves with the Hong Kong business running $10 billion of assets.

Among her achievements, she says, is helping put the firmÆs pension fund business back on track after Schroders lost business out of the UK due to poor performance. She revamped the global balanced products for Hong Kong pension funds and retail retirement, establishing a series of low-volatility products that have since sold well.

Although these products have not attracted attention of late, with the China equity story dominating headlines, Scott says these retirement products are designed in the best long-term interest of clients because they offer predictable returns, and with volatility returning now to the markets, should once again appeal to pension funds and MPF members.

Debruyne meanwhile helped boost the firmÆs retail business over the past two years by introducing more products, notably Bric funds and Middle East funds that have sold well. Mutual fund sales for Asia grew 400% over the past two years. He will now report to Lester Gray, Singapore-based CEO for Asia-Pacific. He will continue to be responsible for this area, supported by an existing team and some new hires.

Scott recently hired Kelvin Lee from Legg Mason to oversee institutional sales for Hong Kong. The institutional business will continue to be supported by two client relationship specialists, KP Luk and Sen Tang.

ôIÆm leaving at a time when the ship is seaworthy,ö she says.

Scott is returning to the UK for family reasons and will take a little personal time with her children before getting back to work later in the year. She intends to remain with Schroders but has yet to decide in what capacity.