Andrew Bailey was brought in as head of process engineering by Peter Harrison, then Schroders’ head of investments.
In April 2016, when Harrison was promoted to chief executive, Bailey became chief operating officer and global head of process engineering, according to his LinkedIn profile.
Before Schroders, Bailey worked for seven years at McLaren, where he took charge of data processing, operations and motor engineering. Prior to McLaren, he worked for defence firms Qinetiq, Babcock International and BAE Systems.
Harrison was intrigued by the way Formula One specialists prepared, and presented, every single piece of information about a race, motor cars and drivers to win. He reckoned Schroders could replicate this approach by using big data.
Bailey was asked to work with Schroders’ incumbent change management team to ferret out efficiencies. However, the two functions ended up overlapping and Bailey has now parted company with Schroders by mutual agreement.
A Schroders spokeswoman said: “Andrew Bailey has left Schroders to pursue opportunities outside the firm. We thank him for his contribution and wish him well.”
Bailey was unavailable to comment.
A related initiative started by Harrison is called Data Insights, headed up by Mark Ainsworth, who was a race strategy analyst at McLaren Racing between December 1999 and May 2002.
Immediately before joining Schroders in October 2013, Ainsworth was global head of analytics at Telefonica Digital’s “big data” operation Smart Steps. The Data Insights team sets out to find new sets of data, extract the information they contain, and use it to boost Schroders’ research function.
On Data Insights, the spokeswoman said: “By recruiting experts from outside the asset management sector, we have gained extensive experience in data analytics and advanced statistics and machine learning.”