Heartfelt tributes have been paid to City grandee Sir Win Bischoff who has died at the age of 81 following a short illness.
The German-born banking boss who had top roles at Schroders, chair of Lloyds Banking Group and Citigroup, as well as JP Morgan, enjoyed a 50-year career in both the City and Wall Street.
The current chair of Lloyds Banking Group, Robin Budenberg, heralded Sir Win Bischoff as “an exemplary figure in financial services, and a pivotal part in the story of Lloyds Banking Group in his capacity as Chair from 2009 until 2014.
Sir Win Bischoff “played a uniquely influential and thoughtful role in the governance of banking and other business sectors – a guiding hand towards a more resilient, sustainable and inclusive financial sector.
“We at Lloyds are immensely grateful for Sir Win’s leadership over the years, and our thoughts are with his family at this time.”
Current J.P. Morgan chair and CEO Jamie Dimon paid tribute, saying: “Sir Win was a giant of our industry.
“A Chase Manhattan employee at the very beginning of an illustrious career, and a pivotal and calming leader through the financial crisis – his wisdom has left an indelible influence on our management teams. It is a true honoUr to have worked with him so closely.”
Dame Elizabeth Corley, chair, Schroders, also paid her respects to Bischoff. who joined in 1966, was appointed chief executive in 1984 and chairman in 1995, a position he held until 2000.
“He drove Schroders’ growth in Asia, and his partnership with Gowi Mallinckrodt was pivotal in shaping Schroders including the sale of the investment bank business to Citigroup in 2000.
“He went on to become Chairman of Citigroup, Lloyds Banking Group and the Financial Reporting Council. He also served on a number of other boards including S&P Global, Prudential, Eli Lilly and Land Securities.
“Sir Win had a significant impact in shaping Schroders. He will be remembered fondly by all those who worked with him. We send our sincere best wishes to his family.”
After growing up in war-time Germany, he moved to South Africa before going to university in the US, where he started his career at Chase in New York.
According to the FT, he returned to London in 1984 as Schroders Big Bang reforms which transformed the banking sector.
Policy chairman at the City of London Corporation, Chris Hayward, said it was “greatly saddened” by his death, saying Bischoff “was an exceptional leader, well respected by colleagues and peers alike, and his contributions to the banking industry were immeasurable.”
“Colleagues at the City Corporation are grateful for the opportunity to have known and worked with him over the years and will continue to honour his memory by working towards creating a more sustainable future for all.”