Thursday 21 February 2019 4:22 pm

Veteran City banker and billionaire Bruno Schroder dies aged 86

Reporter at City A.M. covering banking, markets and insurance

Reporter at City A.M. covering banking, markets and insurance

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Bruno Schroder, the longest serving FTSE 100 board member and British banking veteran, has died aged 86.

The billionaire, who served as a non-executive director of his family’s business Schroders for more than 50 years, died yesterday following a short illness, the company said.

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Schroder was the great-great-grandson of John Henry Schroder, who founded the financial institution in 1804.

He was on the company’s board from January 1963 until his death yesterday.

The company’s chairman Michael Dobson said: “Bruno made an enormous contribution to Schroders over more than 50 years.

“He was passionate about Schroders and unwavering in his support for the company.

“His long experience, good judgment and sense of humour will be sorely missed.”

Born in January 1933, Schroder was educated at Eton and, after completing national service in the Life Guards, went to Oxford University.

After graduating from Harvard Business School, he joined the family firm in November 1960 – starting off in the internal audit division before moving into commercial banking and corporate finance.

He became a non-executive director in January 1963 due to the ailing health of his father Helmut Schroder, who died in 1969.

Schroder divided his time between London and his 17,500 acre estate on the island of Islay in Scotland, where he bred Middle White pigs.

Read more: Schroders grows institutional assets, as retail struggles to keep up

He helped fund the Islay lifeboat station through donations, backed the restoration of the island’s whisky distillery and would fly visitors around in his private plane when the Islay airport had an open day.

Politically, he donated £50,000 to the Remain campaign and also helped fund the campaign against Scottish independence.