Andrew Sykes has retired as chairman of the of the Schroder Real Estate investment trust with immediate effect.
Sykes has sat on the board of the £192m investment trust since 2004 and is being succeeded by Lorraine Baldry,
Prior to his role in the trust, Sykes was a director of Schroders from 1998 to 2004 and was responsible for the group’s private banking and alternative investment businesses.
Baldry was appointed to the board yesterday as a non-executive director. She has held senior roles at Prudential Corporation, Morgan Stanley, Central London Partnership and London Thames Gateway Development Corporation.
A announcement to the London Stock Exchange reads: “The board is very grateful to Andrew for his leadership over the last 10 years.”