Schroder Real Estate trust chairman resigns

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.”