Schroders adds BAE chief to board

Schroders-Building-700x450.jpgSchroders has added Ian King, chief executive of British defence company BAE Systems, to its board as non-executive director.

The BAE chief was previously a non-executive director of manufacturer Rotork until 2014.

King is expected to retire from the helm of BAE in the next 18 months, according to Sky News.

The move comes after this year’s revolt among Schroders’ external investors over Michael Dobson’s elevation from chief executive to chairman.

Schroders chairman Michael Dobson says: “We are delighted to welcome Ian to the board.  Ian brings considerable experience in leadership positions in major multi-national companies which will be of great value to us as we continue to grow our business internationally.”

It is understood the UK asset manager is to appoint Avid Larizadeh Duggan, a partner at Google Ventures, as non-executive directors with an announcement due this week.

A Schorders’ spokeswoman declined to comment.