News releases

Board Changes - Full Year 2019

Schroders plc today announces the following Board changes:

Matthew Westerman will join the Board as a non-executive Director, effective 9 March 2020, and will stand for election at the Annual General Meeting (AGM) on 30 April 2020. Matthew will be a member of the Audit and Risk Committee and the Nominations Committee. He has significant experience in the banking industry, having held senior positions at Rothschilds, Goldman Sachs and HSBC.

Philip Mallinckrodt will retire as a Director at the conclusion of the AGM on 30 April 2020. Having initially joined Schroders in 1994 and served in a number of senior executive positions, Philip was an executive Director from 2009 until 2017 and has been a non-executive Director and a member of the Nominations Committee since then.

Claire Fitzalan Howard will join the Board as a non-executive Director on 30 April 2020, subject to her election at the AGM. Claire will be a member of the Nominations Committee. The Board's stated position is that having two members of the family serving on the Board benefits the Company in aligning interests and reinforcing long term thinking. The Nominations Committee consulted with the trustees of the family trusts and other members of the principal shareholder group. Following those consultations, the trustees of the family trusts confirmed their support for Claire to join the Board.

Michael Dobson, Chairman of Schroders pic, said: "I would like to thank Philip for his commitment and contribution to Schroders over 24 years. I welcome Matthew Westerman to the Board. We look forward to benefitting from his broad experience of financial markets and in senior management roles in Asia and Europe. Claire Fitzalan Howard's appointment reflects the commitment to Schroders of the principal shareholder group, which has been an important part of Schroders' success over the long term, and I welcome her to the Board."

Following these appointments, Schroders will have a majority of independent non-executive Directors on the Board, in line with the Company's policy.

Further biographical details of Matthew Westerman and Claire Fitzalan Howard are set out below. There are no further details required to be disclosed pursuant to Listing Rule 9.6.13 in connection with these appointments.


Matthew Westerman started his career in 1986 at Credit Suisse First Boston. He subsequently worked at Rothschild & Co where he became Managing Director and Joint Chief Executive of ABN AMRO Rothschild. He joined Goldman Sachs in 2000 where he was a Partner for 14 years, a member of the European and Asian Management Committees and of the Partnership Committee and during his tenure led substantial businesses within the Investment Banking Division.

He left Goldman Sachs in 2016 to become Co-Head of Global Banking at HSBC. He left in 2017 and is currently a director of MW&L Capital Partners, a private investment company. He is Chairman of the Board of Trustees of the Imperial War Museum and a Foundation Fellow of Balliol College, Oxford.

Claire Fitzalan Howard began her career at Kleinwort Benson, where she worked from 1982 to 1987. She subsequently joined Gauntlet Insurance Services, an insurance broking company specialising in high net worth clients, where she had an executive role until 1996 and was a Nonexecutive Director from 2004 until 2019. She is a Non-executive Director of Caledonia Investments PLC and a trustee of a number of charitable foundations and trusts.


For further information, please contact:

Catherine Armstrong - Head of External Affairs: Tel: +44 (0)20 7658 2017 | 

Anita Scott - Brunswick: Tel: +44 (0)20 7404 5959  |