Schroders backlash

BLUE- BLOODED fund firm Schroders faces criticism from investors after appointing an heiress to its board.

It has given a non- executive director job to Leonie Schroder, who is part of the Anglo-German family which founded it and still has a 47.9pc stake. The 45-year-old ( pictured) will replace her father Bruno, who died in February.

She has several parttime jobs including as a trustee of the Red Squirrel Survival Trust, and has served as director of firms linked to the 18,500- acre family estate on the Scottish island of Islay. But moves to put the divorced mother of three on the board are being opposed by advice group Glass Lewis, which says she is not experienced enough. It is recommending that investors vote against her appointment, and the re-election of chairman Michael Dobson, at Schroders’ annual meeting next month. The Schroder family has traditionally filled two board seats, with the other presently occupied by Leonie’s cousin Philip Mallinckrodt.