Bruno Schroder, the great-great grandson of asset manager Schroders' co-founder John Henry Schroder has sadly passed away.

The firm made the announcement that Mr Schroder, who had served as a director at the company since 1963, died yesterday.

Michael Dobson, chairman of the firm said: “Bruno made an enormous contribution to Schroders over more than 50 years.

“He was passionate about Schroders and unwavering in his support for the Company. His long experience, good judgement and sense of humour will be sorely missed. On behalf of everyone at Schroders I send our heartfelt condolences to Bruno’s wife and family.”

Mr Schroder joined what was then called J Henry Schroder & Co in 1960, beginning his career working in the internal audit division. He also worked in commercial banking and subsequently corporate finance.

With the declining health of his father, board chairman Helmut Schroder, he was appointed non-executive director of Schroders Limited (now a public company) on 1 January 1963.

Schroders had assets under management and administration of £449.4 billion as of 30 June 2918.