AdSlot 1 (Leaderboard)

Sir Win Bischoff hints that FRC chair role will be his last

FRC chairman Sir Win Bischoff has given the clearest indication yet that his impressive 50-year plus financial career is entering its end game.

Just weeks after being appointed to head-up the board at JP Morgan’s $15bn (£9.7bn) European operations, the City grandee told Financial Director, that he would not be taking on any more roles.

The former Lloyds and Citigroup chairman said that despite the enormous enjoyment he garners from his diverse roles, which include a non-executive directorship of McGraw Hill, owner of ratings agency Standard & Poor’s, it was the beginning of the end.

“I’m here (at the FRC) for three years and then who knows,” said Sir Win, who earns £120,000 a year from the FRC for working an average of two days a week. “I might be here for another three years after that – but this will be the last one. I certainly won’t do anything after this, that’s for sure.”

Among his current roles are Land Securities, the commercial property outfit, US pharma giant, Eli Lilly, Turkish bank Akbank and insurance behemoth Prudential.

The Anglo-German financier began his banking career at Chase Manhattan in 1962, before rising to chief executive and then chairman of Schroders after a spell heading up its Asian operations in Hong Kong during the early 1970’s.

Sir Win’s predecessor – Baroness Hogg – chaired the accounting and audit watchdog for one term.

The full interview with Sir Win will be published soon in Financial Director.

Related reading