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Winfried Bischoff

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Sir Winfried Franz Wilhelm Bischoff (10 May 1941 – 25 April 2023) was a German-born British banker who was the chairman of Lloyds Banking Group. He previously served as chairman and interim CEO of Citigroup in 2007.[1][2] He was succeeded as CEO by Vikram Pandit on 11 December 2007. Bischoff stepped down as chairman on 23 February 2009 and was replaced by Richard Parsons.[3] He had dual British and German citizenship.[4]

Bischoff was knighted in the 2000 New Year Honours for services to Banking.[5]

Early life and education

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Winfried Bischoff was born in Aachen, Germany, son of import-export entrepreneur Paul Bischoff and Hildegard, née Kühn, who had been working as a nanny in London when she met her future husband.[6] Bischoff had an early education in Cologne and Düsseldorf. In 1955, he moved to Johannesburg where he received a Bachelor of Commerce degree at the University of the Witwatersrand in 1961.[7]

Career

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Bischoff worked in the International Department of Chase Manhattan Bank from 1962 to 1963.[8] He joined J. Henry Schroder & Co. Limited in London in 1966 in its Company Finance Division. In 1971, he became managing director of Schroders Asia Limited in Hong Kong. He became group chief executive of Schroders plc in December 1984, when Schroders was worth £30 million. He became chairman in May 1995. In 2000, the investment banking division of the company was acquired for £1.3 billion by Citi through its Smith Barney subsidiary.[9]

Bischoff joined Citi as chairman of Citigroup Europe and was a member of The Operating Committee of Citigroup Inc., a position he held until appointed chairman in November 2007. He was a non-executive director at S&P Global, Eli Lilly and Company, Land Securities, Akbank, and Prudential.[citation needed]

On 27 July 2009, he was appointed chairman designate of Lloyds Banking Group and took up the position of chairman on 15 September 2009. He held this position until his retirement on 3 April 2014.[10]

Between May 2014 and October 2019 he was chairman of the UK Financial Reporting Council.[11]

Bischoff was a member of the 30% Club, a group of FTSE-100 chairmen committed to having at least 30% of their board members being female.[12]

Personal life and death

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Bischoff died on 25 April 2023, at age 81.[13]

References

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  1. ^ "Sir Win Bischoff". Citigroup. Retrieved 11 December 2007.
  2. ^ "Responsible Finance". citigroup.com. Retrieved 17 November 2017.
  3. ^ Seib, Christine (22 January 2009). "Sir Win Bischoff to leave early from chairmanship of Citigroup". The Times. London. Archived from the original on 12 June 2011. Retrieved 22 January 2009.
  4. ^ "Sir Win Bischoff – who he?". Financial Times. 5 November 2007.
  5. ^ "No. 55710". The London Gazette (Supplement). 30 December 1999. p. 1.
  6. ^ "Sir Win Bischoff obituary". 21 August 2023. ISSN 0140-0460. Retrieved 21 August 2023.
  7. ^ "Bischoff an unknown quantity as Citi chairman". Reuters. 12 December 2007. Retrieved 9 March 2023.
  8. ^ forum.europe.com SUSTAINABLE FINANCIAL MARKETS FOR EUROPEAN CITIZENS IN A GLOBAL ERA - Retrieved November 26, 2007
  9. ^ Citigroup boss banks on his 'foot soldiers' - The Times, 17 September 2006.
  10. ^ "Lloyds Banking Group PLC: Lord Blackwell appointed as Chairman". lloydsbankinggroup.com. 2 December 2013.
  11. ^ "Sir Win Bischoff: City legend hangs up his bowler hat". MoneyWeek.com. Retrieved 22 June 2020.
  12. ^ "Members – 30 Percent Club". 30percentclub.org.uk. Retrieved 7 January 2023.
  13. ^ Morris, Stephen (26 April 2023). "Win Bischoff, veteran City of London banker, dies aged 81 after a short illness". Financial Times. Retrieved 23 April 2023.
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Business positions
Preceded by Chairman of Lloyds Banking Group
2009–2014 		Succeeded by
Preceded by CEO of Citigroup
November – December 2007 		Succeeded by
Preceded by Chairman of Citigroup
2007–2009 		Succeeded by
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