Banking & finance

Schroder, Bruno (7 of 13) National Life Stories: City Lives

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  • Recording date

    1992 to 1994

  • Is part of (Collection)

    City Lives

  • Recording locations

    Interviewee's office, London

  • Interviewees

    Schroder, Bruno, 1933-, (speaker, male)

  • Interviewers

    Courtney, Cathy, 1954- (speaker, female)

  • Abstract

    Part 7 (tape 4 side A): Harvard Business School continued. Influence of Charlie Williams, anecdote about Gordon Richardson. Gordon Richardson pulled Schroders into 20th century, details of what this meant. Further details HBS. Impact of USA culture on BS, had been in US in 1948. Left HBS in 1960 aged 27; can't judge what sort of person he was by this stage, knew his own worth. Salary when joined Schroders after HBS less than he wanted. Hierarchy at Schroders when BS joined. Schroders relatively small, based at 145 Leadenhall Street. Details of why Gordon Richardson had been brought in and description of bank when BS joined. City beginning to be more professional. Schroder Wagg now had 55 directors; when BS joined Schroder London were a maximum of 8 or 10 directors. Clients didn't change their merchant banks so easily in early days, more short-termism these days. Details of BS's early work with Schroders. Application of HBS teaching, what still needed to learn. Instance when stolen bankers' drafts were presented to Schroders. Black Book kept in early days listing things which had gone wrong, has now disappeared. Very little bad debt in early days. BS spent two to three years in banking division, then joined corporate finance division (four years). Lived at Chester Square where mother had house, stayed for about six years and then got flat. Active social life. Often visited Belgium to shoot - details. Girlfriend during this period. Contemporaries at Schroders during this period. Gobi Mallinckrodt (son of BS's godfather, Gustav) married BS's sister in 1958. Details of Gobi Mallinckrodt's background and character. BS's father had had major heart attack in 1959. Problem for BS because father hadn't planned to avoid tax rates in event of his death. BS had read about taxation while at Oxford, if were caught over estate duty would lose control of Schroders. Father too sick to think about the problem, details of how it was solved.

  • Description

    Interview with Bruno Schroder, non-executive director of Schroders.

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