Winfried Bischoff
Winfried Bischoff | |
|---|---|
| Born | 10 May 1941 Aachen, Germany |
| Died | 25 April 2023 (aged 81) |
| Occupation | Banker |
| Known for | Chairman of Lloyds Banking Group; Chairman and interim CEO of Citigroup |
Sir Winfried Franz Wilhelm Bischoff (10 May 1941 – 25 April 2023) was a banker of German origin who held British citizenship and notably served as chairman of Lloyds Banking Group. In 2007, he also acted as chairman and interim CEO of Citigroup. His tenure as CEO ended on 11 December 2007 when Vikram Pandit succeeded him, and he relinquished the chairman position on 23 February 2009, with Richard Parsons taking over. Bischoff possessed dual nationality from both Germany and the United Kingdom.
He was honored with a knighthood in the 2000 New Year Honours in recognition of his contributions to the banking sector.
Early life and education
Bischoff was born in Aachen, Germany, to Paul Bischoff, an import-export businessman, and Hildegard Kühn, who had met in London. His schooling took place in Cologne and Düsseldorf. In 1955, he relocated to Johannesburg, where he completed a Bachelor of Commerce degree at the University of the Witwatersrand in 1961.
Career
Beginning his career at Chase Manhattan Bank’s International Department from 1962 to 1963, Bischoff later joined J. Henry Schroder & Co. Limited in London in 1966. He advanced to managing director of Schroders Asia Limited based in Hong Kong by 1971. In December 1984, he became group chief executive of Schroders plc when the firm's valuation stood at £30 million, and was appointed chairman in May 1995. In 2000, Citigroup acquired Schroders’ investment banking division through its Smith Barney subsidiary for £1.3 billion.
Bischoff joined Citigroup as chairman of Citigroup Europe and was a member of its Operating Committee before being named chairman in November 2007. Additionally, he served as a non-executive director for several companies including S&P Global, Eli Lilly and Company, Land Securities, Akbank, and Prudential.
On 27 July 2009, he was announced as chairman designate of Lloyds Banking Group, officially taking up the post on 15 September 2009 and continuing until his retirement on 3 April 2014.
Between May 2014 and October 2019, Bischoff chaired the UK’s Financial Reporting Council. He was also involved with the 30% Club, an initiative promoting a minimum of 30% female membership on FTSE-100 boards.
Personal life and death
Bischoff passed away on 25 April 2023 at the age of 81 following a short illness.