30 JUNE 1984, Page 19

Musical chairs

The revolution at. Schroders now brings a new chairman to join the new chief executive. The Earl of Airlie is transferring to the Palace, as Lord Chamberlain, and hands over the chair to George Mallinck- rodt. So this eminent City merchant bank will have a German national, based in Lon- don, as chief executive, and another Ger- man national, based in New York, as chair- man. Odd, I thought? 'Not a bit,' says a rival. `Gaby Mallinckrodt is very good, and he spends all his time on aeroplanes across the Atlantic — and he's married to Bruno Schroder's sister.' Even in a revolution, some things do not change.

Christopher Fildes