Bruno Schroder, director of the eponymous fund management company his family founded, has died at the age of 86 after a short illness.
Mr Schroder had served as a director of Schroders since 1963 and was the great great grandson of its founder, John Henry Schroder.
The Schroder family owns 47.9 per cent of the FTSE 100 company.
Michael Dobson, chairman of Schroders, said Mr Schroder made an "enormous contribution" to the company over more than 50 years.
He said: "He was passionate about Schroders and unwavering in his support for the company.
"His long experience, good judgement and sense of humour will be sorely missed.
"On behalf of everyone at Schroders I send our heartfelt condolences to Bruno’s wife and family."
Mr Schroder joined J Henry Schroder & Co in November 1960 and began his career working in the internal audit division, in commercial banking and subsequently in corporate finance.
He was appointed as a non-executive director of Schroders on January 1, 1963 due to the declining health of his father, Helmut Schroder, who was then chairman of the company.
Educated at Eton, Oxford University and Harvard Business School, Mr Schroder was married twice and had one daughter, Leonie.