Schroders shareholders overwhelmingly backed the election of Leonie Schroder as the City dynasty’s new representative on its board, brushing aside concerns over her limited financial experience.

With 88.5% of shareholders voting and minimal abstentions, 97.4% of those who voted approved Leonie Schroder’s appointment, the asset manager said in a market statement on May 2. Around 48% of the company’s shares are controlled by the Schroder family’s investment vehicles.