Schroders plc has announced that Iain Mackay will join its board as an independent non-executive director from next year, effective 1 January 2024, when he will also join the audit and risk committee and the nominations committee.

Mackay will step down as chief financial officer and executive director of pharmaceutical multinational GSK on 1 May 2023 and will leave GSK on 31 December 2023.

Before joining GSK in 2019, Mackay was group finance director at HSBC Holdings plc for eight years. He has lived and worked in Asia, the US and Europe. He has also held roles at General Electric, Schlumberger Dowell and Price Waterhouse.

Mackay serves as a non-executive director, chair of the audit & risk committee and a member of the remuneration committee at National Grid plc. He is also a member of the Court of the University of Aberdeen and chair of its remuneration committee.

Elizabeth Corley, chair of Schroders, said: “I am delighted that Iain has agreed to join the board in January when he leaves GSK. In addition to his experience as chief financial officer of FTSE 100 companies, Iain brings considerable knowledge of global organisations operating in many of the international markets in which we operate.”