Andrew Sykes, head of alternative investments and private banking at Schroders, the UK-listed fund management firm, is leaving after 25 years there.

Sykes, who has worked at the firm since leaving university, said he would stay until March 2004 to hand over his responsibilities for private equity, hedge funds, structured products, which includes derivatives, and on the dealing and trading side. He is also chairman of the private banking division, Schroder & Co, which will be handed over to Jonathan Asquith.