Property developer Berkeley Group has appointed city veteran Michael Dobson as chairman.

He replaces current chairman Glyn Barker who will step down from the board of the group following its AGM in September.

Dobson recently stepped down as chairman of investment bank Schroders after six years and following a  successful executive career in the City spanning more than 40 years, during which he held leadership positions at Deutsche Bank and Morgan Grenfell, as well as Schroders.

Rob Perrins, Berkeley CEO, said: “I am excited for the future of Berkeley and look forward to working with Michael and the board to realise this.”

Dobson said: “I am delighted to have been given the opportunity to be the new chairman of Berkeley.  It is a business I have admired for many years.”

Barker said that he was pleased to be handing over his responsibilities to “such an excellent and distinguished successor”.

Schroders announced last July that Dame Elizabeth Corley, former CEO of Allianz Global Investors, would succeed Dobson as chair.

The developer builds homes and neighbourhoods in London, Birmingham and the South of England and is listed on the London Stock Exchange. It specialises in brownfield regeneration in regenerating underused land and has high-profile developments in Kensington, Ealing, Battersea, Canary Wharf and Chelsea.

Berkeley was established in 1976 by Tony Pidgley and Jim Farrer. Based in Weybridge, Surrey, the company initially focused on the construction of single homes and executive developments.