City grandee Sir Donald Brydon to step down as chairman of Sage Group

Scottish financial services veteran Sir Donald Brydon is to retire as chairman of accounting and business software group Sage.

The former investment banker will have led the firm for nine years when he steps down from the Newcastle-based company in September 2021.

Brydon is a former chair the London Stock Exchange and former director of ScottishPower. Last year, he led the Government-commissioned Brydon Review which called for sweeping changes to the auditing profession.

He was chairman of Royal Mail when it floated on the London Stock Exchange in 2013.

Sage said: “The Nomination Committee will establish a process, led by the Senior Independent Director Drummond Hall, to identify and appoint his successor in due course.”

Stirling-born Brydon, 75, graduated in maths from Edinburgh in 1967 and went on to work for Barclays for 20 years, chairing its investment banking arm.