Comcast head joins Schroder board of advisors

Former CEO of AT&T Michael Armstrong is to join the firm’s team of advisors at its US headquarters.

(PrivateEquityCentral.net) New York-based Schroder Ventures US, the US arm of the Schroder Ventures international group of private equity funds, announced today Michael Armstrong, chairman of Comcast and former chairman and chief executive officer of Hughes and AT&T, has joined its advisory board, bringing the boards membership to six.

In December, Schroder appointed Steven Korn, former vice chairman and chief operating officer of CNN, to its advisory board.

Armstrong joined AT&T in 1997 from GM Hughes Aircraft, where he had served as chairman and chief executive officer since 1992. Armstrong began his career at IBM in 1961 and held positions of increasing responsibility until retiring from the company as chairman of IBM World Trade Corp. to become chairman of Hughes.

In addition to Comcast, Armstrong also sits on the board of Citigroup, Parsons, and Thyssen-Bornemisza Group.  He is a member of The Business Council, The Council on Foreign Relations, The President's Export Council and The US-Japan Business Council. He is also a member of the Advisory Board of the Yale School of Management.

“The unique characteristics of the communications industry yield significant opportunities for knowledgeable, disciplined investors,” Armstrong said in a statement. “By focusing primarily on the services side of the media, technology and communications industries in the middle market, Schroder Ventures has gained a substantive understanding of this sector and is well positioned to identify those companies with high growth potential. I intend to help Schroder Ventures review investment opportunities in growing markets and maximise returns from its strong existing portfolio.”

Schroder Ventures US is focused on middle market investments in the media, business services, communications and technology services sectors. The group is one of six affiliated international private equity firms with over $7.5bn under management in 11 offices located in North America, Europe and Asia. Schroder Ventures US is currently investing a $270m fund.