Michael Richardson (investment banker)

Michael Richardson
Born
Michael John de Rougemont Richardson

(1925-04-09)9 April 1925
London, England
Died12 May 2003(2003-05-12) (aged 78)
London, England
EducationHarrow School
Kent School
OccupationInvestment banker
SpouseOctavia Mayhew
Children3

Sir Michael Richardson (9 April 1925 – 12 May 2003) was a British investment banker in London. While he was managing director of N M Rothschild & Sons from 1981 to 1990, he was an informal advisor to Margaret Thatcher on economic policy. He was known as "Mr Privatisation".[1]

Early life

Michael Richardson was born on 9 April 1925 in London.[2][3][4] His father worked in insurance in the City of London.[2] His mother Audrey de Rougemont was of Huguenot origin.[2]

He was educated at Harrow School in London.[2] At the outset of World War II, he was evacuated to the United States, where he finished his education at the Kent School in Connecticut.[3] In 1943, he joined the war effort by serving in the Irish Guards.[2] He was wounded in Nijmegen, The Netherlands,[4] and later served in Palestine/Israel.[2]

Career

Richardson started his career for Harley Drayton in 1949.[2][3] Three years later, in 1952, he became a junior partner at Panmure Gordon & Co., where he worked until 1971.[2][3] He worked at Cazenove from 1971 to 1981.[2][3] He served as managing director of N M Rothschild & Sons from 1981 to 1990, and as its vice-chairman from 1990 to 1994.[2][3]

He served as the Chairman of Smith New Court from 1990 to 1995, and consultant from 1995 to 1996.[3] He served as the Vice-Chairman of Hambro Magan from 1995 to 1996.[3][5] He served as the Vice-Chairman of Hawkpoint Partners, a subsidiary of NatWest, from 1995 to 1996.[3] He served on the board of directors of the Savoy Hotel for twenty years.[2]

During Margaret Thatcher's prime ministerial years, he served as an informal advisor to HM Treasury.[3][4] He was knighted by Thatcher in 1990.[3]

His career came to an end due to unsafe loans he made to Alan Shephard, an American businessman.[3] As a result, he lost his licence with the Securities & Futures Authority.[3]

Freemasonry

Richardson was an active freemason.[6] He served as the Chairman of the Royal Masonic Hospital in Hammersmith, London.[2]

Personal life

He married Octavia Mayhew in 1949.[2][4] They had a son and two daughters. His granddaughter Dr. Flora Richardson married Richard de la Poer Beresford, Earl of Tyrone, heir of the Marquess of Waterford, in 2017.[3][4] His wife predeceased him, dying in 1999.[2][4]

He was the master of the Crawley and Horsham Hunt and summered on the Isle of Wight, where he enjoyed sailing.[2] He was a freemason.[2][4]

Death

He died on 12 May 2003 in London.[2][3] He was seventy-eight years old.[4]

See also

References

  1. ^ Sir Michael Richardson, The Times, 14 May 2003.
  2. ^ a b c d e f g h i j k l m n o p q Sir Michael Richardson, The Daily Telegraph, 14 May 2003.
  3. ^ a b c d e f g h i j k l m n o Nicholas Faith, Sir Michael Richardson: 'Privateer of privatisation' whose career ended in disgrace, The Independent, 16 May 2003.
  4. ^ a b c d e f g h Martin Adeney, Sir Michael Richardson: Suave financier who championed privatisation, The Guardian, 20 May 2003.
  5. ^ Sara Calian, NatWest Markets to Purchase J O Hambro Magan of the U.K., The Wall Street Journal, 11 October 1996.
  6. ^ "Time to lift the apron: Pressure is mounting for the Freemasons in big business to reveal all". The Independent. 19 September 1992. Archived from the original on 14 May 2022.