People & Business: Chip off the old block had an auspicious start to life

I had not realised until now that Sir Chips Keswick, chairman of Hambros Bank, got his Christian name because he was conceived on a Chippendale.

Whether this was a Chippendale chaise-longue or chair is not clear, although I am happy to provide a picture of an example of the 18th-Century master craftsman's handiwork. Who knows, this may be the very chair.

Andrew Regan's failed bid for the Co-op throws up other strange stories. The two corporate financiers who opposed each other in the bid battle once worked with each other, or at least for the same bank.

Peter Large, the Hambros man who advised Mr Regan on the bid, was until September 1995 the managing director of SBC Warburg's corporate finance arm. This was just after the merger of SG Warburg and SBC in July 1995. And of course Brian Keelan, who has been advising the Co-op during the fracas, has been with SBC since 1989. He is now managing director of corporate finance at the merged bank.

With Mr Keelan victorious and Mr Large awaiting the outcome of the various enquiries into the Regan affair, I wonder if the former colleagues will still be exchanging Christmas cards this year.

Apcims, the Association of Private Client Investment Managers & Stockbrokers, has announced the retirement of founder chairman John Cobb and appointment of his successor, Michael Read of Greig Middleton.

Mr Cobb, 65, said yesterday: "Since our founding seven years ago, we have fought many battles on major issues such as Taurus, Rolling Settlement and Crest. We have opposed the excesses of the regulators, have promoted our members' services and defended their interest in an institutionally- dominated world."

Mr Read, 54, is a founder director of Greig Middleton, now the UK's largest retail stockbroker. He heads the investment management department, with pounds 7.5bn under management.

He is also the fifth generation of his family to be a stockbroker. Hopefully this will help him deal with the expected avalanche of share deals from the current splurge of building society flotations.

My thanks to Barry Lloyd of Saffron Waldon, Essex, for the following missive: "I noted that in the party political broadcast by Tony Blair he made coffee in his kitchen in a Cable TV industry mug.

"Is the Labour Party now accepting product placements and if so was this not rather misplaced considering Mr Blair has promised his support to BT?"

Mathew Ponsonby, senior associate director of Deutsche Morgan Grenfell, is in charge of the Halifax flotation. Future shareholders may like to know that he has a distinguished heritage.

One of Mr Ponsonby's ancestors was a cavalry officer at the Battle of Waterloo. Sitting on his horse near the Duke of Wellington, commander of the allied forces arrayed against Napoleon, Ponsonby's leg was blown off by a cannonball. Looking down he exclaimed: "By God Sir, I've lost my leg."

To which the Iron Duke, unperturbed, replied: "By God sir, so you have."

I believe another Ponsonby ancestor participated in the Charge of the Light Brigade, although I expect the dialogue wasn't quite as good. No doubt the present Mr Ponsonby's efforts will be more successful, if not so glorious.

"The Romance of Buried Treasure" is a fascinating chapter from The Art of Speculation, a book by Wall Street investment guru Philip L Carret.

It was obviously written with recent mining share scandals such as Bre- X in mind, where thousands of investors lost out when mining investments went wrong.

Mr Carret writes: "Victims of the financial underworld, the proverbial widows and orphans who place their funds in worthless securities, are prone to select mining and oil stocks as the vehicles of their misfortunes. There is undeniably a certain glamour about the adventure of extracting its mineral wealth from the earth's crust."

The book was written in 1930 and is being reissued as an investment classic. As far as throwing money at holes in the ground goes, however, it proves that nothing changes.

United News & Media has promoted Gerry Wilton chief executive of its broking companies, Harlow Butler and Garban. In addition to his previous responsibilities for the broking businesses in Europe and Asia he will now add the businesses in North and South America. Although Lord Hollick's company may be best known for its Express newspaper titles, it also owns the largest integrated money and securities broking group in the world.

Suggested Topics
Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Collections Agent

£14000 - £16000 per annum: Recruitment Genius: This company was established in...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...

Reach Volunteering: Trustees with Finance, Fundraising and IT skills

Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...

Day In a Page

Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones
Theme parks continue to draw in thrill-seekers despite the risks - so why are we so addicted?

Why are we addicted to theme parks?

Now that Banksy has unveiled his own dystopian version, Christopher Beanland considers the ups and downs of our endless quest for amusement
Tourism in Iran: The country will soon be opening up again after years of isolation

Iran is opening up again to tourists

After years of isolation, Iran is reopening its embassies abroad. Soon, there'll be the chance for the adventurous to holiday there
10 best PS4 games

10 best PS4 games

Can’t wait for the new round of blockbusters due out this autumn? We played through last year’s offering
Transfer window: Ten things we learnt

Ten things we learnt from the transfer window

Record-breaking spending shows FFP restraint no longer applies
Migrant crisis: UN official Philippe Douste-Blazy reveals the harrowing sights he encountered among refugees arriving on Lampedusa

‘Can we really just turn away?’

Dead bodies, men drowning, women miscarrying – a senior UN figure on the horrors he has witnessed among migrants arriving on Lampedusa, and urges politicians not to underestimate our caring nature
Nine of Syria and Iraq's 10 world heritage sites are in danger as Isis ravages centuries of history

Nine of Syria and Iraq's 10 world heritage sites are in danger...

... and not just because of Isis vandalism
Girl on a Plane: An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack

Girl on a Plane

An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack
Why Frederick Forsyth's spying days could spell disaster for today's journalists

Why Frederick Forsyth's spying days could spell disaster for today's journalists

The author of 'The Day of the Jackal' has revealed he spied for MI6 while a foreign correspondent