People & Business: He's 86, but Jimmy can't drag himself away from the City

Congratulations in advance to Jimmy Herbert, Britain's oldest full-time working stockbroker, who celebrates his 86th birthday on Friday. As a partner of Branston & Gothard, Mr Herbert still works from 7.30am to 4.45pm daily - "probably because I'm an idiot," he says.

Not many people can remember the Wall Street Crash of 1929. So what changes strike Mr Herbert as he looks back over his career?

"The sheer volatility of the market nowadays is amazing - movements up and down totalling 100 points a day seem common. The other truly staggering change is the technology. Companies give out so much information nowadays, you can practically find out the colour of the chairman's underpants at the push of a button," he says.

He has no intentions of letting up, either. "The City is still a great place. Although we don't meet on the floor of the House [Stock Exchange] any more, we still meet around the City. I would miss it enormously. I became a member of the Stock Exchange in 1943 and I've enjoyed it."

"The 1974 crash was possibly the worst moment, looking back. But one always felt there was a way ahead."

No doubt Mr Herbert will have plenty of memories to share with colleagues at his party on Friday in the Fox, a suitably traditional City watering hole just north of Finsbury Square. Yuppies, weep your heart out.

George Mallinckrodt, president of Schroders, the most successful British merchant bank to remain independent, has got his just deserts: an honorary knighthood.

The honorary bit comes because he is a German national, having been born and brought up there. In fact his full German title is Georg Wilhelm von Mallinckrodt, and he has already been honoured by the then Federal Republic of Germany in 1986 with the Verdienstkreuz am Bande des Verdienstordens, roughly translated as "a medal for services rendered".

Mr Mallinckrodt joined Schroders in New York in 1954 and in 1958 he married Charmaine Schroder, sister of Bruno Schroder, the family member who sits on the bank's board and represents roughly 40 per cent of the bank's shares.

In 1960 Mr Mallinckrodt was transferred to London and he became a director in 1977. He served as chairman from December 1984 until May 1995, and together with chief executive Win Bischoff turned Schroders into a premier merchant banking and fund management house.

It seems ironic that a German and a South African have managed to escape the overseas predators while rivals such as Warburg and Kleinwort have passed into overseas ownership.

Mr Mallinckrodt is a fully paid-up member of the great and good, sitting on a host of committees. He also played a leading role in the Bank of England's attempt to save Barings, and sat on the Treuhand, the east German privatisation board. He'll be a hard act to follow.

Talking of which, so will Ian Carr, who is due to retire from Carr's Milling Industries after 33 years as chairman - a distinction he shares with Sir Arnold Weinstock, who recently retired from GEC, also after 33 years as chairman.

Chris Holmes, chief executive of the Carlisle-based food and engineering group, laughs. "Its just a coincidence. Ian is 68. The firm was founded by his great-grandfather in 1831. He'll be replaced by David Newton, chief executive of Hillsdown Holdings until last year."

Mr Newton, a mere spring chicken at 54, will take over next September. Mr Carr will remain as non-executive vice-chairman until August 1998.

Mr Holmes says: "He's an active sort of chap. He's still the chairman of the North Cumbria Health Authority."

Outside work, Mr Carr's main passion is golf. He's a member of the Royal & Ancient, St Andrew's, and Silloth Golf Club. He will have to wait until September, when he stands down officially as chairman, before he has more time to practise reducing his handicap.

Honor Chapman CBE, a partner in Jones Lang Wootton, has been appointed a Crown Estate Commissioner. A challenging job for a surveyor, as the Crown Estate is valued at over pounds 2bn and is the largest property organisation in the UK.

The portfolio, which dates back to Edward the Confessor, includes urban property in London, Edinburgh, Manchester, Birmingham and elsewhere totalling almost 120,000 hectares.

The estate also owns around half the UK's foreshore and almost all the seabed out to the 12-mile territorial limit.

Although part of the hereditary possessions of the Sovereign, since 1760 all of the revenues from the Crown Estate, which last year totalled pounds 94.6m, have been paid to the Treasury, in part to fund the Civil List. Mrs Chapman joins the seven other commissioners following the retirement of Dick Caws.

Suggested Topics
PROMOTED VIDEO
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

Training/Learning and Development Coordinator -London

£28000 - £32000 per annum: Ashdown Group: Training/Learning and Development Co...

Training Programme Manager (Learning and Development)-London

£28000 - £32000 per annum + benefits: Ashdown Group: Training Programme Manage...

.NET Software Developer (.NET, C#, ASP.NET, front-end)

£30000 - £45000 per annum: Harrington Starr: A Global Financial Service Organi...

C# Web developer (C#,MVC,ASP.NET,SQL)

£30000 - £40000 per annum + Bonus+Benefits+Package: Harrington Starr: C# Web d...

Day In a Page

A new Russian revolution: Cracks start to appear in Putin’s Kremlin power bloc

A new Russian revolution

Cracks start to appear in Putin’s Kremlin power bloc
Eugene de Kock: Apartheid’s sadistic killer that his country cannot forgive

Apartheid’s sadistic killer that his country cannot forgive

The debate rages in South Africa over whether Eugene de Kock should ever be released from jail
Standing my ground: If sitting is bad for your health, what happens when you stay on your feet for a whole month?

Standing my ground

If sitting is bad for your health, what happens when you stay on your feet for a whole month?
Commonwealth Games 2014: Dai Greene prays for chance to rebuild after injury agony

Greene prays for chance to rebuild after injury agony

Welsh hurdler was World, European and Commonwealth champion, but then the injuries crept in
Israel-Gaza conflict: Secret report helps Israelis to hide facts

Patrick Cockburn: Secret report helps Israel to hide facts

The slickness of Israel's spokesmen is rooted in directions set down by pollster Frank Luntz
The man who dared to go on holiday

The man who dared to go on holiday

New York's mayor has taken a vacation - in a nation that has still to enforce paid leave, it caused quite a stir, reports Rupert Cornwell
Best comedians: How the professionals go about their funny business, from Sarah Millican to Marcus Brigstocke

Best comedians: How the professionals go about their funny business

For all those wanting to know how stand-ups keep standing, here are some of the best moments
The Guest List 2014: Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks

The Guest List 2014

Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks
Jokes on Hollywood: 'With comedy film audiences shrinking, it’s time to move on'

Jokes on Hollywood

With comedy film audiences shrinking, it’s time to move on
It's the best of British art... but not all is on display

It's the best of British art... but not all is on display

Voted for by the British public, the artworks on Art Everywhere posters may be the only place where they can be seen
Critic claims 'I was the inspiration for Blanche DuBois'

Critic claims 'I was the inspiration for Blanche DuBois'

Blanche Marvin reveals how Tennessee Williams used her name and an off-the-cuff remark to create an iconic character
Sometimes it's hard to be a literary novelist

Sometimes it's hard to be a literary novelist

Websites offering your ebooks for nothing is only the latest disrespect the modern writer is subjected to, says DJ Taylor
Edinburgh Fringe 2014: The comedy highlights, from Bridget Christie to Jack Dee

Edinburgh Fringe 2014

The comedy highlights, from Bridget Christie to Jack Dee
Dame Jenny Abramsky: 'We have to rethink. If not, museums and parks will close'

Dame Jenny Abramsky: 'We have to rethink. If not, museums and parks will close'

The woman stepping down as chair of the Heritage Lottery Fund is worried