Sir Ernest Cassel | |
|---|---|
 Painted byAnders Zorn, 1906 | |
| Born | Ernest Joseph Cassel (1852-03-03)3 March 1852 |
| Died | 21 September 1921(1921-09-21) (aged 69) |
| Resting place | Kensal Green Cemetery,London,England |
| Nationality | British |
| Occupation | Merchant banker |
| Spouse | |
| Children | Amalia Mary Maud Cassel |
| Parent(s) | Jacob Cassel Amalia Rosenheim |
Sir Ernest Joseph Cassel,GCB, GCMG, GCVO, PC (3 March 1852 – 21 September 1921)[1] was a Britishmerchant banker and businessman. Born and raised inPrussia, he moved to England at the age of 17.[2]
Cassel was born inCologne, in theRhine Province of theKingdom of Prussia (now part ofGermany), the son of Amalia (née Rosenheim) and Jacob Cassel. His family wereAshkenazi Jews. His father owned a small bank, but the son Ernest arrived penniless inLiverpool, England in 1869. There he found employment with a firm of grain merchants. With an enormous capacity for hard work and a strong business sense, Cassel was soon in Paris working for a bank. Being of Prussian origin, theFranco-Prussian War forced him to move to a position in a London bank. He prospered, and was soon putting together his own financial deals.
His areas of interest were in mining, infrastructure and heavy industry. Turkey was an early area of business ventures, but he soon had large interests in Sweden, the United States, South America, South Africa, and Egypt. He was among the financiers of theAswan Dam, built in Egypt between 1899 and 1902, and was present in Egypt at the opening of the dam in December 1902.[3][4]
At the behest of the French and British governments, he reluctantly provided assistance for the establishment of theState Bank of Morocco,[5] provided for in the terms of the 1906Treaty of Algeciras.
In 1912 his close German friendAlbert Ballin feared that thenaval rivalry between Britain and Germany was getting out of hand and even threatened war. They approached their respective governments, who agreed to negotiate a compromise that would end the race through theHaldane Mission of 1912. Unfortunately, it proved a failure.[6]
One of the wealthiest men of his day, Cassel was a good friend ofKing Edward VII (enough so that he was nicknamed "Windsor Cassel"), prime ministerH. H. Asquith andWinston Churchill. As a foreign-bornarriviste of Jewish background, he was less than popular with elements of the British upper classes.[7][8][9]
Cassel retired from business in 1910. His philanthropic benefactions included £500,000 for educational purposes, £225,000 for a hospital for nervous diseases and £50,000 to King Edward's Hospital Fund in memory of his only child. He built and endowed an Anglo-German Institute in 1911 in memory ofKing Edward VII.[9]
During theFirst World War Cassel made large financial gifts to theBritish Red Cross and other war time charitable entities working to ameliorate privation being suffered by British military casualties.[10]
Cassel had a famous art collection and many beautiful houses. He bred racehorses and ownedMoulton Paddocks inNewmarket.
Cassel was married at Westminster, in 1878, to Annette Mary Maud Maxwell, the daughter of a Catholic landowner.[11] Their only child, Amalia Mary Maud Cassel (1880–1911), known as "Maud", marriedWilfrid Ashley, 1st Baron Mount Temple.
After the early death of his wife Annette in 1881, he and his widowed sister Wilhelmina (known as Bobbie) helped each other bring up his daughter (Maud) and Wilhelmina's son (Felix) and daughter (Anna).[8]
Maud died as a young woman, leaving him two granddaughters (Edwina andMary) on whom he doted. He was particularly attached to Edwina, who looked after him in his old age. She later married LordLouis Mountbatten.
Cassel's nephew was thebarristerSir Felix Cassel, who later becameJudge Advocate-General to the Forces.
Cassel became aRoman Catholic at the behest of his wife, but many still considered him a Jew. The establishment was surprised to find out that he had converted when he chose to be sworn into the Privy Council with theDouay–Rheims Bible.[7]
Cassel's friendship with the King and achievements in international finance earned him many British and foreign honours. Contemporary society gossip suggested that he demanded these as a return for his services.[7] In 1899, he was made a Knight Commander of theOrder of St Michael and St George (KCMG).[12] In 1901, he was made a Knight Commander of theRoyal Victorian Order (KCVO).[13]
He was sworn a member of thePrivy Council on 11 August 1902,[14] following an announcement of the King's intention to make this appointment in the1902 Coronation Honours list published in June that year.[15] In 1905, he was promoted to Knight Grand Cross of the Order of St Michael and St George (GCMG)[16] and, in 1906, he was promoted to Knight Grand Cross of the Royal Victorian Order (GCVO).[17] In the1909 Birthday Honours, he was made a Knight Grand Cross of theOrder of the Bath (GCB).[18]
Awards received in thanks for services to foreign governments included Commander, first class, of theRoyal Order of Vasa in 1900 from Sweden,[19] the Grand Cordon of the Imperial OttomanOrder of Osmanieh in December 1902 while visiting Egypt for the opening of the Assuan dam,[20][21] Commander of theLégion d'honneur in 1906 from France, theOrder of the Crown, first class, in 1908 fromPrussia, the Grand Cross of theOrder of the Polar Star in 1909 from Sweden, theOrder of the Rising Sun, first class, in 1911 from Japan and theOrder of the Red Eagle, first class withbrilliants in 1913 from Prussia.[7]
In 1919, Cassel founded and endowed theCassel Hospital, originally atSwaylands near Penshurst, and now atNo. 1 Ham Common,Ham, nearRichmond, London. The hospital is a therapeutic community for the mentally ill, providing residential, day and outreach services, part of theNHS.[citation needed]
Cassel died atBrook House,Park Lane, London. His body was buried inKensal Green Cemetery.[7]
Cassel's estate was valued at his death at£7,333,411 gross and £6,000,000 (equivalent to £336 million today[22]) for probate.[7] A 2001 study of probate records put the value at £7,333,000[23]
