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Thomas Sutherland (banker)

From Wikipedia, the free encyclopedia
Scottish banker, founder of HSBC (1834–1922)

Thomas Sutherland
Sutherland,c. 1890
Born(1834-08-16)16 August 1834[1]
Aberdeen, Scotland
Died1 January 1922(1922-01-01) (aged 87)
London, England
Alma materUniversity of Aberdeen
Occupation(s)Banker
Politician
Known forFounder ofHSBC
SpouseAlice Macnaught (m. 1880, died 1920)
Children3
Helen Sutherland
Eric Macnaught Sutherland
Thomas Leslie Macnaught Sutherland
FatherRobert Sutherland ofAberdeen
Caricature of Thomas Sutherland by Spy

Sir Thomas Sutherland,GCMG (Chinese:蘇石蘭, 16 August 1834 – 1 January 1922) was a Scottish banker and politician, initially elected to represent theLiberal Party and then as aLiberal Unionist. He foundedHSBC and was a director ofP&O.

Early life

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Sutherland was the son of Robert Sutherland and Christian Webster ofAberdeen. He was educated at theUniversity of Aberdeen.

Career

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Sutherland got his start clerking in theLondon office ofP&O. Soon after, P&O promoted Sutherland to superintendent, assigning him toBritish Hong Kong to manage the firm's Asian operation.[2] In 1863, he became the first chairman of theHong Kong and Whampoa Dock. In order to help finance the burgeoning trade between China and Europe, and explore the potential for China—United States trade, Sutherland establishedHSBC in 1865[3] and became its first vice-chairman.

He was appointed member of theLegislative Council of Hong Kong from 1865 to 1866. In 1872 he was appointed Managing Director of P&O.[4]

In November 1884, Sutherland was elected at a by-election as theMember of Parliament (MP) forGreenock.[5] A Liberal, he was re-elected in1885, but when the Liberals split overIrish Home Rule he joined the breakawayLiberal Unionist Party. He was re-elected as a Liberal Unionist in1886, but lost the seat at the1892 general election. However, he was reinstated when his opponent was unseated on petition,[6] and held the seat until he stood down at the1900 general election.[6]

Personal life

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In 1880, Sutherland married Alice MacNaught. She was the daughter of Rev. John Macnaught of Trinity Church, Conduit Street,London,England. The couple had two sons, and a daughter,Helen Christian Sutherland (1881–1965), known as an art patron; one of the sons, Eric Macnaught Sutherland, died in theSecond Boer War, the other son, Thomas Leslie Macnaught Sutherland, died duringWorld War I. In 1920, his wife Alice died.[7][8]

Death and legacy

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In 1922, Sutherland died inLondon, England. Sutherland Street inSheung Wan,Hong Kong was named after him.

References

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  1. ^Burke, Bernard; Ashworth Peter, Burke (1910).A Genealogical and Heraldic History of the Peerage and Baronetage, the Privy Council, Knightage and Companionage. Harrison. p. 2367.
  2. ^Winn, Christopher (2012).I Never Knew That About the Scottish.Random House.ISBN 978-1407028934.
  3. ^Finel-Honigman, Irene (2009).A Cultural History of Finance.Routledge. p. 116.ISBN 978-1135238513.
  4. ^Debretts Guide to the House of Commons 1886
  5. ^Craig, F. W. S. (1989) [1977].British parliamentary election results 1832–1885 (2nd ed.). Chichester: Parliamentary Research Services. p. 548.ISBN 0-900178-26-4.
  6. ^abCraig, F. W. S. (1989) [1974].British parliamentary election results 1885–1918 (2nd ed.). Chichester: Parliamentary Research Services. p. 510.ISBN 0-900178-27-2.
  7. ^Harcourt, Freda. "Sutherland, Sir Thomas".Oxford Dictionary of National Biography (online ed.). Oxford University Press.doi:10.1093/ref:odnb/36373. (Subscription,Wikipedia Library access orUK public library membership required.)
  8. ^Bill Peschel, ed. (2014).The Early Punch Parodies of Sherlock Holmes. Peschel Press. p. 282. GGKEY:F7G5E4WJ95H.

External links

[edit]
Parliament of the United Kingdom
Preceded byMember of Parliament forGreenock
18841892
Succeeded by
John Bruce
(unseated on petition)
Preceded by
John Bruce
Member of Parliament forGreenock
1892–1900
Succeeded by
Legislative Council of Hong Kong
Preceded byUnofficial Member
1865–1866
Served alongside:Francis Chomley,James Whittall
Succeeded by
International
Other
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