Hugh Stevenson (investment banker)

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Sir Hugh Stevenson
Born7 September 1942
NationalityBritish
Alma materHarrow
University College, Oxford
OccupationInvestment banker
Known forChairman, Mercury Asset Management, 1992-1998

Sir Hugh Alexander Stevenson (born 7 September 1942) is a businessman known for being a former chairman of Mercury Asset Management and Equitas.[1]

Career[]

Stevenson began his career at law firm Linklaters and Paine before joining S.G. Warburg & Co. in 1970. He went on to become chairman of Mercury Asset Management from 1992 to 1998.[1] Stevenson was on the board of Warburg from 1987 to 1995,[2] at which point it was bought by SBC and its ties with Mercury Asset Management were severed.[3]

As Chairman of Mercury Asset Management, Stevenson oversaw the company’s sale to Merrill Lynch in late 1997,[4] which saw Mercury colleagues Carol Galley and Stephen Zimmerman become co-heads of the newly created Merrill Lynch Investment Management (MLIM).[5][6]

Following his departure from Mercury Asset Management in 1998, Stevenson took on the chairmanship of Equitas,[1] the company that was set up to reinsure the liabilities of over 30,000 “Names” of Lloyd’s of London insurance syndicates. He remained chairman of Equitas through to the transfer of liabilities in 2009.[7] He was knighted for services to the financial services industry in the 2010 Birthday Honours list.

Other non-executive directorships that Stevenson held following his departure from Mercury included a position on the board of Standard Life Investments from 1999 through to 2008,[1] the last four years of which he was non-executive chairman.[8][9] He held other non-executive directorships at Standard Life plc (2006-2008);[1] Merchants Trust (1999-2010),[1] which he chaired; and the Financial Services Authority (2004-2010).[1]

Stevenson was also a director of the British Museum Company, which oversees the running of the British Museum for 15 years from 1991 to 2006.[1]

References[]

  1. ^ a b c d e f g h "Directorships of Hugh Stevenson". UK Companies House. Retrieved 31 August 2018.
  2. ^ "Biography". UK Cabinet Office. Archived from the original on 31 August 2018. Retrieved 31 August 2018.
  3. ^ Stevenson, Richard (11 May 1995). "Swiss bank in deal to buy S.G.Warburg". The New York Yimes. Retrieved 31 August 2018.
  4. ^ "MAM says new owner must have a light touch". The Independent. 13 May 1995. Retrieved 31 August 2018.
  5. ^ Stevenson, Tom (20 November 1997). "Merrill snaps up MAM in unexpected £3.1bn deal". The Independent.
  6. ^ Truell, Peter (20 November 1997). "Merrill to acquire Mercury, British firm for $5.3 billion". The New York Times. Retrieved 31 August 2018.
  7. ^ Sunderland, Ruth (5 July 2009). "Lloyd's Names ruling means Stevenson's work is done". The Guardian. Retrieved 4 September 2009.
  8. ^ Brooksbank, Daniel (30 January 2004). "Standard Life Investments names acting CEO". Investments & Pensions Europe. Retrieved 31 August 2018.
  9. ^ "Standard Life Investments chief retires after nearly a decade". The Scotsman. 28 November 2007. Retrieved 31 August 2018.
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