Duke Buchan
Richard Duke Buchan III | |
|---|---|
| Born | July 3, 1963 near Henderson, North Carolina, U.S. |
| Occupation(s) | Financier, diplomat, agriculturalist, philanthropist |
| Known for | Founder and leader of Hunter Global Investors; United States Ambassador to Spain and Andorra (2017–2021); finance chairman of the Republican National Committee |
Richard Duke Buchan III (born July 3, 1963) is an American financier, diplomat, agriculturalist, and philanthropist. He established and leads Hunter Global Investors, a private investment management company. Buchan held the position of United States Ambassador to Spain and Andorra from 2017 until 2021. After his diplomatic service, he took on the role of finance chairman for the Republican National Committee.
In March 2025, Donald Trump put forward Buchan as the nominee for United States ambassador to Morocco.
Early life and education
Raised near Henderson, North Carolina on his family’s tobacco and cattle farms, Buchan completed a BA in economics and Spanish at the University of North Carolina at Chapel Hill (UNC-CH) in 1985. He later earned an MBA from Harvard Business School in 1991.
During his time at UNC-CH, Buchan participated in the university's study abroad programs at the University of Seville, Spain (1983–1984), and earlier studied at the University of Valencia in 1980. He attributes his global business outlook to these immersive experiences in Spanish language and culture.
Global finance career
Buchan embarked on his investment banking career in the early 1990s. Between 1992 and 1997, he worked at Merrill Lynch, focusing on global corporate finance and mergers and acquisitions within financial services across Latin America, the U.S., and Europe. In 1997, he transitioned to hedge fund Maverick Capital, overseeing investments in banks and financial services firms.
In 2001, Buchan founded Hunter Global Investors based in New York City. By 2007, Hunter managed roughly US$1.5 billion in assets and outperformed U.S. equities by 46% from inception through March 2011. After experiencing setbacks during the European debt crisis, Buchan shuttered one fund in December 2011 and returned capital to investors. Hunter Global Investors then evolved into a family office managing his family’s wealth while maintaining two active funds investing across multiple sectors including real estate.
By 2024, Buchan and his wife Hannah had developed approximately 1,500 residential units throughout the Southern United States via their business enterprises.
Diplomacy
On November 2, 2017, the Senate unanimously confirmed Buchan as U.S. Ambassador to Spain and Andorra. He officially assumed office on December 11, 2017. In 2019, he played a key role in modernizing the bilateral tax treaty to eliminate double taxation for companies operating between both nations. His ambassadorial priorities included fostering investment, addressing tax and trade matters, and encouraging Spain’s enhanced commitment to NATO.
Buchan was a vocal proponent of democracy and human rights, condemning authoritarian governments in Venezuela and Cuba. In May 2019, he joined seven other ambassadors as part of the inaugural U.S. delegation to the annual March of the Living educational program. Later that year, in November, he visited Venezuela’s border with Colombia to draw attention to the humanitarian crisis under Nicolás Maduro’s government and its Cuban ally. Writing for El Mundo, Buchan highlighted critical shortages impacting pregnant women, children, and elderly populations while calling for an end to oppressive rule. He also met with interim Venezuelan President Juan Guaidó in Madrid to reaffirm U.S. support for Venezuela’s National Assembly. Additionally, the U.S. Embassy successfully convinced Spanish oil firm Repsol to cease operations in Venezuela to comply with sanctions.
Politics
Buchan has held the position of State Victory Chair for both New York and Florida within the Republican National Committee. He has made significant financial contributions to various Republican organizations, including the Republican National Committee, National Republican Senatorial Committee, National Republican Congressional Committee, and the Republican Governors Association. Additionally, he has supported Florida politicians such as Senators Marco Rubio and Rick Scott. Initially, Buchan backed former Governor Jeb Bush during his 2016 presidential bid and was part of the executive committee for Bush's Right to Rise PAC. Subsequently, he and his wife Hannah became early supporters of Donald Trump's campaign. In May 2016, they contributed $898,000 to Trump Victory, reaching the legal federal donation limit and becoming the first donors to collectively give $1 million to the Donald Trump 2016 presidential campaign. Over time, they have donated and helped raise several million dollars, consistently ranking among the top two contributors. Campaign finance data reveals that Buchan gave over $940,000 to Trump's 2020 reelection effort. In November 2021, he was appointed as finance chair of the Republican National Committee.
Philanthropy
In 2011, Buchan founded The Buchan Excellence Fund within UNC-CH's Department of Romance Languages and Literature. This fund represents the largest individual endowment dedicated to supporting faculty and students focusing on Spanish language and culture. It promotes academic research and facilitates travel opportunities to Spain and other Spanish-speaking nations. A year later, in 2012, the fund supported the department's 21st Century Pen Pals initiative, a video exchange program linking American children with their counterparts in Spain.
December 2016 marked the opening of Buchan House, a new facility for the Arts and Sciences Foundation at UNC-CH. This development followed Buchan's donation to acquire and renovate the former Chapel Hill Public Library to serve as the foundation's headquarters.
Buchan has served as vice-chair of the UNC-CH Arts and Sciences Foundation Board of Trustees, participates in the Chancellor's Philanthropic Council, and is involved in the university’s Campaign Planning Cabinet. Furthermore, he has contributed to fundraising campaigns at Harvard Business School.
Personal life
Buchan and his wife Hannah are parents to three children. He owns agricultural properties in North Carolina and New York where he cultivates truffles, raises over one hundred varieties of tomatoes and other vegetables, and breeds horses. The Buchans manage a farm stand, engage in developing new tomato cultivars, and donate harvested produce to charitable organizations. Their main residence is located in Palm Beach, Florida, complemented by additional holdings including a horse farm in Upstate New York and an apartment on Fifth Avenue in New York City.
Buchan is proficient in Spanish, has conversational skills in French, and possesses basic knowledge of Italian, German, and Catalan.