Herbert Samuel Holt
Sir Herbert Samuel Holt | |
|---|---|
| Born | Template:Birth date Near Geashill, County Offaly, Ireland |
| Died | September 28, 1941 (aged 86) |
| Occupation(s) | Businessman, banker, civil engineer |
| Known for | President of Royal Bank of Canada and Montreal Light, Heat & Power; founder of Town of Hampstead, Quebec |
Sir Herbert Samuel Holt (12 February 1855 – 28 September 1941) was an Anglo-Irish Canadian who transitioned from civil engineering into a prominent career as a businessman, banker, and corporate leader. He held the presidency of both the Royal Bank of Canada and Montreal Light, Heat & Power, and was involved as a director in nearly 250 companies across the globe, overseeing assets close to $200 million. Upon his passing, the Montreal Gazette described him as "Canada's wealthiest individual," though his aggressive business methods earned him considerable unpopularity among Montreal’s elite in the Golden Square Mile. Holt also played a key role in founding the Town of Hampstead, Quebec.
Early life
Holt was born near Geashill in County Offaly as the second son to William Robert Grattan Holt of Carberry House, County Kildare. The family estate included Ballycrystal, a 291-acre grazing farm. Some observers questioned the integrity of the family’s commercial dealings. While his older brother inherited the family properties, Herbert pursued civil engineering studies in Dublin before emigrating to Canada in 1873. He began his career as an assistant engineer with Toronto Water Works and later, during the 1880s, worked under James Ross on surveying and building segments of the Canadian Pacific Railway through the prairies and Rocky Mountains.
Career
Holt became a trailblazer in Quebec’s energy industry as owner of the Montreal Gas Company. In 1901, he combined it with Rodolphe Forget’s Royal Electric Company to create Montreal Light, Heat & Power Company, which eventually became part of Hydro-Québec through nationalization. From 1908 until 1934 he served as president of the Royal Bank of Canada and remained its chairman until his death. He was also instrumental in founding the Ritz-Carlton Montreal and held board memberships at Montreal Trust Company, Canada Car and Foundry, among other leading Canadian enterprises. In 1913, Holt was appointed chairman of the Federal Plan Commission and received a knighthood from King George V in 1915. He passed away in 1941 and was interred at Mount Royal Cemetery in Montreal. His significant contributions to Canadian business were honored posthumously with induction into the Canadian Business Hall of Fame in 1979.
Reputation
Among Montreal’s wealthiest figures, Holt was also one of its most divisive businessmen. His stern approach as a banker became especially pronounced during the Great Depression when he reported annual profits reaching 150%, despite widespread economic distress affecting many Canadians. His unyielding focus on maximizing profits during this period made him a figure of considerable controversy.
Family
In 1890, Holt wed Jessie Paton from Sherbrooke, Quebec. The couple maintained multiple residences including homes in Montreal’s Golden Square Mile, Nassau (Bahamas), Send Grove near Woking in England, and a summer house in Westmount.
Their three sons were:
- Major Herbert Paton Holt (1890–1971), an alumnus of the Royal Military College of Canada, inherited both Send Grove and Ballycrystal estates. A veteran of two world wars and military historian author, he owned properties in Mayfair and Wiltshire, England, where he held roles as High Sheriff and Member of Parliament for Upton, Essex.
- Major Andrew Paton Holt (1893–1964), also educated at RMC, took over many of his father’s business interests in Montreal. Although Lord Beaverbrook attempted to have him knighted, he never received such an honor. He died suddenly from a heart attack while in London.
- Major William Robert Grattan Holt (1900–1947), educated at Marlborough College and RMC, survived the 1915 Lusitania sinking. Serving as a major during World War II, he converted his Montreal residence into a naval hospital. His daughter Pam Dunn became recognized for her philanthropy supporting numerous charities across Montreal.
In 1920, Holt contributed two hangars from imperial war surplus to the Royal Military College of Canada; these structures were transformed into a covered skating rink—further solidifying his enduring legacy within Canadian military and educational circles.