Hollis

Sir Michael Herries, OBE, MC, JP (Sir Michael Alexander Robert Young-Herries), was a British and Hong Kong businessman and former taipan of Jardine Matheson. He moved to Hong Kong in 1949, where he served as Chairman of Jardine, Chairman of the Hong Kong General Chamber of Commerce, an unofficial member of the Legislative Council of Hong Kong, acting unofficial member of the Executive Council, and the first Chairman of the University Grants Committee (UGC) from 1965 to 1973 (renamed as the University and Polytechnic Grants Committee from 1972 to October 1994).

In October 1965, Herries submitted an application to the Hong Kong government’s Transport Advisory Committee to raise the first-class fare of the Star Ferry operated by Jardine. His refusal to back down and remarks to the press—"those who cannot afford first class after the fare increase can take third class"—sparked public outrage and contributed to the 1966 Kowloon Riots. After stepping down from Jardine in 1970, he returned to the United Kingdom, becoming Chairman of the Royal Bank of Scotland Group and Scottish Mortgage and Trust. In 1983, he was appointed Deputy Lord Lieutenant of Stewartry in Dumfries and Galloway and was later promoted to Lord Lieutenant from 1989 to 1995.

Life

Early Life

Herries was born on 28 February 1923 in Spottes, near Castle Douglas, Dumfries and Galloway, Scotland. His father, William Herries, was a local landowner, and his mother was Ruth Mary Thrupp.

He was educated at Eton College, excelling in classics and sports. He later attended Trinity College, Cambridge, majoring in Classics and participating in rowing and hunting. In 1942, his studies were interrupted by World War II, during which he joined the King’s Own Scottish Borderers, where his father served as a commanding officer. He saw action in the Low Countries and Germany and was awarded the Military Cross in 1945.

Near the end of WWII, he was deployed to the Middle East, serving in Egypt and Palestine. He resumed studies in 1947 and earned a Master of Arts in 1948. That year, he joined Jardine Matheson as a junior accountant in the London office. In 1949, he retired from the army as a captain but remained on reserve lists. He maintained lifelong interest in his regiment, advocating for its preservation in 1993 when there were government plans to merge it into the Royal Scots.

Career at Jardine Matheson

In 1949, Herries was posted to Hong Kong and quickly rose through the ranks. By 1959, he was appointed to Jardine’s board. He became Managing Director in 1962 and Chairman in June 1963, succeeding Hugh Barton. He also chaired various Jardine subsidiaries and sat on the board of HSBC.

In October 1965, Star Ferry, chaired by Herries, applied for a fare increase. Despite the recommendation of a limited fare rise by the Transport Advisory Committee, Herries stated on 30 March 1966, "those who cannot afford first class after the increase can take third class," sparking public outrage and the 1966 Kowloon Riots.

In 1963, Jardine’s subsidiary Hongkong Land redeveloped Prince’s Building in Central. The new building was completed in 1965, but the onset of the Cultural Revolution in 1966 disrupted trade with mainland China. By 1969, Jardine gradually resumed trade with China and expanded its local operations, especially in textile exports.

During the 1967 Leftist Riots, Herries was appointed as acting unofficial member of the Legislative Council from 23 March to 19 May and again from 3 June to 15 September. He supported strong anti-violence stances and was awarded the OBE in 1968. He became Vice-Chairman and then Chairman of the General Chamber of Commerce and was appointed Justice of the Peace in 1968. In 1969, he also briefly served as acting unofficial member of the Executive Council.

In 1965, he was appointed the founding Chairman of the University Grants Committee. The UGC advised the government on funding for the University of Hong Kong and the Chinese University of Hong Kong. Notable founding members included Q. W. Lee and S. Y. Chu.

He stepped down as Jardine Chairman in 1970 and left the Chamber and LegCo but remained as UGC Chairman until 1973. In recognition, CUHK and HKU conferred honorary Doctor of Laws degrees on him in 1973 and 1974 respectively. In 1975, he was knighted by Queen Elizabeth II.

Return to Britain

After 1970, Herries continued to lead Jardine’s London operations as Chairman of Matheson & Co. from 1971 to 1975, and Jardine Fleming Trust Japan from 1972 to 1976. He remained on Jardine’s board until 1988.

In 1972, he joined the Royal Bank of Scotland as a director and became Chairman in 1976. He restructured the bank in 1979 into the Royal Bank of Scotland Group and acquired several banks including Charterhouse Bank and Citizens Bank of Rhode Island, sometimes competing directly with HSBC. He stepped down as Chairman in 1991 and retired from the board in 1992.

He also served as director and later Chairman (1984–1993) of Scottish Mortgage and Trust, and held positions at Lloyds & Scottish plc and Scottish Widows.

Later Years

Herries retired to Spottes Hall in his hometown and was appointed Deputy Lord Lieutenant of Stewartry in 1983, and Lord Lieutenant in 1989. He promoted economic development via the Local Enterprise Company and was a member of the Royal Company of Archers.

He died on 6 May 1995 in Dumfries at age 72. He was succeeded by Lieutenant General Sir Norman Arthur.

Personal Life

In 1948, he married Elizabeth Hilary Russell Smith in Surrey, England. They had two sons, William and Robert, and a daughter, Julia. His wife and daughter officiated the Jardine Noon Day Gun ceremony in 1963 and 1969. He was a member of the New Club (Edinburgh), Caledonian Club, and Farmers Club.

Career Summary

• Joined Jardine Matheson – 1948
• Director, Jardine Matheson – 1959–1988
• Chairman & Managing Director, Jardine – 1963–1970
• Chairman, University Grants Committee – 1965–1973
• Acting Unofficial Member, Legislative Council – 1967
• Unofficial Member, Legislative Council – 1 July 1968 – 2 July 1970
• Acting Unofficial Member, Executive Council – 1969
• Chairman, Matheson & Co. – 1971–1975
• Chairman, Jardine Fleming Trust Japan – 1972–1976
• Chairman, Royal Bank of Scotland Group – 1978–1991
• Chairman, Scottish Mortgage and Trust – 1984–1993
• Lord Lieutenant of Stewartry, Dumfries and Galloway – 1989–1995

Honours

Decorations

• Military Cross – 1945
• Justice of the Peace (unofficial) – 1968
• Officer of the Order of the British Empire (OBE) – 1969 New Year Honours
• Knight Bachelor – 1975 Birthday Honours
• Deputy Lieutenant – 1983

Honorary Degrees

• Honorary Doctor of Laws
  • Chinese University of Hong Kong – 1973
  • University of Hong Kong – 1974
• Honorary Doctor of Letters
  • Heriot-Watt University – 1984

See Also

• Noel Croucher
• University Grants Committee
• Royal Bank of Scotland

References

English Sources

• Annual Report 1967–1970, Hong Kong Government
• Honorary Graduates, University of Hong Kong, 1974
• London Gazette, multiple issues
• The International Year Book and Statesmen's Who's Who, 1984
• The Independent obituary, 12 May 1995
• The Thistle and the Jade: A Celebration of 175 Years of Jardine Matheson, 2008
• International Directory of Company Histories, 2008

Chinese Sources

• Wah Kiu Yat Po, 27 October 1965
• Ta Kung Pao, 1 April 1966
• University Grants Committee Report 1991–95

External Links

• [Archived] HKU Honorary Graduate Citation
• [Archived] Independent obituary