Leo Frédéric Alfred Baron d'Erlanger
Leo Frédéric Alfred Baron d'Erlanger | |
|---|---|
| Born | July 2, 1898 Hamilton Place, London, England |
| Died | October 25, 1978 (aged 80) |
| Occupation | Merchant banker |
| Known for | Co-founder of British Airways, chairman of Erlanger Bank and Channel Tunnel Company |
Leo Frédéric Alfred Baron d'Erlanger (2 July 1898 – 25 October 1978) was a distinguished English merchant banker and an advocate for air transport development. He played a pivotal role as a co-founder of British Airways, chaired the Erlanger Bank, and led the Channel Tunnel Company.
Business
Baron Leo d'Erlanger established himself as a prominent merchant banker while actively promoting the British aviation sector. In 1947, he assumed the chairmanship of the Channel Tunnel Company, later known as Eurotunnel, with the project’s design and funding heavily supported by his family’s banking institution.
Continuing his family’s legacy, Leo began his career at Erlanger Bank in 1919, advancing to partner by 1927, director in 1939, and chairman in 1944. The bank notably functioned as the official financial institution for the Greek government.
In 1933, when Vogue publisher Conde Nast faced financial collapse, d’Erlanger collaborated with Lord Camrose to secure financing that allowed Nast to maintain control over both Vogue and Vanity Fair.
During the Second World War, he invested in military aviation projects, working alongside innovators such as Barnes Wallis and Fred Winterbotham on developments including the Bouncing bomb. He also provided support to International Alloys and contributed to the construction of the Mulberry Harbours.
As an early advocate for commercial aviation, d’Erlanger’s involvement began with Imperial Airways in 1926. He acquired stakes in Hillman Airways and, through Whitehall Securities, held interests in Spartan Airlines. These enterprises merged in 1935 with Clive Pearson’s companies to form British Airways, which was chaired by his cousin Sir Gérard d'Erlanger.
Leo also held directorships at both the British South African Chartered Company and the International Sleeping-Car Company, known for operating the famed Orient Express.
In 1958, under his oversight, Erlanger Bank was acquired by merchant bank Philip Hill Higginson, led by Kenneth Keith. Following the acquisition, it was renamed Philip Hill Higginson Erlanger Ltd. A leadership conflict arose when Keith opposed d’Erlanger’s continuation as chairman. Eventually, in 1965, the bank merged with private bank M Samuel to create Hill Samuel & Co, which was later absorbed by TSB Group Plc. in 1987 and ultimately integrated into Lloyds TSB by 1995.
Family and personal life
Born at Hamilton Place, London, Baron Leo d'Erlanger was the sole offspring of artist and musicologist Rodolphe François Baron d'Erlanger and Maria Elisabetha Cleofee Scolastica Countess Barbiellini-Amidei, descended from ancient Tuscan aristocracy. His maternal grandfather served as chamberlain to Pope Leo XIII, who also acted as Leo’s godfather.
On his father’s side, his grandparents were banker and railway financier Frédéric Emile Baron d'Erlanger and Marguérite Mathilde Slidell from America, daughter of influential lawyer and Senator John Slidell. His great-grandfather Baron Raphael von Erlanger founded Erlanger & Sons bank along with several other banking institutions including Weimarische Bank and Homburger Bank (later acquired by Dresdner Bank). He additionally held positions as Portuguese and Scandinavian Consul General and was a prominent financier within royal circles.
Leo had three notable uncles: zoologist Baron Raphael Slidell d'Erlanger; composer and banker Baron Frédéric Alfred d'Erlanger; and merchant banker Baron Emile Beaumont d'Erlanger. Spending much of his early years in France, he relocated with his family in 1910 to Sidi Bou Saïd, Tunisia, where they constructed Ennejma Ezzahra Palace—a property he eventually inherited.
In 1911, he enrolled at Eton College where he formed a close friendship with Conservative politician and media magnate Esmond Harmsworth, later serving as best man at Harmsworth’s wedding in 1920. During school breaks, Leo often stayed with his uncle Frédéric Alfred d'Erlanger in Knightsbridge.
He entered Sandhurst Military Academy in 1916 and served as a Second Lieutenant with the Grenadier Guards during World War I under Lieutenant Colonel Viscount Gort. His service on the Western Front in 1918 resulted in shellshock.
In his youth, d’Erlanger maintained a friendship with Ettore Bugatti and owned several Bugatti automobiles, including a notable 1928 Type 44 Fiacre prized among collectors.
In his final testament, Baron Leo requested that his coffin be transported on the inaugural train passing through the Channel Tunnel upon its opening in 1994; however, this wish was denied by authorities.
Marriage
In 1929, Leo d'Erlanger wed Edwina Prue (1907–1994), an American national. Prior to their marriage, she held a position as a junior editor at Vanity Fair under the leadership of Clare Boothe Luce, was a leading model for Jean Patou in Paris, and gained acclaim as a ballroom dancer under the name Edwina Saint Clair. Edwina was also the elder sibling of Mary Warburg, belonging to the distinguished Warburg banking lineage.
Their residence was located at 44 Upper Grosvenor Street in Mayfair, London. By 1935, their home had attracted attention from Vogue, which described it as "the new house all London is talking about," emphasizing its distinctive design.
In 1974, Leo and Edwina moved away from Great Britain to divide their time between Geneva and their estate, Ennejma Ezzahra, situated in Sidi Bou Saïd near Tunis. During this period, Leo engaged in ventures related to olive oil production.
Descendants
- Tess Edwina May Baroness d'Erlanger (1934–2008)
- Leo Alexandre d'Erlanger-Bertrand (born 1963)
- Oliver Alexander d'Erlanger-Bertrand (born 1992)
- Louis Leo James d'Erlanger-Bertrand (born 2022)
- Rebecca Bunty d'Erlanger-Bertrand (born 1995)
- Oliver Alexander d'Erlanger-Bertrand (born 1992)
- Leo Alexandre d'Erlanger-Bertrand (born 1963)
- Rodolphe Frédéric Baron d'Erlanger (1945–2000), who married Lady Caroline Mary Cholmondeley in 1982
- Leo Frédéric Hugh d'Erlanger (born 1983)
- Joshua Robert David d'Erlanger (born 1987)