Michael Forsyth, Baron Forsyth of Drumlean

Michael Forsyth, Baron Forsyth of Drumlean
Michael Forsyth, Baron Forsyth of Drumlean
Born	Michael Bruce Forsyth; October 16, 1954 (age 72); Montrose, Angus, Scotland
Occupation(s)	Financier, politician
Years active	1978–present
Known for	Secretary of State for Scotland (1995–1997), Chairman of Secure Trust Bank, Chairman of the Economic Affairs Committee (House of Lords)

Michael Bruce Forsyth, Baron Forsyth of Drumlean, born on 16 October 1954, is a British financier and Conservative Party politician. He represented the Stirling constituency as a Member of Parliament from 1983 until 1997 and held the position of Secretary of State for Scotland in John Major's cabinet between 1995 and 1997.

Forsyth currently serves as Chairman of Secure Trust Bank and sits on the boards of J&J Denholm and Denholm Logistics Ltd. Before their merger in 2015 with RKH Group, he was both director and Chairman of Hyperion Insurance Group. His previous roles include Deputy Chairman at JPMorgan UK and Evercore Partners International. Knighted in 1997, he was elevated to the House of Lords in 1999. As a Privy Council member, Forsyth has contributed to the Development Boards of the Royal Society and the National Portrait Gallery. Additionally, he has held the presidency of the Royal Highland and Agricultural Society of Scotland.

Reappointed to the Economic Affairs Committee of the House of Lords in 2015, Forsyth assumed its chairmanship in 2017. In September 2021, he was chosen as Chairman of the Association of Conservative Peers, which serves as the Lords’ equivalent to the Commons’ 1922 Committee. He also holds the presidency of the Steamboat Association of Great Britain.

Early life

Born in Montrose, Angus, Forsyth is the eldest child of John T. and Mary Forsyth. He attended Arbroath High School before matriculating at the University of St Andrews from 1972 to 1976, where he led the Conservative Association as President from 1973 to 1976. During his university years, Forsyth cultivated interests in debating, history, science, and political activism.

Parliamentary career

Following graduation, Forsyth served as a member of Westminster City Council from 1978 until 1983. He was elected MP for Stirling during the 1983 General Election. His first governmental appointment was as Parliamentary Private Secretary to Foreign Secretary Geoffrey Howe from 1986 to 1987. Subsequently, he joined the Scottish Office, acting as Under-Secretary of State between 1987 and 1990 and then Minister of State from 1990 to 1992, where his portfolio included health, education, social work, and sports. Forsyth chaired the Scottish Conservative Party from 1989 to 1990 and earned recognition as Parliamentarian of the Year in 1996.

He undertook ministerial duties at the Department of Employment between 1992 and 1994 and at the Home Office from 1994 to 1995 before his appointment as Secretary of State for Scotland within John Major’s cabinet in 1995. In this role, Forsyth oversaw several key initiatives: facilitating the relocation of the Stone of Scone from Westminster Abbey back to Edinburgh Castle; founding the University of the Highlands; enhancing crofters’ rights to purchase land; promoting Gaelic language initiatives; and commissioning restoration projects at Stirling Castle. Although re-elected with slim margins in both 1987 and 1992, he was defeated in the 1997 general election.

Politics in Scotland

Forsyth stood against empowering the Scottish Parliament with the authority to adjust income tax rates by as much as three pence per pound, a measure he referred to as the "Tartan Tax". His opposition played a role in the Labour Party's choice to divide this matter into a two-part referendum during the 1997 Scottish devolution vote.

From 2009 to 2011, Forsyth was involved in reforming the Conservative Party's structure through the Sanderson Commission and took part in the independent Philips inquiry investigating the 1994 RAF Chinook crash at the Mull of Kintyre.

In 2011, Forsyth voiced criticism of Conservative MSP Murdo Fraser's suggestion to dissolve the Scottish Conservatives in favor of establishing a new centre-right political party, instead supporting rival candidate Ruth Davidson in the leadership contest that followed.

House of Lords

Forsyth was appointed to the Privy Council in 1995, received a knighthood in 1997, and was raised to the peerage as Baron Forsyth of Drumlean, of Drumlean in Stirling on 14 July 1999.

After his ennoblement, he contributed to several significant committees such as the Commission on Strengthening Parliament (1999–2000), the Select Committee examining the Bank of England’s Monetary Policy Committee, and the Joint Committee focused on House of Lords reform. Between 2005 and 2006, he chaired the Conservative Party’s Tax Reform Commission, which was initiated by then Shadow Chancellor George Osborne MP. He served on the House of Lords Economic Affairs Committee from 2007 to 2011, was reappointed in 2015, and assumed its chairmanship following the 2017 election. In 2021, he was chosen as Chairman of the Association of Conservative Peers.

Business career

Following his departure from the House of Commons, Forsyth moved into finance within the City of London. He took on a role as director of Corporate Finance at Robert Fleming. After its acquisition by JPMorgan Chase, he held positions including vice-chairman Investment Banking Europe (1999–2001) and Deputy Chairman of JPMorgan (2002–05).

In 2005, Forsyth joined Evercore Partners International LLP, where he remained until March 2012, leaving as deputy chairman. His business roles have included directorships at NBNK Investments PLC and chairmanship of Hyperion Insurance Group until it merged with RKH Group in 2015. Presently, he serves as Chairman of Secure Trust Bank and sits on the boards of J&J Denholm Ltd and Denholm Logistics Ltd.

Philanthropy and personal life

Married to Susan Clough since 1977, Forsyth is a father of three. He established the Pimlico Tree and Preservation Trust, now known as Westminster Tree Trust. A passionate mountaineer, he climbed Mount Vinson in Antarctica in 2010 to raise funds for CINI and Marie Curie Cancer Care, having previously reached summits on Mount Aconcagua and Mount Kilimanjaro.

His fundraising achievements include generating £220,000 for DebRA through a Mount Kilimanjaro expedition, raising £420,000 for CINI and Marie Curie Cancer Care via Mount Vinson, and securing £500,000 for families affected by 9/11 through a City of London dinner event.