Richard Hambro

Richard Hambro
Born	(1946-10-01) 1 October 1946 United Kingdom
Died	25 April 2009(2009-04-25) (aged 62)
Occupation(s)	Investment banker, horse breeder, philanthropist
Known for	President of Hambro America; co-founder of J.O. Hambro Capital Management; chairman of Macmillan Cancer Support; chairman of Newmarket Racecourse

Richard Alexander Hambro (1 October 1946 – 25 April 2009) was a British investment banker, horse breeder, philanthropist, and heir.

Early life

Richard Hambro was born on 1 October 1946 to Jocelyn Hambro, who chaired Hambros Bank between 1965 and 1972, and Ann Silvia Muir. The bank itself was established by his great-grandfather, Carl Joachim Hambro, following his migration from Denmark. Richard received his education at Eton College before completing his studies at the University of Munich.

Career

Hambro’s professional journey started in South Africa and Italy. He later served as president of Hambro America in the United States from 1976 until 1982. In 1986, he played a key role in divesting the family’s shares in Hambros Bank, which was eventually purchased by Société Générale in 1998 for approximately £300 million.

Together with his father and brothers, he co-founded J.O. Hambro Capital Management in 1986 and launched J.O. Hambro Investment Management, which was acquired by Credit Suisse in 2000 for USD $124 million. At the time of sale, the firm managed £1.5 billion in assets across a client base of 650. Hambro maintained the position of chairman until his passing; today, the company operates as Waverton Investment Management under Somers Limited.

He owned Wiltons, a seafood restaurant located on Jermyn Street that remains family-owned, as well as Franco's. He also founded Money Portal, a financial advisory company he chaired from 2003 to 2009. From 1987 until his death, he served as chairman of I. Hennig & Co., the diamond broker for De Beers.

In 1974, Hambro sought election to Parliament for Rotherham but was defeated by Labour’s Brian O'Malley.

Philanthropy

From 1983 to 1991, Hambro acted as treasurer of Macmillan Cancer Support, subsequently chairing its board of trustees from 1991 to 2001. Under his leadership, the charity’s annual revenue increased dramatically from £3.5 million to more than £80 million. The Richard Hambro Award commemorates his contributions. He also served as trustee for Colon Cancer Concern, Bowel Cancer UK, the London Clinic, and the Institute of Cancer Research.

In 1995, he chaired the South African National Business Initiative, which later became known simply as the National Business Initiative. His philanthropic efforts extended to contributions towards St Paul's Cathedral and participation on the board of the Garden Museum.

Equestrianism

Hambro held steward positions at both Sandown Park Racecourse and Ascot Racecourse and was admitted as a member of the Jockey Club in 1997. From 2004 until his death in 2009, he served as chairman of Newmarket Racecourse.

After inheriting the family estate Waverton in Gloucestershire in 1995, he became involved in breeding racehorses such as Presenting and Beechy Bank. Beechy Bank notably achieved victory at Warwick in 2002 at odds of 200-1, marking one of the longest-priced wins in British racing history.

Personal life

Hambro was married three times. His first marriage lasted from 1973 to 1982 with Charlotte Soames, daughter of Christopher Soames, Baron Soames and Mary Soames, Baroness Soames. Their daughter Clementine served as a bridesmaid at the wedding of Prince Charles and Diana in 1981 and married Orlando Fraser in 2006.

From 1984 to 1992, he was wed to Juliet Grana (née Harvey). In 1993, he married Mary, who was also involved in horse breeding.

Death

Hambro passed away on 25 April 2009, at the age of sixty-two.