Jardine Matheson Holdings
Encyclopedia
Jardine Matheson Holdings Limited often referred to as Jardines, is a multinational corporation
incorporated in Bermuda
and based in Hong Kong. While listed on the London Stock Exchange
and the Singapore Exchange
, the vast majority of Jardines shares are traded in Singapore. One of the original Hong Kong trading houses or Hongs
, as of December 2010, 41% of the company's profits were still earned in China.
With roots that can be traced back to the opium trade, today, Jardines is a Fortune 500
company that consists of Jardine Pacific, Jardine Motors Group, Jardine Strategic, Dairy Farm, Hongkong Land
, Mandarin Oriental Hotel Group, Jardine Cycle & Carriage and Astra International
. It also owns 30.3% of Jardine Lloyd Thompson Group
and has a minority investment in Rothschilds Continuation Holdings
, the merchant banking house.
and Edinburgh University graduate James Matheson
. With the cessation of Hong Kong
under the 1842 Treaty of Nanking
, the firm set up its headquarters on the island and grew rapidly. Initially trading in opium, tea and cotton, Jardines soon diversified into other areas including insurance, shipping and railways. By the turn of the 19th century, the company had become the largest of the ‘’hongs’’ or foreign trading conglomerates with offices in all the important Chinese cities as well as Yokohama
, Japan.
In the early decades of the 20th century, Jardines built cotton mills, a press packing plant and a brewery in Shanghai
while expanding into Africa, America and Australia. When war came to China in 1937
, the firm suffered heavily both in Hong Kong and in mainland China.
After the 1949 foundation of the People’s Republic of China, trading conditions for foreign companies under the new Communist regime became increasingly difficult.}}
in 1961, the landmark Mandarin Oriental Hotel
opened in Hong Kong in 1963 as the city's first five star hotel.
In 1970, Jardine Fleming, the first merchant bank in Asia, opened for business while a real estate company and sugar plantations in Hawaii
and the Philippines
were acquired. A Hong Kong building boom in the mid 1970's saw Jardine's buy Gammon Construction
, the largest construction and civil engineering group on the island. A presence was re-established on the mainland in 1979 following China's reform and opening up
and a year later the firm established the Beijing Air Catering Company Ltd., the first foreign joint venture in the country. During the 1970s Jardines also expanded their insurance interests with acquisitions in the United Kingdom and the United States laying the groundwork for the foundation of Jardine Insurance Brokers.
By 1980 the firm had operations in southern Africa, Australia, China, Great Britain, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Saudi Arabia, Singapore, South Korea, Taiwan, Thailand, as well as the United States, and employed 37,000 people. After redomiciling to Bermuda
in 1984 ahead of the 1997 handover of Hong Kong, in 1990 Jardine Matheson Holdings and four other listed group companies arranged primary share listings on the London Stock Exchange
in addition to their Hong Kong listings. Other significant developments during this decade included the merging of Jardine Insurance Brokers with Lloyd Thompson to form Jardine Lloyd Thompson, the acquisition of a 16% interest in Singapore blue-chip Cycle & Carriage and Dairy Farm’s purchase of a significant stake in Indonesia's leading supermarket group Hero. Mandarin Oriental also embarked on its strategy to double its available rooms and capitalize on its brand.
The first decade of the new millennium saw Jardine Cycle & Carriage acquire an initial 31% stake in Astra International, which has since been increased to just over 50% and a 20% shareholding in Rothschilds Continuation Holdings, which rekindled a relationship that began in 1838. Hongkong Land became a Group subsidiary for the first time following a multi-year programme of steady open market purchases while Jardine Pacific raised its interest in Hong Kong Air Cargo Terminals Limited from 25% to 42%.
Jardines today comprises a group of companies with extensive operations across Asia, and through some of its businesses, the world. The firm’s business interests include Jardine Pacific, Jardine Motors, Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage, through which its interest in Astra is held, and Jardine Lloyd Thompson. The Group also has strategic interests in other entities, among them a 20% stake in global financial adviser, Rothschilds Continuation Holdings.
Subsidiary Zung Fu, which has held the Mercedes-Benz franchise in Hong Kong for over 50 years, has achieved one of the highest market penetrations in the world for the luxury brand and ranks among its top international performers. The group also represents smart and Hyundai passenger cars in Hong Kong. Zung Fu is expanding its presence across the growing market of Southern China where it is actively developing a network of Mercedes-Benz dealerships.
In the United Kingdom, Jardine Motors is one of the country’s largest retail dealership groups with a portfolio of specialist franchises that includes Aston Martin, BMW, Ferrari, Lexus, Mercedes Benz, Porsche and, most recently, McLaren.
. In Singapore, it is helping to create the city’s new Central Business District
with an expanding joint venture portfolio of new developments.
In addition to commercial properties, Hongkong Land also develops residential properties in key cities around the region including Hong Kong, mainland China, Macau and Singapore where its subsidiary MCL Land is a significant property developer.
Jardine Strategic has a 50% shareholding in Hongkong Land.
The Dairy Farm group’s retail operations range from supermarkets, hypermarkets and health and beauty stores to convenience and home furnishings stores, and operate under well-known local brands. It has a significant presence in Hong Kong, Taiwan, Malaysia, Singapore and Indonesia, and a growing presence in mainland China, India and Vietnam.
Dairy Farm operates supermarkets under the banners of Wellcome, Jasons, Shop N Save, Cold Storage and Hero; Giant hypermarkets; health and beauty stores under Mannings and Guardian; IKEA furniture stores in Hong Kong and Taiwan; as well as 7-Eleven convenience stores. The group also has a 50% interest in Maxim’s, Hong Kong’s leading restaurant chain.
Jardine Strategic has a 78% shareholding in Dairy Farm.
Jardines has been in the insurance broking business since its earliest days in Canton and JLT, which is quoted on the London Stock Exchange, is one of the largest companies of its kind in the world. The company operates through two key business groups, Risk & Insurance and Employee Benefits.
The risk & insurance group provides specialist insurance and reinsurance broking together with risk management services for a wide range of clients, including some of the world’s largest corporations. JLT, which has a significant presence in the Asia-Pacific region, operates through an international network of over 100 offices in 36 countries. The employee benefits group is one of the United Kingdom’s leading employee benefits providers.
Jardine Strategic has a 74% shareholding in Mandarin Oriental.
JC&C has an interest of just over 50% in Astra, a listed Indonesian conglomerate and the largest independent automotive group in Southeast Asia, as well as other motor interests in the region. Together with its subsidiaries and associates, Jardine Cycle & Carriage employs some 137,000 people across Indonesia, Malaysia, Singapore and Vietnam.
Jardine Cycle & Carriage operates in Singapore and Malaysia under the Cycle & Carriage banner and the group represents some of the world’s best-known motoring marques including Mercedes-Benz, Toyota, Honda and Kia.
Jardine Strategic has a 70% shareholding in Jardine Cycle & Carriage.
In addition, Astra has interests in financial services; heavy equipment, mining and energy; agribusiness; information technology; infrastructure and logistics. In financial services, Astra’s businesses provide financial products and services to support its automotive and heavy equipment sales. The group is also involved in retail banking through a stake in PT Bank Permata Tbk.
from 1970 (aged 31) to 1975 and the 6th Keswick to be Tai-pan of the company. His brother, Simon, was the company's Tai-pan from 1983 to 1988 and is the 7th Keswick to be Tai-pan. Both brothers are the 4th generation of Keswicks in the company. The 5th generation of Keswicks are also active within the organisation, Ben Keswick, son of Simon, is group managing director of Jardine, Cycle & Carriage in Singapore and Adam Keswick, son of Sir Chips Keswick
is in charge of Jardine Pacific and Jardine Motors Group in Hong Kong. The organizational structure of Jardines has changed almost totally, but the members of the family of Dr. William Jardine still have significant influence in the firm.
Company secretary: John C. Lang
, who are direct descendants of William Jardine's sister Jean through the marriage of her daughter to Thomas Keswick, father of William Keswick, an early Tai-pan
of the firm. While the leadership of Jardines is Scottish, the firm is international in its dealings. The staff of Jardines (239,000 employees as of January 2007) is predominantly Asian, with senior management levels composed of a mixture of British, Chinese, Indonesians, Europeans, Australians and Americans.
The Keswicks have maintained a relationship with another prominent Scottish family, the Flemings, of which the author Ian Fleming
was also a member. From 1970 until 1998, Jardine Matheson operated a pan-Asian investment banking joint venture, Jardine Fleming
, with Robert Fleming & Co.
, a London merchant bank controlled by the Fleming family. In 2000, Jardine Fleming and Robert Fleming & Co. were sold to JP Morgan Chase.
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
incorporated in Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
and based in Hong Kong. While listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and the Singapore Exchange
Singapore Exchange
Singapore Exchange Limited is an investment holding company located in Singapore and providing different services related to securities and derivatives trading and others. SGX is a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges FederationSingapore Exchange...
, the vast majority of Jardines shares are traded in Singapore. One of the original Hong Kong trading houses or Hongs
The Hongs
The Hongs were major business houses in Canton and later Hong Kong with significant influence on patterns of consumerism, trade, manufacturing and other key areas of the economy...
, as of December 2010, 41% of the company's profits were still earned in China.
With roots that can be traced back to the opium trade, today, Jardines is a Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
company that consists of Jardine Pacific, Jardine Motors Group, Jardine Strategic, Dairy Farm, Hongkong Land
Hongkong Land
Hongkong Land is one of Asia’s leading property investment, management and development groups with premium commercial and residential property interests across the region. It owns and manages some five million square feet of commercial space in Hong Kong’s Central Business District serving...
, Mandarin Oriental Hotel Group, Jardine Cycle & Carriage and Astra International
Astra International
Astra International was founded in 1957, based on a small trading business operated by brothers Tjia Kian Tie and William Soeryadjaya. The family had begun its trading activities by the 1940s, initially operated as a distributor of fruit juices and other agricultural and grocery goods, before...
. It also owns 30.3% of Jardine Lloyd Thompson Group
Jardine Lloyd Thompson Group
Jardine Lloyd Thompson Group is a leading British-based insurance and re-insurance business. It is a constituent of the FTSE 250 Index.-History:...
and has a minority investment in Rothschilds Continuation Holdings
N M Rothschild & Sons
N M Rothschild & Sons is a private investment banking company, belonging to the Rothschild family...
, the merchant banking house.
The early days
The firm of Jardine, Matheson and Co. began in Canton, China on 1 July 1832 by Scottish doctor William JardineWilliam Jardine
William Jardine may refer to:* William Jardine , Scottish surgeon and merchant, one of the founders of Jardine, Matheson & Co.* Sir William Jardine, 7th Baronet , Scottish naturalist...
and Edinburgh University graduate James Matheson
James Matheson
Sir James Nicolas Sutherland Matheson, 1st Baronet , born in Shiness, Lairg, Sutherland, Scotland, was the son of Captain Donald Matheson, a Scottish trader in India...
. With the cessation of Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
under the 1842 Treaty of Nanking
Treaty of Nanking
The Treaty of Nanking was signed on 29 August 1842 to mark the end of the First Opium War between the United Kingdom of Great Britain and Ireland and the Qing Dynasty of China...
, the firm set up its headquarters on the island and grew rapidly. Initially trading in opium, tea and cotton, Jardines soon diversified into other areas including insurance, shipping and railways. By the turn of the 19th century, the company had become the largest of the ‘’hongs’’ or foreign trading conglomerates with offices in all the important Chinese cities as well as Yokohama
Yokohama
is the capital city of Kanagawa Prefecture and the second largest city in Japan by population after Tokyo and most populous municipality of Japan. It lies on Tokyo Bay, south of Tokyo, in the Kantō region of the main island of Honshu...
, Japan.
In the early decades of the 20th century, Jardines built cotton mills, a press packing plant and a brewery in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
while expanding into Africa, America and Australia. When war came to China in 1937
Second Sino-Japanese War
The Second Sino-Japanese War was a military conflict fought primarily between the Republic of China and the Empire of Japan. From 1937 to 1941, China fought Japan with some economic help from Germany , the Soviet Union and the United States...
, the firm suffered heavily both in Hong Kong and in mainland China.
After the 1949 foundation of the People’s Republic of China, trading conditions for foreign companies under the new Communist regime became increasingly difficult.}}
Post Second World war restructuring and expansion
After the firm's flotationInitial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
in 1961, the landmark Mandarin Oriental Hotel
Mandarin Oriental, Hong Kong
Mandarin Oriental, Hong Kong is a five-star hotel, located on Connaught Road in Central, Hong Kong, owned and managed by Mandarin Oriental Hotel Group. The hotel opened its doors in 1963 as “The Mandarin”, and quickly drew recognition for its service and elegance...
opened in Hong Kong in 1963 as the city's first five star hotel.
In 1970, Jardine Fleming, the first merchant bank in Asia, opened for business while a real estate company and sugar plantations in Hawaii
Hawaii
Hawaii is the newest of the 50 U.S. states , and is the only U.S. state made up entirely of islands. It is the northernmost island group in Polynesia, occupying most of an archipelago in the central Pacific Ocean, southwest of the continental United States, southeast of Japan, and northeast of...
and the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
were acquired. A Hong Kong building boom in the mid 1970's saw Jardine's buy Gammon Construction
Gammon Construction
Gammon Construction Limited is a leading construction contractors headquartered in Hong Kong. In addition to local construction projects, it also actively participating in various projects in China and Southeast Asia.-History:...
, the largest construction and civil engineering group on the island. A presence was re-established on the mainland in 1979 following China's reform and opening up
Chinese economic reform
The Chinese economic reform refers to the program of economic reforms called "Socialism with Chinese characteristics" in the People's Republic of China that were started in December 1978 by reformists within the Communist Party of China led by Deng Xiaoping.China had one of the world's largest...
and a year later the firm established the Beijing Air Catering Company Ltd., the first foreign joint venture in the country. During the 1970s Jardines also expanded their insurance interests with acquisitions in the United Kingdom and the United States laying the groundwork for the foundation of Jardine Insurance Brokers.
By 1980 the firm had operations in southern Africa, Australia, China, Great Britain, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Saudi Arabia, Singapore, South Korea, Taiwan, Thailand, as well as the United States, and employed 37,000 people. After redomiciling to Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
in 1984 ahead of the 1997 handover of Hong Kong, in 1990 Jardine Matheson Holdings and four other listed group companies arranged primary share listings on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
in addition to their Hong Kong listings. Other significant developments during this decade included the merging of Jardine Insurance Brokers with Lloyd Thompson to form Jardine Lloyd Thompson, the acquisition of a 16% interest in Singapore blue-chip Cycle & Carriage and Dairy Farm’s purchase of a significant stake in Indonesia's leading supermarket group Hero. Mandarin Oriental also embarked on its strategy to double its available rooms and capitalize on its brand.
The first decade of the new millennium saw Jardine Cycle & Carriage acquire an initial 31% stake in Astra International, which has since been increased to just over 50% and a 20% shareholding in Rothschilds Continuation Holdings, which rekindled a relationship that began in 1838. Hongkong Land became a Group subsidiary for the first time following a multi-year programme of steady open market purchases while Jardine Pacific raised its interest in Hong Kong Air Cargo Terminals Limited from 25% to 42%.
Current operations
Jardine Pacific
Jardine Pacific is a holding company which represents a significant number of the Group’s non-listed interests in Asia, principally in engineering and construction, transport services, restaurants and IT services. These include a number of Jardines’ long-standing businesses such as Jardine Engineering Corporation (JEC), Jardine Shipping Services, Jardine Aviation Services, Hong Kong Air Cargo Terminals, Jardine Schindler and Gammon Construction as well as more contemporary interests that reflect the demands of Asian consumers; among them Pizza Hut restaurants in Hong Kong, Taiwan and Vietnam and Jardine OneSolution IT services.Jardine Motors
Jardine Motors is active in the sales and service of motor vehicles in Hong Kong, mainland China and the United Kingdom.Subsidiary Zung Fu, which has held the Mercedes-Benz franchise in Hong Kong for over 50 years, has achieved one of the highest market penetrations in the world for the luxury brand and ranks among its top international performers. The group also represents smart and Hyundai passenger cars in Hong Kong. Zung Fu is expanding its presence across the growing market of Southern China where it is actively developing a network of Mercedes-Benz dealerships.
In the United Kingdom, Jardine Motors is one of the country’s largest retail dealership groups with a portfolio of specialist franchises that includes Aston Martin, BMW, Ferrari, Lexus, Mercedes Benz, Porsche and, most recently, McLaren.
Hongkong Land
Hongkong Land is an Asian property investment, management and development group. Established in Hong Kong in 1889 by Sir Paul Chater and William Keswick, the group today has property interests across the region. In Hong Kong, the group owns and manages approximately 5000000 square feet (464,515.2 m²) of prime commercial space in the CentralCentral, Hong Kong
Central is the central business district of Hong Kong. It is located in Central and Western District, on the north shore of Hong Kong Island, across Victoria Harbour from Tsim Sha Tsui, the southernmost point of Kowloon Peninsula...
. In Singapore, it is helping to create the city’s new Central Business District
Central Area
In Singapore, the Central Area or Central Business District contains the core financial and commercial districts, including eleven urban planning areas, namely Downtown Core, Marina East, Marina South, Museum, Newton, Orchard, Outram, River Valley, Rochor, Singapore River and Straits View as...
with an expanding joint venture portfolio of new developments.
In addition to commercial properties, Hongkong Land also develops residential properties in key cities around the region including Hong Kong, mainland China, Macau and Singapore where its subsidiary MCL Land is a significant property developer.
Jardine Strategic has a 50% shareholding in Hongkong Land.
Dairy Farm
Dairy Farm traces its origins in Hong Kong back to the 19th century when it was involved in the production of dairy products and ice. Today the company is a leading pan-Asian retailer.The Dairy Farm group’s retail operations range from supermarkets, hypermarkets and health and beauty stores to convenience and home furnishings stores, and operate under well-known local brands. It has a significant presence in Hong Kong, Taiwan, Malaysia, Singapore and Indonesia, and a growing presence in mainland China, India and Vietnam.
Dairy Farm operates supermarkets under the banners of Wellcome, Jasons, Shop N Save, Cold Storage and Hero; Giant hypermarkets; health and beauty stores under Mannings and Guardian; IKEA furniture stores in Hong Kong and Taiwan; as well as 7-Eleven convenience stores. The group also has a 50% interest in Maxim’s, Hong Kong’s leading restaurant chain.
Jardine Strategic has a 78% shareholding in Dairy Farm.
Jardine Lloyd Thompson
Jardine Lloyd Thompson (JLT) is a leading insurance and reinsurance broker, risk management adviser and employee benefits consultant.Jardines has been in the insurance broking business since its earliest days in Canton and JLT, which is quoted on the London Stock Exchange, is one of the largest companies of its kind in the world. The company operates through two key business groups, Risk & Insurance and Employee Benefits.
The risk & insurance group provides specialist insurance and reinsurance broking together with risk management services for a wide range of clients, including some of the world’s largest corporations. JLT, which has a significant presence in the Asia-Pacific region, operates through an international network of over 100 offices in 36 countries. The employee benefits group is one of the United Kingdom’s leading employee benefits providers.
Mandarin Oriental
Mandarin Oriental Hotel Group is an international hotel investment and management company operating deluxe and first class hotels and residences in city and resort destinations around the world. The group’s flagship hotel, Mandarin Oriental, Hong Kong, has been recognized as one of the world’s leading hotels since shortly after its opening in 1963 along with the equally world-renowned Mandarin Oriental, Bangkok, previously known as The Oriental.Jardine Strategic has a 74% shareholding in Mandarin Oriental.
Jardine Cycle & Carriage
Jardine Cycle & Carriage (JC&C) is an established Singapore-listed company where, as Cycle & Carriage, it has had a presence since 1926.JC&C has an interest of just over 50% in Astra, a listed Indonesian conglomerate and the largest independent automotive group in Southeast Asia, as well as other motor interests in the region. Together with its subsidiaries and associates, Jardine Cycle & Carriage employs some 137,000 people across Indonesia, Malaysia, Singapore and Vietnam.
Jardine Cycle & Carriage operates in Singapore and Malaysia under the Cycle & Carriage banner and the group represents some of the world’s best-known motoring marques including Mercedes-Benz, Toyota, Honda and Kia.
Jardine Strategic has a 70% shareholding in Jardine Cycle & Carriage.
Astra International
Astra is Southeast Asia’s largest independent automotive group. Operating predominantly in Indonesia, it is a provider of a full range of automobile and motorcycle products in partnerships with companies which include Toyota, Daihatsu, Isuzu, Nissan Diesel, Peugeot and BMW for automobiles, and Honda for motorcycles. Astra also has a strong presence in the automotive component sector through its subsidiary PT Astra Otoparts Tbk.In addition, Astra has interests in financial services; heavy equipment, mining and energy; agribusiness; information technology; infrastructure and logistics. In financial services, Astra’s businesses provide financial products and services to support its automotive and heavy equipment sales. The group is also involved in retail banking through a stake in PT Bank Permata Tbk.
Corporate structure
The present Chairmain of Jardine Matheson Holdings Ltd. is Henry Keswick, the company's Tai-panTai-Pan
The term tai-pan was originally used to describe a foreign businessman in China or Hong Kong in the nineteenth and early twentieth centuries. The Cantonese colloquialism is now used in a more general sense for business executives of any origin...
from 1970 (aged 31) to 1975 and the 6th Keswick to be Tai-pan of the company. His brother, Simon, was the company's Tai-pan from 1983 to 1988 and is the 7th Keswick to be Tai-pan. Both brothers are the 4th generation of Keswicks in the company. The 5th generation of Keswicks are also active within the organisation, Ben Keswick, son of Simon, is group managing director of Jardine, Cycle & Carriage in Singapore and Adam Keswick, son of Sir Chips Keswick
Chips Keswick
Sir John Chippendale "Chips" Lindley Keswick is a British businessman and a member of the Keswick family which control Hong Kong company Jardine Matheson, founded by William Jardine.-Career:...
is in charge of Jardine Pacific and Jardine Motors Group in Hong Kong. The organizational structure of Jardines has changed almost totally, but the members of the family of Dr. William Jardine still have significant influence in the firm.
Current directors
As of June 2011, the directors of Jardine Matheson Holdings are:- Sir Henry KeswickHenry KeswickSir Henry Neville Lindley Keswick is a Scottish businessman. He was educated at Eton College and Trinity College, Cambridge.Henry married Tessa, Lady Reay, younger daughter of the late Simon Fraser, 15th Lord Lovat in 1985...
, chairman - Anthony Nightingale, managing director
- Mark Greenberg, group strategy director
- Jenkin Hui
- Adam Keswick, chief executive of Jardine Pacific and of Jardine Motors
- Ben Keswick, group managing director of Jardine, Cycle & Carriage
- Simon KeswickSimon KeswickSimon Lindley Keswick is a Scottish businessman and the younger brother of Sir Chips Keswick and Sir Henry Keswick.He is a director of Matheson & Co Ltd , Fleming Mercantile Investment Trust, Hanson plc, Jardine Lloyd Thompson Group plc. and the Mandarin Oriental Hotel Group...
- Dr. Richard Lee
- Lord Leach of Fairford
- Y.K. Pang
- James Riley
- Percy WeatherallPercy WeatherallPercy Weatherall or Edward Percy Keswick Weatherall, is a prominent British businessman formerly active in Hong Kong. He was Managing Director of the Jardine Matheson Group from 2000 to 31 March 2006 having joined the board in 1999.Mr...
- Giles White
Company secretary: John C. Lang
Scottish leadership
Jardines is controlled by the Keswick familyKeswick family
The Keswick family are a business dynasty of Scottish origin associated with the Far East since 1855 and in particular the conglomerate Jardine Matheson....
, who are direct descendants of William Jardine's sister Jean through the marriage of her daughter to Thomas Keswick, father of William Keswick, an early Tai-pan
Tai-Pan
The term tai-pan was originally used to describe a foreign businessman in China or Hong Kong in the nineteenth and early twentieth centuries. The Cantonese colloquialism is now used in a more general sense for business executives of any origin...
of the firm. While the leadership of Jardines is Scottish, the firm is international in its dealings. The staff of Jardines (239,000 employees as of January 2007) is predominantly Asian, with senior management levels composed of a mixture of British, Chinese, Indonesians, Europeans, Australians and Americans.
The Keswicks have maintained a relationship with another prominent Scottish family, the Flemings, of which the author Ian Fleming
Ian Fleming
Ian Lancaster Fleming was a British author, journalist and Naval Intelligence Officer.Fleming is best known for creating the fictional British spy James Bond and for a series of twelve novels and nine short stories about the character, one of the biggest-selling series of fictional books of...
was also a member. From 1970 until 1998, Jardine Matheson operated a pan-Asian investment banking joint venture, Jardine Fleming
Jardine Fleming
Jardine Fleming was a Hong Kong based investment bank founded in 1970 as a joint venture between Jardine Matheson and Robert Fleming & Co. At the time of its sale to JP Morgan Chase in 2000, it operated in 15 countries....
, with Robert Fleming & Co.
Robert Fleming & Co.
Robert Fleming & Co. was an asset manager and merchant bank founded in Dundee, Scotland, in 1873. In 1909 the firm moved its headquarters to London. It was sold to Chase Manhattan Bank for over $7 billion in 2000....
, a London merchant bank controlled by the Fleming family. In 2000, Jardine Fleming and Robert Fleming & Co. were sold to JP Morgan Chase.
Influence
- Jardines' history was the inspiration for a series of novels written by James ClavellJames ClavellJames Clavell, born Charles Edmund DuMaresq Clavell was an Australian-born, British novelist, screenwriter, director and World War II veteran and prisoner of war...
, including Tai-PanTai-Pan (novel)Tai-Pan is a novel written by James Clavell about European and American traders who move into Hong Kong in 1842 following the end of the First Opium War. It is the second book in Clavell's "Asian Saga".-Plot summary:...
, Gai-JinGai-Jin (novel)Gai-Jin is a 1993 novel by James Clavell, chronologically the third book in his Asian Saga, although it was the last to be published. Taking place about 20 years after the events of Tai-Pan, it chronicles the adventures of Malcolm Struan, the son of Culum and Tess Struan, in Japan...
, and Noble HouseNoble HouseNoble House is a novel by James Clavell, published in 1981 and set in Hong Kong in 1963.It is a massive book, well over 1000 pages, with dozens of characters and numerous intermingling plot lines. In 1988, it was adapted as a television miniseries for NBC starring Pierce Brosnan...
. The Noble HouseNoble House (TV miniseries)Noble House was an American television miniseries that was produced and broadcast by NBC in 1988. Based upon the novel Noble House by James Clavell, it featured a large cast headlined by Pierce Brosnan as business tycoon Ian Dunross and was directed by Gary Nelson...
TV miniseries actually used Jardine as the headquarters of Struan's & Co, the fictional company depicted in Clavell's novels. In Taipan, Dirk Struan is loosely based on William Jardine while Robb Struan is loosely based on James Matheson. - Jardines installed the first elevator in China in the northern city of TianjinTianjin' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...
. - Mail sent to Jardines requires no address—just the name is enough to ensure its delivery.
- Jardines' have a strict policy of not buying/investing in new companies as it is said to be against William Jardine's wishes.
- Several landmarks in present day Hong Kong are named after the firm and its founders. The name of Yee Wo StreetYee Wo StreetYee Wo Street is a street in East Point and Causeway Bay, Hong Kong Island, Hong Kong. Its junction with Hennessy Road is one of the busiest junctions in Hong Kong.-Name:...
in Hong Kong's East PointEast Point, Hong KongEast Point was a cape on the northern shore of Hong Kong Island, Hong Kong. It was a pointed headland that extended from Jardine's Hill, i.e. Lee Garden towards the Kellett Island. It marked the eastern limits of the early City of Victoria. The piece of land separated Causeway Bay in the east and...
and Causeway BayCauseway BayCauseway Bay is a heavily built-up area of Hong Kong, People's Republic of China, located on the Hong Kong Island, and covering parts of Wan Chai and Eastern districts. The Chinese name is also romanized as Tung Lo Wan as in Tung Lo Wan Road...
Districts comes from Jardine's Chinese name "Ewo" whilst other locations associated with the company include Jardine's BazaarJardine's BazaarJardine's Bazaar is a road located in Causeway Bay, Hong Kong. The road was named after William Jardine, when Jardine Matheson acquired the land in the area. The road ends at the junction of Hennessy Road, Yee Wo Street, Jardine's Crescent and Lockhart Road...
, Jardine's Crescent, Jardine's Bridge, Jardine's LookoutJardine's LookoutJardine's Lookout is a mountain and a residential area on the Hong Kong Island in Hong Kong. It is located Southeast of the Wan Chai district and South of the Tai Hang area, at an altitude of about 433 metres. Nearby hills include Mount Nicholson, Violet Hill and Mount Butler etc.It is named after...
, Yee Wo StreetYee Wo StreetYee Wo Street is a street in East Point and Causeway Bay, Hong Kong Island, Hong Kong. Its junction with Hennessy Road is one of the busiest junctions in Hong Kong.-Name:...
, Matheson Street, Jardine HouseJardine HouseJardine House , formerly known as Connaught Centre , is an office tower in Hong Kong. The building is located at 1 Connaught Place, Central on the Hong Kong Island. It is owned by Hongkong Land Limited, a subsidiary of Jardines. At the time of its completion in 1972, Jardine House was the tallest...
and the Noon-day GunNoon-day GunThe Noonday Gun is a former naval artillery mounted on a small enclosed site near the Causeway Bay Typhoon Shelter on Hong Kong Island, Hong Kong. Owned and operated by Jardine Matheson, the gun is fired every day at noon and is a tourist attraction....
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Further reading
- Alain Le Pichon, China Trade and Empire : Jardine, Matheson & Co. And the Origins of British Rule in Hong Kong, 1827-1843 (Oxford ; New York: Published for The British Academy by Oxford University Press, 2006).