Michael Forsyth, Baron Forsyth of Drumlean
Encyclopedia
Michael Bruce Forsyth, Baron Forsyth of Drumlean PC
, Kt
(born 16 October 1954) is a British
financier and politician, who was the Member of Parliament
(MP) for Stirling
from 1983 to 1997 and served in the cabinet
of John Major
as Secretary of State for Scotland
from 1995 to 1997. He is Deputy Chairman of Evercore Partners
International, a Director of J&J Denholm and NBNK Investments, and a former Deputy Chairman of JPMorgan UK. He was knighted in 1997 and appointed to the House of Lords
in 1999. He is a member of the Privy Council and the Development Board at the Royal Society.
, in Angus
, Scotland
. He was educated at Arbroath High School and the University of St Andrews
(1972—76). He was President of the Conservative Association at St Andrews University from 1973—76. At St Andrews Forsyth developed a passion for debating, history, science and campaigning.
from 1978—83. He was then elected at the 1983 General Election
as the MP for the Stirling constituency
. His first job in government was as Parliamentary Private Secretary
to the then Foreign Secretary Geoffrey Howe
from 1986—87. In 1987 he was allocated to the Scotland Office
, first as an Under-Secretary of State (1987—90), then as Minister of State (1990—92) with responsibility over health, education, social work and sport. He was also the chair of the Scottish Conservative Party from 1989—1990. In 1996 he was named Parliamentarian of the Year.
After working at the Department of Employment (1992—94), then the Home Office
(1994—95), he became a member of John Major
's cabinet in 1995 as Secretary of State for Scotland
. In 1996, as Scottish Secretary, Forsyth was credited with transferring the Stone of Scone
, also known as the Stone of Destiny, from Westminster Abbey
to (ultimately) Edinburgh Castle
.
In 1992 Forsyth won the backing of his Stirling constituency and was re-elected, despite Conservative losses across the country. Forsyth left government in the United Kingdom general election, 1997
. Altogether he represented Stirling in the House of Commons for 14 years.
having the power to vary the basic rate of income tax by up to three pence in the pound, which he dubbed the "Tartan Tax
". Forsyth's persistence was widely credited with prompting the Labour Party's unexpected decision – bitterly criticised by the Liberal Democrats and the Scottish National Party
– to separate out the tax-varying issue in a two-question referendum on devolution.
In 2009—10 he was a member of the Sanderson Commission that reported on Conservative Party organisation, and in 2010—11 a member of the independent Philips inquiry into the 1994 Scotland RAF Chinook crash on the Mull of Kintyre, established by the Secretary of State for Defence.
In 2011, Forsyth criticized the plans of Conservative MSP Murdo Fraser
to disband the Scottish Conservatives and establish a wholly new centre-right party, should he win the forthcoming leadership election
. Forsyth later declared his backing for a rival candidate, Ruth Davidson
.
as Baron Forsyth of Drumlean (a town near Stirling
) in 1999. Following his elevation to the Lords, he has held a number of positions. He was a member of the Commission on Strengthening Parliament (1999—2000), the Select Committee on the Monetary Policy Committee of the Bank of England, the Joint Committee of both Houses of Parliament on Reform of the House of Lords, and the Select Committee on the Barnett Formula. From October 2005 to October 2006, he was Chairman of the Conservative Party's Tax Reform Commission — established by then Shadow Chancellor of the Exchequer, George Osborne
MP. He is also a member of the Lords Select Committee on Economic Affairs and he is on the Development Board of the Royal Society
.
. He joined Flemings as a director of Corporate Finance and, following the bank's sale to JPMorgan Chase he became Vice-Chairman Investment Banking Europe at JPMorgan (1999—2001) and then Deputy Chairman of JPMorgan (2002—2005). He is now Deputy Chairman of Evercore Partners
International LLP, a leading investment bank. He also holds non-executive directorships at J&J Denholm Ltd, the Centre for Policy Studies and NBNK Investments PLC.
(CINI UK); his wife is the organisation's deputy chairman. Recently, he climbed the highest mountain in Antarctica — Mount Vinson — in support of CINI and Marie Curie Cancer Care having already climbed Mount Aconcagua
and Mount Kilimanjaro
, the highest mountains in the Americas and Africa respectively. His charity fund-raising achievements are substantial and include £220,000 for DebRA
for climbing Mount Kilimanjaro, £420,000 for CINI and Marie Curie Cancer Care for climbing Mount Vinson, and £500,000 to support the families of victims of 9/11 through organising a dinner in the City of London.
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Privy Council of the United Kingdom
Her Majesty's Most Honourable Privy Council, usually known simply as the Privy Council, is a formal body of advisers to the Sovereign in the United Kingdom...
, Kt
Knight Bachelor
The rank of Knight Bachelor is a part of the British honours system. It is the most basic rank of a man who has been knighted by the monarch but not as a member of one of the organised Orders of Chivalry...
(born 16 October 1954) is a British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
financier and politician, who was the Member of Parliament
Member of Parliament
A Member of Parliament is a representative of the voters to a :parliament. In many countries with bicameral parliaments, the term applies specifically to members of the lower house, as upper houses often have a different title, such as senate, and thus also have different titles for its members,...
(MP) for Stirling
Stirling (UK Parliament constituency)
Stirling is a county constituency of the House of Commons of the Parliament of the United Kingdom. It elects one Member of Parliament by the first past the post system of election.-Boundaries:...
from 1983 to 1997 and served in the cabinet
Major Ministry
John Major was the Conservative Prime Minister of the United Kingdom for 6½ years from 28 November 1990 to 2 May 1997. He was first appointed Prime Minister having succeeded Margaret Thatcher as leader of the Conservative Party...
of John Major
John Major
Sir John Major, is a British Conservative politician, who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 1990–1997...
as Secretary of State for Scotland
Secretary of State for Scotland
The Secretary of State for Scotland is the principal minister of Her Majesty's Government in the United Kingdom with responsibilities for Scotland. He heads the Scotland Office , a government department based in London and Edinburgh. The post was created soon after the Union of the Crowns, but was...
from 1995 to 1997. He is Deputy Chairman of Evercore Partners
Evercore Partners
Evercore Partners is an investment bank located in New York City. Evercore also has an investment management business through which the Company manages private equity and venture capital funds for institutional investors...
International, a Director of J&J Denholm and NBNK Investments, and a former Deputy Chairman of JPMorgan UK. He was knighted in 1997 and appointed to the House of Lords
House of Lords
The House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
in 1999. He is a member of the Privy Council and the Development Board at the Royal Society.
Early life
Forsyth was born in MontroseMontrose, Angus
Montrose is a coastal resort town and former royal burgh in Angus, Scotland. It is situated 38 miles north of Dundee between the mouths of the North and South Esk rivers...
, in Angus
Angus
Angus is one of the 32 local government council areas of Scotland, a registration county and a lieutenancy area. The council area borders Aberdeenshire, Perth and Kinross and Dundee City...
, Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
. He was educated at Arbroath High School and the University of St Andrews
University of St Andrews
The University of St Andrews, informally referred to as "St Andrews", is the oldest university in Scotland and the third oldest in the English-speaking world after Oxford and Cambridge. The university is situated in the town of St Andrews, Fife, on the east coast of Scotland. It was founded between...
(1972—76). He was President of the Conservative Association at St Andrews University from 1973—76. At St Andrews Forsyth developed a passion for debating, history, science and campaigning.
Parliamentary career
After leaving university Forsyth was first elected to Westminster City CouncilWestminster City Council
Westminster City Council is the local authority for the City of Westminster in Greater London, England. It is a London borough council and is entitled to be known as a city council, which is a rare distinction in the United Kingdom. The city is divided into 20 wards, each electing three councillors...
from 1978—83. He was then elected at the 1983 General Election
United Kingdom general election, 1983
The 1983 United Kingdom general election was held on 9 June 1983. It gave the Conservative Party under Margaret Thatcher the most decisive election victory since that of Labour in 1945...
as the MP for the Stirling constituency
Stirling (UK Parliament constituency)
Stirling is a county constituency of the House of Commons of the Parliament of the United Kingdom. It elects one Member of Parliament by the first past the post system of election.-Boundaries:...
. His first job in government was as Parliamentary Private Secretary
Parliamentary Private Secretary
A Parliamentary Private Secretary is a role given to a United Kingdom Member of Parliament by a senior minister in government or shadow minister to act as their contact for the House of Commons; this role is junior to that of Parliamentary Under-Secretary, which is a ministerial post, salaried by...
to the then Foreign Secretary Geoffrey Howe
Geoffrey Howe
Richard Edward Geoffrey Howe, Baron Howe of Aberavon, CH, QC, PC is a former British Conservative politician. He was Margaret Thatcher's longest-serving Cabinet minister, successively holding the posts of Chancellor of the Exchequer, Foreign Secretary, and finally Leader of the House of Commons...
from 1986—87. In 1987 he was allocated to the Scotland Office
Scotland Office
The Scotland Office is a United Kingdom government department headed by the Secretary of State for Scotland and responsible for Scottish affairs...
, first as an Under-Secretary of State (1987—90), then as Minister of State (1990—92) with responsibility over health, education, social work and sport. He was also the chair of the Scottish Conservative Party from 1989—1990. In 1996 he was named Parliamentarian of the Year.
After working at the Department of Employment (1992—94), then the Home Office
Home Office
The Home Office is the United Kingdom government department responsible for immigration control, security, and order. As such it is responsible for the police, UK Border Agency, and the Security Service . It is also in charge of government policy on security-related issues such as drugs,...
(1994—95), he became a member of John Major
John Major
Sir John Major, is a British Conservative politician, who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 1990–1997...
's cabinet in 1995 as Secretary of State for Scotland
Secretary of State for Scotland
The Secretary of State for Scotland is the principal minister of Her Majesty's Government in the United Kingdom with responsibilities for Scotland. He heads the Scotland Office , a government department based in London and Edinburgh. The post was created soon after the Union of the Crowns, but was...
. In 1996, as Scottish Secretary, Forsyth was credited with transferring the Stone of Scone
Stone of Scone
The Stone of Scone , also known as the Stone of Destiny and often referred to in England as The Coronation Stone, is an oblong block of red sandstone, used for centuries in the coronation of the monarchs of Scotland and later the monarchs of England, Great Britain and the United Kingdom...
, also known as the Stone of Destiny, from Westminster Abbey
Westminster Abbey
The Collegiate Church of St Peter at Westminster, popularly known as Westminster Abbey, is a large, mainly Gothic church, in the City of Westminster, London, United Kingdom, located just to the west of the Palace of Westminster. It is the traditional place of coronation and burial site for English,...
to (ultimately) Edinburgh Castle
Edinburgh Castle
Edinburgh Castle is a fortress which dominates the skyline of the city of Edinburgh, Scotland, from its position atop the volcanic Castle Rock. Human habitation of the site is dated back as far as the 9th century BC, although the nature of early settlement is unclear...
.
In 1992 Forsyth won the backing of his Stirling constituency and was re-elected, despite Conservative losses across the country. Forsyth left government in the United Kingdom general election, 1997
United Kingdom general election, 1997
The United Kingdom general election, 1997 was held on 1 May 1997, more than five years after the previous election on 9 April 1992, to elect 659 members to the British House of Commons. The Labour Party ended its 18 years in opposition under the leadership of Tony Blair, and won the general...
. Altogether he represented Stirling in the House of Commons for 14 years.
Independence in Scotland
Forsyth campaigned against the Scottish ParliamentScottish Parliament
The Scottish Parliament is the devolved national, unicameral legislature of Scotland, located in the Holyrood area of the capital, Edinburgh. The Parliament, informally referred to as "Holyrood", is a democratically elected body comprising 129 members known as Members of the Scottish Parliament...
having the power to vary the basic rate of income tax by up to three pence in the pound, which he dubbed the "Tartan Tax
Tartan tax
The Scottish Variable Rate is a mechanism which enables the Scottish Government to vary the basic rate of UK income tax by up to 3p in the pound...
". Forsyth's persistence was widely credited with prompting the Labour Party's unexpected decision – bitterly criticised by the Liberal Democrats and the Scottish National Party
Scottish National Party
The Scottish National Party is a social-democratic political party in Scotland which campaigns for Scottish independence from the United Kingdom....
– to separate out the tax-varying issue in a two-question referendum on devolution.
In 2009—10 he was a member of the Sanderson Commission that reported on Conservative Party organisation, and in 2010—11 a member of the independent Philips inquiry into the 1994 Scotland RAF Chinook crash on the Mull of Kintyre, established by the Secretary of State for Defence.
In 2011, Forsyth criticized the plans of Conservative MSP Murdo Fraser
Murdo Fraser
Murdo Fraser is a Scottish politician and the current Deputy leader of the Scottish Conservative Party in the Scottish Parliament. He has been a Member of the Scottish Parliament for the Mid Scotland and Fife region since 2001....
to disband the Scottish Conservatives and establish a wholly new centre-right party, should he win the forthcoming leadership election
Scottish Conservative Party leadership election, 2011
The 2011 Scottish Conservative Party leadership election was an internal party election to elect a new leader of the Scottish Conservative and Unionist Party, the third largest political party in the devolved Scottish Parliament. Ruth Davidson was declared the winner of the contest on November 4,...
. Forsyth later declared his backing for a rival candidate, Ruth Davidson
Ruth Davidson
Ruth Davidson is a politician, former BBC journalist and the current leader of the Scottish Conservative & Unionist Party...
.
House of Lords
Forsyth was nominated to the Privy Council in 1995, was knighted in 1997 and entered the House of LordsHouse of Lords
The House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
as Baron Forsyth of Drumlean (a town near Stirling
Stirling
Stirling is a city and former ancient burgh in Scotland, and is at the heart of the wider Stirling council area. The city is clustered around a large fortress and medieval old-town beside the River Forth...
) in 1999. Following his elevation to the Lords, he has held a number of positions. He was a member of the Commission on Strengthening Parliament (1999—2000), the Select Committee on the Monetary Policy Committee of the Bank of England, the Joint Committee of both Houses of Parliament on Reform of the House of Lords, and the Select Committee on the Barnett Formula. From October 2005 to October 2006, he was Chairman of the Conservative Party's Tax Reform Commission — established by then Shadow Chancellor of the Exchequer, George Osborne
George Osborne
George Gideon Oliver Osborne, MP is a British Conservative politician. He is the Chancellor of the Exchequer of the United Kingdom, a role to which he was appointed in May 2010, and has been the Member of Parliament for Tatton since 2001.Osborne is part of the old Anglo-Irish aristocracy, known in...
MP. He is also a member of the Lords Select Committee on Economic Affairs and he is on the Development Board of the Royal Society
Royal Society
The Royal Society of London for Improving Natural Knowledge, known simply as the Royal Society, is a learned society for science, and is possibly the oldest such society in existence. Founded in November 1660, it was granted a Royal Charter by King Charles II as the "Royal Society of London"...
.
Business Career
After leaving the House of Commons Forsyth has become a prominent figure in the City of LondonCity of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
. He joined Flemings as a director of Corporate Finance and, following the bank's sale to JPMorgan Chase he became Vice-Chairman Investment Banking Europe at JPMorgan (1999—2001) and then Deputy Chairman of JPMorgan (2002—2005). He is now Deputy Chairman of Evercore Partners
Evercore Partners
Evercore Partners is an investment bank located in New York City. Evercore also has an investment management business through which the Company manages private equity and venture capital funds for institutional investors...
International LLP, a leading investment bank. He also holds non-executive directorships at J&J Denholm Ltd, the Centre for Policy Studies and NBNK Investments PLC.
Philanthropy and personal life
Forsyth is married to Susan (1977) and they have three grown-up children. He is the founder of the Pimlico Tree and Preservation Trust, now the Westminster Tree Trust, and is patron of the British branch of Child In Need IndiaChild In Need Institute (CINI)
CINI, known internationally as Child In Need India and in India as the Child In Need Institute, is an international humanitarian organisation aimed at promoting "sustainable development in health, nutrition and education of child, adolescent and woman in need" in India...
(CINI UK); his wife is the organisation's deputy chairman. Recently, he climbed the highest mountain in Antarctica — Mount Vinson — in support of CINI and Marie Curie Cancer Care having already climbed Mount Aconcagua
Aconcagua
Aconcagua is the highest mountain in the Americas at . It is located in the Andes mountain range, in the Argentine province of Mendoza and it lies west by north of its capital, the city of Mendoza. The summit is also located about 5 kilometres from San Juan Province and 15 kilometres from the...
and Mount Kilimanjaro
Mount Kilimanjaro
Kilimanjaro, with its three volcanic cones, Kibo, Mawenzi, and Shira, is a dormant volcano in Kilimanjaro National Park, Tanzania and the highest mountain in Africa at above sea level .-Geology:...
, the highest mountains in the Americas and Africa respectively. His charity fund-raising achievements are substantial and include £220,000 for DebRA
DEBRA
DebRA U.K. is a British medical research charity dedicated to the curing of Epidermolysis bullosa. Epidermolysis bullosa is a genetic condition that in its most severe forms affects all of the body's linings, the skin, the linings of the mouth and oesophagus, etc - even the eyes...
for climbing Mount Kilimanjaro, £420,000 for CINI and Marie Curie Cancer Care for climbing Mount Vinson, and £500,000 to support the families of victims of 9/11 through organising a dinner in the City of London.
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