Sir Ernest Joseph Cassel, (3 March 1852 – 21 September 1921) was a British

merchant banker A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodi ...

and capitalist. Born and raised in

Prussia Prussia, , Old Prussian: ''Prūsa'' or ''Prūsija'' was a German state on the southeast coast of the Baltic Sea. It formed the German Empire under Prussian rule when it united the German states in 1871. It was ''de facto'' dissolved by an em ...

, he moved to England at the age of 17.

Life and career

Cassel was born in

Cologne Cologne ( ; german: Köln ; ksh, Kölle ) is the largest city of the German western States of Germany, state of North Rhine-Westphalia (NRW) and the List of cities in Germany by population, fourth-most populous city of Germany with 1.1 m ...

, in the

Rhine Province The Rhine Province (german: Rheinprovinz), also known as Rhenish Prussia () or synonymous with the Rhineland (), was the westernmost province of the Kingdom of Prussia and the Free State of Prussia, within the German Reich, from 1822 to 1946. It ...

of the

Kingdom of Prussia The Kingdom of Prussia (german: Königreich Preußen, ) was a German kingdom that constituted the state of Prussia between 1701 and 1918.Marriott, J. A. R., and Charles Grant Robertson. ''The Evolution of Prussia, the Making of an Empire''. Re ...

(now part of

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

), the son of Amalia (née Rosenheim) and Jacob Cassel. His family were

Ashkenazi Jews Ashkenazi Jews ( ; he, יְהוּדֵי אַשְׁכְּנַז, translit=Yehudei Ashkenaz, ; yi, אַשכּנזישע ייִדן, Ashkenazishe Yidn), also known as Ashkenazic Jews or ''Ashkenazim'',, Ashkenazi Hebrew pronunciation: , singu ...

. His father owned a small bank, but the son Ernest arrived penniless in

Liverpool Liverpool is a city and metropolitan borough in Merseyside, England. With a population of in 2019, it is the 10th largest English district by population and its metropolitan area is the fifth largest in the United Kingdom, with a popul ...

, England in 1869. There he found employment with a firm of grain merchants. With an enormous capacity for hard work and a strong business sense, Cassel was soon in Paris working for a bank. Being of Prussian origin, the Franco-Prussian War forced him to move to a position in a London bank. He prospered and was soon putting together his own financial deals. His areas of interest were in mining, infrastructure and heavy industry. Turkey was an early area of business ventures, but he soon had large interests in Sweden, the United States, South America, South Africa, and Egypt. He was among the financiers of the

Aswan Dam The Aswan Dam, or more specifically since the 1960s, the Aswan High Dam, is one of the world's largest embankment dams, which was built across the Nile in Aswan, Egypt, between 1960 and 1970. Its significance largely eclipsed the previous Aswan L ...

built in Egypt between 1899 and 1902, and was present in Egypt for the opening of the dam in December 1902. At the behest of the French and British governments, he reluctantly took on the establishment of the State Bank of Morocco, provided for in the terms of the 1906

Treaty of Algeciras The Algeciras Conference of 1906 took place in Algeciras, Spain, and lasted from 16 January to 7 April. The purpose of the conference was to find a solution to the First Moroccan Crisis of 1905 between France and Germany, which arose as Germany ...

. In 1912 his close German friend

Albert Ballin Albert Ballin (15 August 1857 – 9 November 1918) was a German shipping magnate. He was the general director of the Hamburg-Amerikanische Packetfahrt-Actien-Gesellschaft (HAPAG) or Hamburg-America Line, which for a time was the world's largest s ...

feared that the naval rivalry between Britain and Germany was getting out of hand and even threatened war. They approach their respective governments, who agreed to negotiate a compromise that would end the race through the

Haldane Mission The Haldane Mission of February 1912 was an unsuccessful effort to seek détente with Germany and reduce dangerous friction between Britain and Germany arising because of their escalating naval arms race. The mission by British diplomat Richard H ...

of 1912. Unfortunately, it proved a failure. One of the wealthiest men of his day, Cassel was a good friend of

King Edward VII Edward VII (Albert Edward; 9 November 1841 – 6 May 1910) was King of the United Kingdom of Great Britain and Ireland and Emperor of India, from 22 January 1901 until his death in 1910. The second child and eldest son of Queen Victoria a ...

(enough so that he was nicknamed "Windsor Cassel"), prime minister

H. H. Asquith Herbert Henry Asquith, 1st Earl of Oxford and Asquith, (12 September 1852 – 15 February 1928), generally known as H. H. Asquith, was a British statesman and Liberal Party politician who served as Prime Minister of the United Kingdom f ...

and

Winston Churchill Sir Winston Leonard Spencer Churchill (30 November 187424 January 1965) was a British statesman, soldier, and writer who served as Prime Minister of the United Kingdom twice, from 1940 to 1945 Winston Churchill in the Second World War, dur ...

. As a foreign-born ''arriviste'' of Jewish background, he was less than popular with elements of the British upper crust.

Retirement

Cassel retired from business in 1910. His philanthropic benefactions included £500,000 for educational purposes, £225,000 for a hospital for nervous diseases and £50,000 to King Edward's Hospital Fund in memory of his only child. He built and endowed an Anglo-German Institute in 1911 in memory of

. During the

First World War World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

Cassel made large financial gifts to the

British Red Cross The British Red Cross Society is the United Kingdom body of the worldwide neutral and impartial humanitarian network the International Red Cross and Red Crescent Movement. The society was formed in 1870, and is a registered charity with more ...

and other war time charitable entities working to ameliorate privation being suffered by British military casualties. Cassel had a famous art collection and many beautiful houses. He bred racehorses and owned

Moulton Paddocks Moulton Paddocks is a racing stable in Newmarket, Suffolk, UK operated by Godolphin Racing. It is said to have the capacity for around 200 horses, many of which are of extremely high quality. The stable is currently run by Charlie Appleby. H ...

in Newmarket.

Family

Cassel was married at Westminster, in 1878, to Annette Mary Maud Maxwell. Their only child, Amalia Mary Maud Cassel (1880–1911), married

Wilfrid Ashley, 1st Baron Mount Temple Colonel Wilfrid William Ashley, 1st Baron Mount Temple, PC (13 September 1867 – 3 July 1939) was a British soldier and Conservative politician. He served as Minister of Transport between 1924 and 1929 under Stanley Baldwin. Background and e ...

. After the early death of his wife Annette in 1881 he and his widowed sister Wilhelmina (known as Bobbie) helped each other bring up his daughter (Maud) and Wilhelmina's son (Felix) and daughter (Anna). Maud died as a young woman, leaving him two granddaughters ( Edwina and

Mary Mary may refer to: People * Mary (name), a feminine given name (includes a list of people with the name) Religious contexts * New Testament people named Mary, overview article linking to many of those below * Mary, mother of Jesus, also calle ...

) on whom he doted. He was particularly attached to Edwina, who looked after him in his old age. She later married Lord

Louis Mountbatten Louis Francis Albert Victor Nicholas Mountbatten, 1st Earl Mountbatten of Burma (25 June 1900 – 27 August 1979) was a British naval officer, colonial administrator and close relative of the British royal family. Mountbatten, who was of German ...

. Cassel's nephew was the

barrister A barrister is a type of lawyer in common law jurisdictions. Barristers mostly specialise in courtroom advocacy and litigation. Their tasks include taking cases in superior courts and tribunals, drafting legal pleadings, researching law and ...

Sir Felix Cassel, who later became Judge Advocate-General to the Forces. Cassel became a

Roman Catholic Roman or Romans most often refers to: *Rome, the capital city of Italy *Ancient Rome, Roman civilization from 8th century BC to 5th century AD *Roman people, the people of ancient Rome *'' Epistle to the Romans'', shortened to ''Romans'', a lette ...

at the behest of his wife, but many still considered him a Jew. The establishment was surprised to find out that he had converted when he chose to be sworn into the Privy Council with the

Douay–Rheims Bible The Douay–Rheims Bible (, ), also known as the Douay–Rheims Version, Rheims–Douai Bible or Douai Bible, and abbreviated as D–R, DRB, and DRV, is a translation of the Bible from the Latin Vulgate into English made by member ...

Honours

Ernest Joseph Cassel, Vanity Fair, 1899-12-07

Cassel's friendship with the King and achievements in international finance earned him many British and foreign honours. Contemporary society gossip suggested that he demanded these as a return for his services. In 1899, he was made a Knight Commander of the

Order of St Michael and St George The Most Distinguished Order of Saint Michael and Saint George is a British order of chivalry founded on 28 April 1818 by George IV, George IV, Prince of Wales, while he was acting as prince regent for his father, George III, King George III. ...

(KCMG). In 1901, he was made a Knight Commander of the

Royal Victorian Order The Royal Victorian Order (french: Ordre royal de Victoria) is a dynastic order of knighthood established in 1896 by Queen Victoria. It recognises distinguished personal service to the British monarch, Canadian monarch, Australian monarch, o ...

(KCVO). He was sworn a member of the

Privy Council A privy council is a body that advises the head of state of a state, typically, but not always, in the context of a monarchic government. The word "privy" means "private" or "secret"; thus, a privy council was originally a committee of the mon ...

on 11 August 1902, following an announcement of the King's intention to make this appointment in the

1902 Coronation Honours The 1902 Coronation Honours were announced on 26 June 1902, the date originally set for the coronation of King Edward VII. The coronation was postponed because the King had been taken ill two days before, but he ordered that the honours list shou ...

list published in June that year. In 1905, he was promoted to Knight Grand Cross of the Order of St Michael and St George (GCMG) and, in 1906, he was promoted to Knight Grand Cross of the Royal Victorian Order (GCVO). In the 1909 Birthday Honours, he was made a Knight Grand Cross of the

Order of the Bath The Most Honourable Order of the Bath is a British order of chivalry founded by George I of Great Britain, George I on 18 May 1725. The name derives from the elaborate medieval ceremony for appointing a knight, which involved Bathing#Medieval ...

(GCB). Awards received in thanks for services to foreign governments included Commander, first class, of the

Royal Order of Vasa The Royal Order of Vasa () is a Swedish order of chivalry, awarded to citizens of Sweden for service to state and society especially in the fields of agriculture, mining and commerce. It was instituted on 29 May 1772 by King Gustav III. It was un ...

in 1900 from Sweden, the Grand Cordon of the Imperial Ottoman

Order of Osmanieh The Order of Osmanieh or Order of Osmaniye ( ota, نشانِ عثمانیہ) was a civil and military decoration of the Ottoman Empire. History The order was created in January 1862 by Sultan Abdülaziz. With the obsolescence of the Nişan-i ...

in December 1902 while visiting Egypt for the opening of the Assuan dam, Commander of the

Légion d'honneur The National Order of the Legion of Honour (french: Ordre national de la Légion d'honneur), formerly the Royal Order of the Legion of Honour ('), is the highest French order of merit, both military and civil. Established in 1802 by Napoleon ...

in 1906 from France, the Order of the Crown, first class, in 1908 from

, the Grand Cross of the

Order of the Polar Star The Royal Order of the Polar Star (Swedish: ''Kungliga Nordstjärneorden'') is a Swedish order of chivalry created by King Frederick I on 23 February 1748, together with the Order of the Sword and the Order of the Seraphim. The Order of the ...

in 1909 from Sweden, the

Order of the Rising Sun The is a Japanese order, established in 1875 by Emperor Meiji. The Order was the first national decoration awarded by the Japanese government, created on 10 April 1875 by decree of the Council of State. The badge features rays of sunlight ...

, first class, in 1911 from Japan and the

Order of the Red Eagle The Order of the Red Eagle (german: Roter Adlerorden) was an order of chivalry of the Kingdom of Prussia. It was awarded to both military personnel and civilians, to recognize valor in combat, excellence in military leadership, long and faithful se ...

, first class with brilliants in 1913 from Prussia.

Legacy

In 1919, Cassel founded and endowed the

Cassel Hospital The Cassel Hospital is a psychiatric facility in a Grade II listed building at 1 Ham Common, Richmond, Ham in the London Borough of Richmond upon Thames. It is run by the West London NHS Trust. History The hospital The hospital was founded ...

, originally at Swaylands near Penshurst, and now at No. 1 Ham Common,

Ham Ham is pork from a leg cut of pork, cut that has been food preservation, preserved by wet or dry Curing (food preservation), curing, with or without smoking (cooking), smoking."Bacon: Bacon and Ham Curing" in ''Chambers's Encyclopædia''. Lo ...

, near

Richmond, London Richmond is a town in south-west London,The London Government Act 1963 (c.33) (as amended) categorises the London Borough of Richmond upon Thames as an Outer London borough. Although it is on both sides of the River Thames, the Boundary Commiss ...

. The hospital is a therapeutic community for the mentally ill, providing residential, day and outreach services, part of the

NHS The National Health Service (NHS) is the umbrella term for the publicly funded healthcare systems of the United Kingdom (UK). Since 1948, they have been funded out of general taxation. There are three systems which are referred to using the " ...

Death

Cassel died at Brook House,

Park Lane Park Lane is a dual carriageway road in the City of Westminster in Central London. It is part of the London Inner Ring Road and runs from Hyde Park Corner in the south to Marble Arch in the north. It separates Hyde Park to the west from May ...

, London. His body was buried in

Kensal Green Cemetery Kensal Green Cemetery is a cemetery in the Kensal Green area of Queens Park in the Royal Borough of Kensington and Chelsea in London, England. Inspired by Père Lachaise Cemetery in Paris, it was founded by the barrister George Frederic ...

. Cassel's estate was valued at his death at £7,333,411 gross and £6,000,000 (equivalent to £ today) for probate. A 2001 study of probate records put the value at £7,333,000

References

External links

Sir Ernest Cassel Educational TrustBiography
at Pro Natura Center Aletsch, Villa Cassel, CH-3987 Riederalp * {{DEFAULTSORT:Cassel, Ernest English bankers English racehorse owners and breeders Converts to Roman Catholicism from Judaism English Roman Catholics English art collectors German emigrants to England Members of the Privy Council of the United Kingdom Naturalised citizens of the United Kingdom 1852 births 1921 deaths Businesspeople from Cologne Burials at Kensal Green Cemetery Knights Grand Cross of the Order of the Bath Knights Grand Cross of the Order of St Michael and St George Knights Grand Cross of the Royal Victorian Order Commandeurs of the Légion d'honneur Commanders First Class of the Order of Vasa Commanders Grand Cross of the Order of the Polar Star Grand Cordons of the Order of the Rising Sun 19th-century German Jews People from the Rhine Province