Jardine Matheson Holdings Limited (also known as Jardines) is a
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...
-based
Bermuda
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, anthem = "God Save the King"
, song_type = National song
, song = " Hail to Bermuda"
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, subdivision_type = Sovereign state
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-domiciled British multinational
conglomerate
Conglomerate or conglomeration may refer to:
* Conglomerate (company)
* Conglomerate (geology)
* Conglomerate (mathematics)
In popular culture:
* The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes
** Co ...
. It has a primary listing on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
and secondary listings on the
Singapore Exchange
The Singapore Exchange Limited (SGX) is a Singaporean investment holding company that provides different services related to securities and derivatives trading and others. SGX is also a member of the World Federation of Exchanges and the Asian ...
and
Bermuda Stock Exchange
The Bermuda Stock Exchange (BSX), established in 1971, is located in Hamilton, Bermuda. The stock exchange's 2010 'Year End Review' report stated that its aggregate market capitalisation (excluding mutual funds) stood at US$319 billion.
The ...
. The majority of its business interests are in Asia, and its subsidiaries include Jardine Pacific,
Jardine Motors,
Hongkong Land
Hongkong Land (HKL) is a property investment, management and development group with commercial and residential property interests across Asia. It owns and manages some 850,000 sq. m. of office and retail property in Asia, principally in Hong K ...
,
Jardine Strategic Holdings,
DFI Retail Group
DFI Retail Group Holdings Limited (formerly known as Dairy Farm International Holdings Limited) is a Hong Kong retail company with its legal base in Bermuda. A member of the Jardine Matheson Group, it is a major East Asian-Southeast Asian reta ...
,
Mandarin Oriental Hotel Group
Mandarin Oriental Hotel Group International Limited (MOHG) is a Hong Kong hotel investment and management group focusing on luxury hotels, resorts, and residences, with a total of 33 properties worldwide, 20 of which are fully or partially ow ...
,
Jardine Cycle & Carriage
Jardine Cycle & Carriage Limited () is the investment holding company of the Jardine Matheson Group in Southeast Asia. It is currently 75%-held by the conglomerate.
The company was listed on the Singapore Exchange in 1969 as Cycle & Carriage Lim ...
and
Astra International
Astra International is an Indonesian conglomerate controlled by Jardine Matheson. It is founded in 1957 by Tjia Kian Tie, Liem Pen Hong with the name of PT. Astra International Incorporated.
It is Southeast Asia's largest independent automotive g ...
. It set up the
Jardine Scholarship
The Jardine Scholarship is a full scholarship, primarily for undergraduates, offered by Jardines for study at the Universities of Oxford and Cambridge. It was established in 1982 to commemorate the company's 150th anniversary and was founded wi ...
in 1982 and Mindset, a mental health-focused charity, in 2002.
Jardines was one of the original Hong Kong trading houses or
Hongs
A ''hong'' () originally designates both a type of building and a type of Chinese merchant intermediary in Guangzhou (formerly known as Canton), Guangdong, China, in the 18–19th century, specifically during the Canton System period.
Guangzh ...
that date back to
Imperial China
The earliest known written records of the history of China date from as early as 1250 BC, from the Shang dynasty (c. 1600–1046 BC), during the reign of king Wu Ding. Ancient historical texts such as the '' Book of Documents'' (early chapte ...
.
58 per cent of the company's profits were earned in China in 2019.
The company is controlled by the
Keswick family
The Keswick family (pronounced with a silent "w", "Kezzick") are a business dynasty of Scottish origin associated with the Far East region since 1855 and in particular the conglomerate Jardine Matheson.
As tai-pans of Jardine Matheson & Company, ...
, who are descendants of co-founder William Jardine's older sister, Jean Johnstone.
Jardine Matheson is a
''Fortune'' Global 500 company. In 2013, both Jardine Matheson and
Jardine Strategic Jardine Strategic Holdings Limited (, , ) is an investment holding company. It is a subsidiary of Jardine Matheson.
The company holds substantial interests in Dairy Farm, a pan-Asian retail group, Hongkong Land, a property group, Mandarin Oriental ...
were among the top 200 publicly traded companies in the world, as valued by
market capitalisation
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders.
Market capitalization is equal to the market price per common share multiplied by t ...
.
History
19th century to WWII: The early days
![1846ViewFromCausewayBayOfJardinesBuilding](https://upload.wikimedia.org/wikipedia/commons/9/9e/1846ViewFromCausewayBayOfJardinesBuilding.jpg)
The firm of Jardine, Matheson & Company emerged in 1832 from an evolving process of partnership changes in the trading business Cox & Reid, a partnership established in 1782 between
John Cox and
John Reid, the latter having been agent of the
Austrian
Austrian may refer to:
* Austrians, someone from Austria or of Austrian descent
** Someone who is considered an Austrian citizen, see Austrian nationality law
* Austrian German dialect
* Something associated with the country Austria, for example: ...
trading company,
Trieste Company
Austrian East India Company (german: Österreichische Ostindien-Kompanie) is a catchall term referring to a series of Austrian trading companies based in Ostend and Trieste. The Imperial Asiatic Company of Trieste and Antwerp (french: Société im ...
.
[.]
University of Edinburgh Medical School
The University of Edinburgh Medical School (also known as Edinburgh Medical School) is the medical school of the University of Edinburgh in Scotland and the United Kingdom and part of the College of Medicine and Veterinary Medicine. It was esta ...
graduate
William Jardine (1784-1843) joined the firm, by then having morphed through Cox & Beale, Beale & Company and Beale & Magniac into Magniac & Company, and the original partners long gone, in 1825 at the invitation of principal
Hollingworth Magniac
Hollingworth Magniac (1786–1867)Charles Mosley, editor, Burke's Peerage, Baronetage & Knightage, 107th edition, 3 volumes (Wilmington, Delaware, U.S.A.: Burke's Peerage (Genealogical Books) Ltd, 2003), volume 3, p. 4138. was a merchant and conno ...
.
University of Edinburgh
The University of Edinburgh ( sco, University o Edinburgh, gd, Oilthigh Dhùn Èideann; abbreviated as ''Edin.'' in post-nominals) is a public research university based in Edinburgh, Scotland. Granted a royal charter by King James VI in 15 ...
graduate
James Matheson
Sir James Nicolas Sutherland Matheson, 1st Baronet, FRS (17 November 179631 December 1878), was a Scottish Tai-Pan. Born in Shiness, Lairg, Sutherland, Scotland, he was the son of Captain Donald Matheson. He attended Edinburgh's Royal High Sch ...
joined three years later as Magniac prepared to retire.
With the cession of Hong Kong under the 1842
Treaty of Nanking
The Treaty of Nanjing was the peace treaty which ended the First Opium War (1839–1842) between Great Britain and the Qing dynasty of China on 29 August 1842. It was the first of what the Chinese later termed the Unequal Treaties.
In the ...
, the firm, by then named Jardine, Matheson & Company, set up its headquarters on the island and grew rapidly. Continuing its longstanding trade in
smuggled opium, tea, and cotton, the firm diversified into other areas including insurance, shipping, and railways. By the mid-19th century, the company had become the largest of the ''
hongs
A ''hong'' () originally designates both a type of building and a type of Chinese merchant intermediary in Guangzhou (formerly known as Canton), Guangdong, China, in the 18–19th century, specifically during the Canton System period.
Guangzh ...
'' or foreign trading conglomerates with offices in all the important Chinese cities as well as
Yokohama
is the second-largest city in Japan by population and the most populous municipality of Japan. It is the capital city and the most populous city in Kanagawa Prefecture, with a 2020 population of 3.8 million. It lies on Tokyo Bay, south of To ...
,
Japan
Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...
. One of its branch agencies,
Glover and Co., established in
Nagasaki
is the capital and the largest city of Nagasaki Prefecture on the island of Kyushu in Japan.
It became the sole port used for trade with the Portuguese and Dutch during the 16th through 19th centuries. The Hidden Christian Sites in the ...
, was known in Japan as an arms dealer who contracted with then-rebel forces from
Chōshū Domain
The , also known as the , was a domain (''han'') of the Tokugawa Shogunate of Japan during the Edo period from 1600 to 1871.Deal, William E. (2005) ''Handbook to Life in Medieval and Early Modern Japan,'' p. 81
The Chōshū Domain was base ...
who led the
Meiji Restoration
The , referred to at the time as the , and also known as the Meiji Renovation, Revolution, Regeneration, Reform, or Renewal, was a political event that restored practical imperial rule to Japan in 1868 under Emperor Meiji. Although there were ...
in 1868.
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.
[''CHINA: Road to Disillusion''](_blank)
, ''Time
Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to ...
'', 8 February 1954
Post-WWII restructuring and expansion
The firm
listed
Listed may refer to:
* Listed, Bornholm, a fishing village on the Danish island of Bornholm
* Listed (MMM program), a television show on MuchMoreMusic
* Endangered species in biology
* Listed building, in architecture, designation of a historicall ...
in Hong Kong in 1961.
The landmark
Mandarin 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
Sugarcane was introduced to Hawaiʻi by its first inhabitants in approximately 600 AD and was observed by Captain Cook upon arrival in the islands in 1778.Deerr, 1949 Sugar quickly turned into a big business and generated rapid population growt ...
and the
Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no),
* bik, Republika kan Filipinas
* ceb, Republika sa Pilipinas
* cbk, República de Filipinas
* hil, Republ ...
were acquired. A Hong Kong building boom in the mid 1970s saw Jardine's buy
Gammon Construction
Gammon Construction Limited is a Hong Kong construction and engineering contractor headquartered in Kwun Tong, Hong Kong. In addition to local construction projects, it also involved in construction and engineering various projects in China and ...
, 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
The Chinese economic reform or reform and opening-up (), known in the West as the opening of China, is the program of economic reforms termed " Socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of Ch ...
and a year later the firm established the
Beijing Air Catering Company Ltd., the first foreign joint venture in the country since 1954. 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
re-domiciling to Bermuda in 1984 ahead of the 1997
handover of Hong Kong
Sovereignty of Hong Kong was transferred from the United Kingdom to the China, People's Republic of China (PRC) at midnight on 1 July 1997. This event ended 156 years of British rule in the British Hong Kong, former colony. Hong Kong was establ ...
, in 1990 Jardine Matheson Holdings and four other listed group companies arranged primary share listings on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
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
Jardine Lloyd Thompson Group plc, also known as JLT Group or simply JLT, was a British multinational corporation that had its headquarters in London, England. It provided insurance, reinsurance, employment benefits advice and Brokerage firm, bro ...
, the acquisition of a 16% interest in Singapore blue-chip
Cycle & Carriage
Cycle and Carriage was a company, founded in 1899, and based in Singapore and Malaysia. Cycle and Carriage was one of the premier automotive groups in Singapore and was engaged in the retail, distribution and provision of after-sales service of M ...
and
Dairy Farm
Dairy farming is a class of agriculture for long-term production of milk, which is processed (either on the farm or at a dairy plant, either of which may be called a dairy) for eventual sale of a dairy product. Dairy farming has a history that ...
’s purchase of a significant stake in Indonesia's leading supermarket group
Hero
A hero (feminine: heroine) is a real person or a main fictional character who, in the face of danger, combats adversity through feats of ingenuity, courage, or Physical strength, strength. Like other formerly gender-specific terms (like ...
. Hotel brand
Mandarin Oriental
Mandarin Oriental Hotel Group International Limited (MOHG) is a Hong Kong hotel investment and management group focusing on luxury hotels, resorts, and residences, with a total of 33 properties worldwide, 20 of which are fully or partially ow ...
also embarked on a strategy to double its available rooms and improve returns.
The first decade of the new millennium saw Jardine Cycle & Carriage acquire an initial 31% stake in
Astra International
Astra International is an Indonesian conglomerate controlled by Jardine Matheson. It is founded in 1957 by Tjia Kian Tie, Liem Pen Hong with the name of PT. Astra International Incorporated.
It is Southeast Asia's largest independent automotive g ...
, which has since been increased to just over 50%.
Hongkong Land
Hongkong Land (HKL) is a property investment, management and development group with commercial and residential property interests across Asia. It owns and manages some 850,000 sq. m. of office and retail property in Asia, principally in Hong K ...
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
Hong Kong Air Cargo Terminals Limited (), commonly known as Hactl, is one of the leading air cargo terminal operators in the world. Located at Hong Kong International Airport, it handled a total throughput of 1.65 million tonnes of cargo in 201 ...
from 25% to 42%.
In 2018, Jardines sold its 41% interest in
Jardine Lloyd Thompson
Jardine Lloyd Thompson Group plc, also known as JLT Group or simply JLT, was a British multinational corporation that had its headquarters in London, England. It provided insurance, reinsurance, employment benefits advice and Brokerage firm, bro ...
to
Marsh and McLennan Companies
Marsh & McLennan Companies, Inc., doing business as Marsh McLennan, is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investmen ...
.
21st-century operations
![HK Central Jardine House C1](https://upload.wikimedia.org/wikipedia/commons/3/34/HK_Central_Jardine_House_C1.JPG)
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. The Group also has strategic interests in other entities.
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
{{Infobox company
, name = Jardine Engineering Corporation (JEC)
, logo =
, type = Private
, founder =
, location_city = Kwun Tong
, location_country = Hong Kong
, locations =
, are ...
(JEC),
Jardine Aviation Services, Hong Kong Air Cargo Terminals, Jardine Schindler (joint-venture with the
Schindler Group
, logo = Logo-schindler.png
, logo_size = 200px
, image = SchindlerTestTowerHeadOfficeEbikon.jpg
, image_size = 250px
, image_caption = Schindler Test Tower at the Head Office in Ebikon, Switzerland
, type = Public (''Aktiengesellschaft'')
, ...
which evolved from JEC's earlier appointment as Schindler's sole Hong Kong representative),
Gammon Construction
Gammon Construction Limited is a Hong Kong construction and engineering contractor headquartered in Kwun Tong, Hong Kong. In addition to local construction projects, it also involved in construction and engineering various projects in China and ...
and Jardine Travel Group as well as more contemporary interests that reflect the demands of Asian consumers; among them
Pizza Hut
Pizza Hut is an American multinational restaurant chain and international franchise founded in 1958 in Wichita, Kansas by Dan and Frank Carney. They serve their signature pan pizza and other dishes including pasta, breadsticks and dessert at d ...
restaurants in Hong Kong, Taiwan, Vietnam and Myanmar, KFC franchises in Hong Kong, Macau and Taiwan, and Jardine OneSolution IT services.
Jardine Motors
Jardine Motors is active in the sales and service of motor vehicles in Hong Kong, Macau, mainland China and the United Kingdom.
Subsidiary Zung Fu, which has held the
Mercedes-Benz
Mercedes-Benz (), commonly referred to as Mercedes and sometimes as Benz, is a German luxury and commercial vehicle automotive brand established in 1926. Mercedes-Benz AG (a Mercedes-Benz Group subsidiary established in 2019) is headquartere ...
luxury vehicle 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, Audi and Volkswagen, Jaguar and Land Rover, Mercedes Benz and Porsche.
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 9,140,000 square feet (850,000 m
2) of prime commercial space in
Central
Central is an adjective usually referring to being in the center of some place or (mathematical) object.
Central may also refer to:
Directions and generalised locations
* Central Africa, a region in the centre of Africa continent, also known as ...
. In Singapore, it is helping to create the city-state's
Central Business District
A central business district (CBD) is the commercial and business centre of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city ...
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.
DFI Retail Group
DFI Retail Group 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 grocery retail and health and beauty stores to convenience and home furnishings, operating under a number of 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, Hero, Yonghui, and MarketPlace; hypermarkets under the Giant brand; health and beauty stores under Mannings and Guardian; IKEA furniture stores in Hong Kong, Indonesia 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. , Dairy Farm owned 70% of the shares of Lucky Group, the largest grocery mall operator in Cambodia.
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 recognised 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 79% shareholding in Mandarin Oriental.
Jardine Cycle and 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 across Indonesia, Malaysia, Singapore, Vietnam, Myanmar, and Thailand. Jardine Cycle & Carriage operates in Singapore, Malaysia, and Myanmar under the Cycle & Carriage banner. The group represents some of the world's best-known motoring marques including Mercedes-Benz, Toyota, Honda and Kia. Jardine Strategic has a 72% shareholding in Jardine Cycle & Carriage.
Astra International
Astra is Southeast Asia's largest independent automotive diversified business group with seven primary businesses in Indonesia. 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, UD Trucks, 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 and mining; agribusiness; infrastructure and logistics; and information technology. In financial services, Astra's businesses provide financial products and services to support its automotive, heavy equipment sales, and general and life insurance.
Corporate structure
Henry Keswick, the company's
Tai-pan
A tai-pan (,Andrew J. Moody, "Transmission Languages and Source Languages of Chinese Borrowings in English", ''American Speech'', Vol. 71, No. 4 (Winter, 1996), pp. 414-415. literally "top class"汉英词典 — ''A Chinese-English Dictionary' ...
from 1970 (aged 31) to 1975 and the 6th Keswick to be Tai-pan of the company, is chairman emeritus. His brother, Simon, was the company's Tai-pan from 1983 to 1988 and was 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 executive chairman of Jardine Matheson Group and from 2012 to 2021 was Tai-pan. Adam Keswick, son of Sir
Chips Keswick
Sir John Chippendale "Chips" Lindley Keswick (born 2 February 1940) is a British merchant banker and member of the Keswick family who control Jardine Matheson, founded by William Jardine. He was chairman of Arsenal Football Club from June 2013 ...
was Deputy managing director. The organizational structure of Jardines has changed fundamentally since its foundation, but the members of the family of Dr William Jardine still have significant influence in the firm.
Directors
As of 2021, the directors of Jardine Matheson Holdings were:
* Ben Keswick, executive chairman
* John Witt, managing director
* Y.K. Pang
* Graham Baker
*
Stuart Gulliver
Stuart Thomson Gulliver (born 9 March 1959) is a British banker, and the former group chief executive of HSBC. He was succeeded on 21 February 2018 by John Flint.
Early life and education
He was born in Derby, England, in 1959. His father P ...
* David Hsu
* Julian Hui
*
Adam Keswick
* Alex Newbigging
*
Anthony Nightingale
Anthony John Liddell Nightingale CMG, SBS (traditional ) (born 1947) is a Hong Kong businessman. He spent his career with Jardine Matheson Holdings, a diversified business group focused on Asia, and served as managing director from 2006 to 2012. ...
* Jeremy Parr
*
Percy Weatherall
Edward Percy Keswick Weatherall (born 1957) is a 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.
Weatherall joined the Jardine G ...
* Michael Wei Kuo Wu
Lord Sassoon, a former UBS Warburg banker who had been a junior minister in the British Treasury since May 2010, joined Jardine Matheson as an executive board member in January 2013. This appointment brought together members of two great Asian trading dynasties, since Jardine Matheson and the
Sassoon family
The Sassoon family, known as "Rothschilds of the East" due to the immense wealth they accumulated in finance and trade, are a family of Baghdadi Jewish descent. Originally based in Baghdad, Iraq, they later moved to Bombay, India, and then emig ...
were rivals in the 19th century when they competed to open up and grow trade in Hong Kong and China. He retired on 9 April 2020.
Scottish leadership
Until 1936, principles of staff recruitment, told by Keswick, remained Scottish first, Oxbridge second.
"With all due deference to the 'east coast of England'
reference to CambridgeI do feel that men from north of the border are the most suitable for our routine business... I am very keen on keeping the Scottish entity of the Firm. But I hope I have not conveyed that I have swung against the University man... I merely consider that he must be aided and abettered by the solid, plodding type from Scotland."
Jardines is controlled by the
Keswick family
The Keswick family (pronounced with a silent "w", "Kezzick") are a business dynasty of Scottish origin associated with the Far East region since 1855 and in particular the conglomerate Jardine Matheson.
As tai-pans of Jardine Matheson & Company, ...
, who are direct descendants of William Jardine's sister Jean through the marriage of her daughter to Thomas Keswick, father of
William Keswick
William Keswick (15 April 1834 – 9 March 1912) was a British Conservative politician and businessman, patriarch of the Keswick family, an influential shipping family in Hong Kong associated with Jardine Matheson Holdings.
Biography
Keswick w ...
, an early
Tai-pan
A tai-pan (,Andrew J. Moody, "Transmission Languages and Source Languages of Chinese Borrowings in English", ''American Speech'', Vol. 71, No. 4 (Winter, 1996), pp. 414-415. literally "top class"汉英词典 — ''A Chinese-English Dictionary' ...
of the firm. While the leadership of Jardines is Scottish, the firm is international in its dealings. The staff of Jardines 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
The Flemish or Flemings ( nl, Vlamingen ) are a Germanic ethnic group native to Flanders, Belgium, who speak Dutch. Flemish people make up the majority of Belgians, at about 60%.
"''Flemish''" was historically a geographical term, as all inha ...
, of which the author
Ian Fleming
Ian Lancaster Fleming (28 May 1908 – 12 August 1964) was a British writer who is best known for his postwar ''James Bond'' series of spy novels. Fleming came from a wealthy family connected to the merchant bank Robert Fleming & Co., a ...
was also a member. From 1970 until 1998, Jardine Matheson operated a pan-Asian investment banking joint venture,
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. It was acquired by JP Morgan Chase
JPMorgan Chase & Co. is an American multinational investment bank ...
, 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
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the wo ...
.
Influence
* Jardines' history was the inspiration for a series of novels written by
James Clavell
James Clavell (born Charles Edmund Dumaresq Clavell; 10 October 1921 – 7 September 1994) was an Australian-born British (later naturalized American) writer, screenwriter, director, and World War II veteran and prisoner of war. Clavell is best ...
, including ''
Tai-Pan
A tai-pan (,Andrew J. Moody, "Transmission Languages and Source Languages of Chinese Borrowings in English", ''American Speech'', Vol. 71, No. 4 (Winter, 1996), pp. 414-415. literally "top class"汉英词典 — ''A Chinese-English Dictionary' ...
'', ''
Whirlwind
A whirlwind is a weather phenomenon in which a vortex of wind (a vertically oriented rotating column of air) forms due to instabilities and turbulence created by heating and flow (current) gradients. Whirlwinds occur all over the world and ...
'', ''
Gai-Jin
''Gai-Jin'' (Japanese for "foreigner") 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 t ...
'', and ''
Noble House''. The
''Noble House'' 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.
["Book (1966): ''Tai-Pan'', James Clavell", '']South China Morning Post
The ''South China Morning Post'' (''SCMP''), with its Sunday edition, the ''Sunday Morning Post'', is a Hong Kong-based English-language newspaper owned by Alibaba Group. Founded in 1903 by Tse Tsan-tai and Alfred Cunningham, it has remained ...
'' (29 March 2009), p. 7.[Robyn Meredith, "Sailing From Old to New Asia; Jardine Matheson is ever more a play on its traditional region", '']Forbes Asia
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
'', Volume 4, Issue 15 (15 September 2008), p. 88.
* Jardines installed the first elevator in China in the northern city of
Tianjin
Tianjin (; ; Mandarin: ), alternately romanized as Tientsin (), is a municipality and a coastal metropolis in Northern China on the shore of the Bohai Sea. It is one of the nine national central cities in Mainland China, with a total popul ...
.
* Many streets in present-day Hong Kong are named after the firm, its founders and past
Tai-pan
A tai-pan (,Andrew J. Moody, "Transmission Languages and Source Languages of Chinese Borrowings in English", ''American Speech'', Vol. 71, No. 4 (Winter, 1996), pp. 414-415. literally "top class"汉英词典 — ''A Chinese-English Dictionary' ...
s, mostly concentrated in Hong Kong's
East Point East Point is the name of several places:
In Australia
* East Point, Northern Territory
** East Point Military museum located in East Point, Northern Territory
In Canada
*East Point, Prince Edward Island
In Hong Kong:
*East Point, Hong Kong
In ...
and
Causeway Bay
Causeway Bay is list of buildings, sites and areas in Hong Kong, an area and Victoria Park, Hong Kong, a bay on Hong Kong Island, Hong Kong, straddling the border of the Eastern District, Hong Kong, Eastern and the Wan Chai District, Wan Chai ...
Districts, where Jardines' offices were located in the early days. The name of
Yee Wo Street
Yee 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
Yeewo was the Cantonese name of a Qing Dynasty hong established by W ...
in comes from Jardine's Chinese name "Ewo" whilst other streets associated with the company include
Jardine's Bazaar
Jardine'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 ...
, Jardine's Crescent, Jardine's Bridge,
Jardine's Lookout
Jardine's Lookout () is a mountain in Wan Chai District, Hong Kong with a height of . It is located east of Happy Valley, south of Causeway Bay, and west of Braemar Hill and north of Tai Tam Country Park.
A low-density residential area called ...
, Matheson Street,
Leighton Road
Leighton Road () is a main road in Causeway Bay, Hong Kong. It begins east of Causeway Road and ends at the west of the junction with Morrison Hill Road and Canal Road.
History
Part of the road skirts Leighton Hill to its north while part of ...
,
Percival Street
Percival Street is a street in the East Point and Happy Valley, Hong Kong Island, Hong Kong. The street spans from Gloucester Road in the north to Leighton Road in the south. Between Hennessy Road and Leighton Road, the street is with a bra ...
and
Paterson Street
Paterson Street () is a street in Causeway Bay, Hong Kong Island, Hong Kong. It starts north at Victoria Park Road, crosses Kingston Street and Great George Street and ends at Yee Wo Street or Canadian Street to the south.
The street was name ...
.
* Jardines is responsible for maintaining the tradition of firing the
Noonday Gun
The ''Noonday'' ''Gun'' () is a former naval artillery piece 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 an ...
, a duty said to have been imposed on them by a new Senior Naval Officer on hearing them fire a salute for the Taipan when his schooner arrived in Hong Kong as they had no official authority to fire salutes. The practice was immortalised in
Noël Coward
Sir Noël Peirce Coward (16 December 189926 March 1973) was an English playwright, composer, director, actor, and singer, known for his wit, flamboyance, and what ''Time'' magazine called "a sense of personal style, a combination of cheek and ...
's song "
Mad Dogs and Englishmen".
See also
*
List of trading companies
A trading company is a business that works with different kinds of products sold for consumer, business purposes. In contemporary times, trading companies buy a specialized range of products, shopkeeper them, and coordinate delivery of products t ...
Notes
References
*
*
*
Online version at Google books*
*
*
*
*
*
Online version at Google Books*
*
Online version at Google books*
Online version at Google Books*
*
Online version at Google books*
Online version at Google Books*
Online version at Google Books*
Online version at Google Books*
Online version at Google Books*
*
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).
External links
Official websiteOfficial Jardine Motors Group websiteOfficial Jardine Shipping Services website
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History of Hong Kong
British Hong Kong
Companies established in 1832
Trading companies of Hong Kong
Offshore companies of Bermuda
Conglomerate companies of Hong Kong
Retail companies of Hong Kong
Companies formerly listed on the Hong Kong Stock Exchange
Former companies in the Hang Seng Index
Companies listed on the London Stock Exchange
Companies listed on the Singapore Exchange
1832 establishments in the British Empire
Companies of Bermuda
History of Guangzhou