John Kenneth Ritchie, 3rd Baron Ritchie of Dundee, PC (22 September 1902 – 20 October 1975) was a British stockbroker. He was the chairman of the

Stock Exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...

from 1959 to 1965.

Biography

Born at 52 Earls Court Square, London, Ritchie was the second son of Charles Ritchie, 2nd Baron Ritchie of Dundee, chairman of the

Port of London Authority The Port of London Authority (PLA) is a self-funding public trust established on 31 March 1909 in accordance with the Port of London Act 1908 to govern the Port of London. Its responsibility extends over the Tideway of the River Thames and its ...

, and of Sarah Ruth, ''née'' Jennings (died 1950), fourth daughter of L. J. Jennings, MP. Ritchie was educated at

Royal Naval College, Osborne The Royal Naval College, Osborne, was a training college for Royal Navy officer cadets on the Osborne House estate, Isle of Wight, established in 1903 and closed in 1921. Boys were admitted at about the age of thirteen to follow a course lasting ...

Winchester College Winchester College is a public school (fee-charging independent day and boarding school) in Winchester, Hampshire, England. It was founded by William of Wykeham in 1382 and has existed in its present location ever since. It is the oldest of the ...

, and

Magdalen College, Oxford Magdalen College (, ) is a constituent college of the University of Oxford. It was founded in 1458 by William of Waynflete. Today, it is the fourth wealthiest college, with a financial endowment of £332.1 million as of 2019 and one of the s ...

, but left without taking a degree. He joined the London stockbroking firm of Richardson and Glover in 1923, becoming a partner in 1926. Following in the steps of his father, he was Mayor of

Winchelsea Winchelsea () is a small town in the non-metropolitan county of East Sussex, within the historic county of Sussex, England, located between the High Weald and the Romney Marsh, approximately south west of Rye and north east of Hastings. Th ...

in 1934. As a younger son he had no expectation of succeeding to the family title, but he became his father's heir on the death of his elder brother in 1927. He succeeded his father to the barony in 1948. During the

Second World War World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

, he served in the

King's Royal Rifle Corps The King's Royal Rifle Corps was an infantry rifle regiment of the British Army that was originally raised in British North America as the Royal American Regiment during the phase of the Seven Years' War in North America known in the United St ...

from 1940 to 1945, achieving the rank of

captain Captain is a title, an appellative for the commanding officer of a military unit; the supreme leader of a navy ship, merchant ship, aeroplane, spacecraft, or other vessel; or the commander of a port, fire or police department, election precinct, e ...

. After the war, in 1946 he became senior partner of Richardson and Glover, which eventually merged with another firm to become Norris, Oakely, Richardson, and Glover in 1966. In 1947, Ritchie was elected to the council of the Stock Exchange. After serving on several key committees, he was elected as one of the two deputy chairmen in 1954. He was elected unopposed as chairman of Stock Exchange in 1959 in succession to Sir John Braithwaite. As chairman, Ritchie set out to modernize the Stock Exchange: he rebuilt the trading floor, began work on the unification of British and Irish stock exchanges, and raised the standards of Stock Exchange members and firms. He also advocated for the reform of the stock transfer system and opposed capital gains tax. Ritchie retired from the Stock Exchange chairmanship in 1965 for medical reasons, but continued on the council as deputy chairman supernumerary and a member of the committees responsible for the rebuilding and the federated stock exchanges. He was sworn 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 ...

in recognition for his services. He died in 1975 and the title passed to his younger brother, the fourth Baron.

References

* https://www.oxforddnb.com/view/10.1093/ref:odnb/9780198614128.001.0001/odnb-9780198614128-e-48814 * https://www.ukwhoswho.com/view/10.1093/ww/9780199540891.001.0001/ww-9780199540884-e-158983?rskey=cJaQct&result=2

External links

* {{s-end 1902 births 1975 deaths British stockbrokers British stock traders People educated at the Royal Naval College, Osborne People educated at Winchester College Alumni of Magdalen College, Oxford British Army personnel of World War II King's Royal Rifle Corps officers Members of the Privy Council of the United Kingdom Barons in the Peerage of the United Kingdom Younger sons of barons