Michael Bruce Forsyth, Baron Forsyth of Drumlean, PC (born 16 October 1954) is a British financier and

Conservative Conservatism is a cultural, social, and political philosophy that seeks to promote and to preserve traditional institutions, practices, and values. The central tenets of conservatism may vary in relation to the culture and civilization in ...

politician, who was the

Member of Parliament A member of parliament (MP) is the representative in parliament of the people who live in their electoral district. In many countries with bicameral parliaments, this term refers only to members of the lower house since upper house members o ...

(MP) for

Stirling Stirling (; sco, Stirlin; gd, Sruighlea ) is a city in central Scotland, northeast of Glasgow and north-west of Edinburgh. The market town, surrounded by rich farmland, grew up connecting the royal citadel, the medieval old town with its me ...

from 1983 to 1997 and served in the

cabinet Cabinet or The Cabinet may refer to: Furniture * Cabinetry, a box-shaped piece of furniture with doors and/or drawers * Display cabinet, a piece of furniture with one or more transparent glass sheets or transparent polycarbonate sheets * Filin ...

John Major Sir John Major (born 29 March 1943) is a British former politician who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 1990 to 1997, and as Member of Parliament (MP) for Huntingdon, formerly Hunting ...

Secretary of State for Scotland The secretary of state for Scotland ( gd, Rùnaire Stàite na h-Alba; sco, Secretar o State fir Scotland), also referred to as the Scottish secretary, is a Secretary of State (United Kingdom), secretary of state in the Government of the Unit ...

from 1995 to 1997. He is Chairman of Secure Trust Bank, and a Director of J&J Denholm and of Denholm Logistics Ltd. He was a director and Chairman of Hyperion Insurance Group until its merger with RKH Group in 2015. A former Deputy Chairman of JPMorgan UK and

Evercore Partners Evercore Inc., formerly known as Evercore Partners, is a global independent investment banking advisory firm founded in 1995 by Roger Altman, David Offensend, and Austin Beutner. The firm has advised on over $4.7 trillion of merger, acquisition, ...

International, he was

knighted A knight is a person granted an honorary title of knighthood by a head of state (including the Pope) or representative for service to the monarch, the church or the country, especially in a military capacity. Knighthood finds origins in the G ...

in 1997 and appointed to the

House of Lords The House of Lords, also known as the House of Peers, is the upper house of the Parliament of the United Kingdom. Membership is by appointment, heredity or official function. Like the House of Commons, it meets in the Palace of Westminst ...

in 1999. He is 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 mo ...

and served on the Development Boards of the

Royal Society The Royal Society, formally The Royal Society of London for Improving Natural Knowledge, is a learned society and the United Kingdom's national academy of sciences. The society fulfils a number of roles: promoting science and its benefits, re ...

and the National Portrait Gallery. He is also a past president of the Royal Highland and Agricultural Society of Scotland. He was appointed for a second term to the House of Lords' Economic Affairs Committee in 2015, and as its chairman following the election in 2017. He was elected as Chairman of the Association of Conservative Peers in September 2021 (the House of Lords' equivalent to the House of Commons'

1922 Committee The 1922 Committee, formally known as the Conservative Private Members' Committee, is the parliamentary group of the Conservative Party in the House of Commons of the United Kingdom. The committee, consisting of all Conservative backbench member ...

). He is president of the Steamboat Association of Great Britain.

Early life

Forsyth was born in

Montrose, Angus Montrose ( , gd, Monadh Rois) is a town and former royal burgh in Angus, Scotland. Situated north of Dundee and south of Aberdeen, Montrose lies between the mouths of the North and South Esk rivers. It is the northernmost coastal town in Angus ...

, the eldest son of John T. and Mary Forsyth. He was educated at Arbroath High School and the

University of St Andrews (Aien aristeuein) , motto_lang = grc , mottoeng = Ever to ExcelorEver to be the Best , established = , type = Public research university Ancient university , endowment ...

(1972–76). He was President of the Conservative Association at St Andrews University from 1973 to 1976. 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 Council Westminster City Council is the local authority for the City of Westminster in Greater London, England. The city is divided into 20 wards, each electing three councillors. The council is currently composed of 31 Labour Party members and 23 Cons ...

from 1978 to 1983. 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 A Parliamentary Private Secretary (PPS) is a Member of Parliament (MP) in the United Kingdom who acts as an unpaid assistant to a minister or shadow minister. They are selected from backbench MPs as the 'eyes and ears' of the minister in the ...

to the then Foreign Secretary

Geoffrey Howe Richard Edward Geoffrey Howe, Baron Howe of Aberavon, (20 December 1926 – 9 October 2015) was a British Conservative politician who served as Deputy Prime Minister of the United Kingdom from 1989 to 1990. Howe was Margaret Thatch ...

from 1986 to 1987. In 1987 he was appointed to the Scottish 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 to 1990. In 1996 he was named Parliamentarian of the Year. He was appointed Minister of State at the Department of Employment (1992–94), then the Home Office (1994–95), he became a member of

's cabinet in 1995 as

. In 1996, as Scottish Secretary, Forsyth was credited with transferring the Stone of Scone, also known as the Stone of Destiny, from

Westminster Abbey Westminster Abbey, formally titled the Collegiate Church of Saint Peter at Westminster, is an historic, mainly Gothic church in the City of Westminster, London, England, just to the west of the Palace of Westminster. It is one of the United ...

to (ultimately)

Edinburgh Castle Edinburgh Castle is a historic castle in Edinburgh, Edinburgh, Scotland. It stands on Castle Rock (Edinburgh), Castle Rock, which has been occupied by humans since at least the Iron Age, although the nature of the early settlement is unclear. ...

. He also established the University of the Highlands, crofters' rights to buy their land, promoted the Gaelic language and commissioned the restoration of the Great Hall at

Stirling Castle Stirling Castle, located in Stirling, is one of the largest and most important castles in Scotland, both historically and architecturally. The castle sits atop Castle Hill, an intrusive crag, which forms part of the Stirling Sill geological ...

. Forsyth was re-elected in 1987 and 1992 with small majorities of less than a thousand, but lost his seat in

1997 United Kingdom general election The 1997 United Kingdom general election was held on Thursday 1 May 1997. The governing Conservative Party led by Prime Minister John Major was defeated in a landslide by the Labour Party led by Tony Blair, achieving a 179 seat majority. ...

Politics in Scotland

Forsyth campaigned against the

Scottish Parliament The Scottish Parliament ( gd, Pàrlamaid na h-Alba ; sco, Scots Pairlament) is the devolved, unicameral legislature of Scotland. Located in the Holyrood area of the capital city, Edinburgh, it is frequently referred to by the metonym Holyr ...

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 The Scottish National Party (SNP; sco, Scots National Pairty, gd, Pàrtaidh Nàiseanta na h-Alba ) is a Scottish nationalist and social democratic political party in Scotland. The SNP supports and campaigns for Scottish independence from th ...

– 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 The Mull of Kintyre is the southwesternmost tip of the Kintyre Peninsula (formerly ''Cantyre'') in southwest Scotland. From here, the Antrim coast of Northern Ireland is visible on a calm and clear day, and a historic lighthouse, the second ...

, established by the

Secretary of State for Defence The secretary of state for defence, also referred to as the defence secretary, is a secretary of state in the Government of the United Kingdom, with overall responsibility for the business of the Ministry of Defence. The incumbent is a membe ...

. In 2011, Forsyth criticised 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 A leadership election is a political contest held in various countries by which the members of a political party determine who will be the leader of their party. Generally, any political party can determine its own rules governing how and when a l ...

. Forsyth later declared his backing for a rival candidate,

Ruth Davidson Ruth Elizabeth Davidson, Baroness Davidson of Lundin Links (born 10 November 1978), is a Scottish politician who served as Leader of the Scottish Conservative Party from 2011 to 2019 and Leader of the Scottish Conservative Party in the Scottish ...

House of Lords

Forsyth was nominated to the

in 1995, was knighted in 1997 and was raised to the peerage as Baron Forsyth of Drumlean, ''of Drumlean in Stirling'' (Drumlean is a small area near Aberfoyle in the district of Stirling) on 14 July 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 Gideon Oliver Osborne (born Gideon Oliver Osborne; 23 May 1971) is a former British politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 and as First Secretary of State from 2015 to 2016 in the ...

MP. He served as a member of the House of Lords select committee on Economic Affairs from 2007 to 2011. He has also been a member of the joint committee on National Security Strategy and a member of the special select committee on soft power. He was appointed for a second term to the House of Lords' Economic Affairs Committee in 2015 and as its chairman following the election in 2017. In 2021 he was elected as Chairman of the Association of Conservative Peers.

Business career

After leaving the House of Commons Forsyth has undertaken posts in the

City of London The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London f ...

. He joined

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 in ...

as a director of Corporate Finance and, following the bank's sale to

JPMorgan 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, t ...

he became vice-chairman Investment Banking Europe at JPMorgan (1999–2001) and then Deputy Chairman of JPMorgan (2002–05). He joined

International LLP, an investment bank, in 2005 – leaving his post as deputy chairman in March 2012. He was a director of NBNK Investments PLC, and a director and Chairman of Hyperion Insurance Group until its merger with RKH Group in 2015. He is currently Chairman of Secure Trust Bank, and a Director of J&J Denholm Ltd and of Denholm Logistics Ltd.

Philanthropy and personal life

Forsyth married Susan Clough in Cumbria in 1977 and they have three grown-up children. He is the founder of the Pimlico Tree and Preservation Trust, now the Westminster Tree Trust. In 2010 he climbed the highest mountain in Antarctica, Mount Vinson, in support of CINI and Marie Curie Cancer Care, having previously climbed Mount Aconcagua and

Mount Kilimanjaro Mount Kilimanjaro () is a dormant volcano in Tanzania. It has three volcanic cones: Kibo, Mawenzi, and Shira. It is the highest mountain in Africa and the highest free-standing mountain above sea level in the world: above sea level and a ...

, the highest mountains in the Americas and Africa respectively. His charity fund-raising achievements are substantial and include £220,000 for

DebRA Debra is a feminine given name. Debra may refer to: People * Debra Adelaide (born 1958), Australian writer * Debra Allbery (born 1957), American poet * Debra R. Anderson (1949-2022), American politician * Debra Austin (born 1955), American bal ...

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.

Bibliography

*''Reservicing Britain'' (London:

Adam Smith Institute The Adam Smith Institute (ASI) is a neoliberal UK-based think tank and lobbying group, named after Adam Smith, a Scottish moral philosopher and classical economist. The libertarian label was officially changed to neoliberal on 10 October 201 ...

, 1980) *''The Myths of Privatisation'' (London: Adam Smith Institute, 1983)

Arms

References

Bibliography

*Torrance, David, ''The Scottish Secretaries'' (Birlinn 2006)

External links

*
Tax Reform Commission
*Economic Affairs Committee reports published as Chair:
Employment and COVID-19: time for a new deal
(2020)
Universal Credit isn’t working: proposals for reform
(2020)
Social care funding: time to end a national scandal
(2019)
Measuring inflation
(2019)
Treating Students Fairly: The Economics of Post-School Education
2018)
Brexit and the Labour Market
(2017) *Finance Bill Sub-Committee reports published as Chair:
Off-payroll working: treating people fairly
(2020)
The Powers of HMRC: Treating Taxpayers Fairly
(2018)
Making Tax Digital for VAT: Treating Small Businesses Fairly
(2018) , - {{DEFAULTSORT:Forsyth, Michael 1954 births Alumni of the University of St Andrews Secretaries of State for Scotland Scottish Conservative Party MPs Conservative Party (UK) life peers Councillors in the City of Westminster Living people Members of the Privy Council of the United Kingdom Knights Bachelor Members of the Parliament of the United Kingdom for Scottish constituencies People from Montrose, Angus Scottish public relations people UK MPs 1983–1987 UK MPs 1987–1992 UK MPs 1992–1997 Scottish bankers Members of the Parliament of the United Kingdom for Stirling constituencies Life peers created by Elizabeth II