George Magan, Baron Magan of Castletown
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|George M. Magan|
November 14, 1945 |
|Net worth||£60 million|
George Morgan Magan, Baron Magan of Castletown (born 14 November 1945) is a Conservative member of the House of Lords of the United Kingdom. He comes from an Anglo-Irish family, and is the son of the late Brigadier Bill Magan, who served as a director at MI5. He was educated at Winchester College and then became a Chartered Accountant.
Magan has been the Conservative Party's Treasurer since 2003 and is the Deputy Chairman of the Conservative Foundation. The Sunday Times Rich List conservatively estimates his net worth to be at £60 million. However it was stated that Magan made more than £20m when he agreed to a takeover of Hambro Magan by Natwest Markets, in 1995. At the height of the bull market, he was worth up to £200m.
Magan was one of the founders of Hambro Magan, and is now a minority partner in private equity firm Rhone Group. He is a Director of a number of other companies involved in the investment banking and private equity sector including Morgan Shipley and Allied Investment Partners. Magan also serves on a number of international boards which include the Advisory Board for Ardian (formerly AXA Private Equity), the Advisory Board for Abdul Latif Jameel Group (automotive distributor and real estate company, Jeddah, Saudi Arabia) and as a Financial Adviser for Emaar Properties PJSC (real estate development company, Dubai). Magan is also a Director of Emuse Technologies, Synergy Insurance Holdings and the Sisk Group.
Magan is involved in raising funds for the National Society for the Prevention of Cruelty to Children and from 1996 to 2001, he was a trustee of the Royal Opera House.
House of Lords
On 25 January 2011, he was created a life peer as Baron Magan of Castletown, of Kensington in the Royal Borough of Kensington and Chelsea, and he was introduced in the House of Lords on 27 January 2011, where he sits as a Conservative.
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