David Newbigging

Sir David Kennedy Newbigging, OBE, DL (; born 19 January 1934) is a British businessman and Hong Kong politician born in China. He was the Tai-pan of Jardine Matheson & Co, the leading British trading firm in East Asia and unofficial member of the Executive Council and the Legislative Council of Hong Kong.

Family and education Newbigging was born on 19 January 1934 in Tianjin, China to David Locke Newbigging and L. M. Newbigging. David Locke Newbigging was also director of Jardine Matheson & Co and was interned at the Stanley Internment Camp during the Japanese occupation in Hong Kong. For his services for maintaining order during the internment, David Locke was awarded Commander of the Order of the British Empire (CBE) in 1946.

Newbigging was sent aboard and received his education in Canada and was subsequently educated at the Oundle School. After his education, he joined the King's Own Scottish Borderers and was promoted to 2nd lieutenant.

Jardine career

Managing positions He joined Jardine Matheson & Co, the leading British trading firm, in 1954 at the age of 20. He became its director in 1967 and worked in various places including from Hong Kong, Taiwan, China, the United Kingdom, Malaysia and Australia throughout the years. In 1970, he was promoted to managing director in 1970 and was chairman and senior managing director of the firm from 1975 until his retirement in 1983. He was also chairman of the other companies under Jardine, including the Hongkong & Kowloon Wharf & Godown Company from 1970 to 1980, Hongkong Land from 1975 to 1983, Hongkong Electric Holdings between 1982 and 1983 (director 1975–83), and Jardine Fleming Holdings from 1975 to 1983.

Jardine taipan When Newbigging took over from Henry Keswick as the Jardine taipan in 1975, the company was undergoing a rapid decline in power and wealth. Between 1975 and 1979, Jardine Matheson's profits grew at an annual rate of only 10 percent (a poor record for Hong Kong). Newbigging responded by disposing of underperforming Jardine subsidiaries outside Hong Kong. He redoubled efforts to increase trade with China (which had only invited the company back into China in 1979) and resumed investments in Hong Kong-based enterprises. However, due to the lack of expertise, these enterprises lost money in almost every venture.

Personal life Newbigging married Carolyn S. Band in Hong Kong in 1968 and has one son and two daughters. His hobbies include Chinese art and most outdoor sports.