Michael Hintze

Sir Michael Hintze
AM GCSG
Born (1953-07-27) 27 July 1953
Harbin, China
Residence London
Alma mater
Occupation Hedge fund manager
Organization CQS
Net worth
Spouse(s) Dorothy
Children Four
Military career
Allegiance  Australia
Service/branch Australian Army
Years of service 3 years minimum service
Rank Captain

Sir Michael Hintze, AM (born 27 July 1953) is a British-Australian businessman, philanthropist and Conservative Party patron, based in the United Kingdom.

According to the 2016 Forbes magazine list of The World's Billionaires, he was the world's 1,011th richest person, with a net worth of approximately US$1.8 billion;[1][3][4] and according to the Australian BRW Rich 200 Hintze was Australia's 37th wealthiest individual with a net worth of A$1.32 billion in 2016.[5]

Early life

After his grandparents fled from Russia after the 1917 Bolshevik revolution,[4] he was born in the Chinese city of Harbin. After Mao Zedong and the Chinese Communist Party took over power, his refugee parents left for Australia.[3]

Raised by his secretary mother in Sydney, he was educated at the local Christian Brothers school. He then studied at the University of Sydney where he obtained a BSc degree in physics in 1975 and a BE degree in engineering in 1977, residing at St John's College. He also holds an MSc degree in Acoustics from the University of New South Wales, an MBA degree from Harvard Business School, and an Honorary Doctorate of Business from the University of New South Wales.

On graduation, he joined the Australian Army for three years, rising to the rank of captain.[3] Following that, he worked as an electrical design engineer for Civil and Civic Pty Ltd. in Australia.[6]

Career

Moving to New York to train in financial services, he worked for Salomon Brothers as a fixed income trader and at Credit Suisse First Boston. Relocating to London with them, he then joined Goldman Sachs, where his ultimate position was Co-head of the UK Shares Product. He left the firm in 1995.

In 1999 he launched his own asset management firm, CQS,[7] and has been cited in the press as one of the highest paid people in the City of London.[8] Hintze was ranked No. 5 on Financial News' FN100 Most Influential list in the hedge fund category.[9] CQS Asset Management, which has been described as "one of the world's leading credit market players"[10] has assets under management reported at $11 billion.[11] The CQS Directional Opportunities Fund, which is managed by Hintze, was ranked #3 on Bloomberg's list of the 100 top-performing large hedge funds for 2012.[12]

In 2013, Hintze's CQS received awards for the "Best Hedge Fund Manager Overall," "Best Hedge Fund Manager in Credit," and "Best Multi-Hedge Fund Manager" at the Financial News Awards for Excellence in Institutional Hedge Fund Management.[13] CQS was reported to be on the opposite side[14] of the infamous JPMorgan trade by Bruno Iksil, nicknamed the London Whale, in which JPMorgan lost an estimated $2 billion. The total gains by CQS are unknown.[15]

Hintze is credited by veteran economic commentator and journalist Alex Brummer with warning about the state of UK banking, the outlook for the UK housing market, and the scale of toxic-debt on the balance sheets of UK banks.[16]

Professional Appointments

Due to his expertise in global financial markets, Hintze has been tapped to sit on a number of boards and government panels. He was appointed by the Australian Treasury to sit on a four-person International Advisory Panel to support the Financial Systems Inquiry (FSI), which is focused on issues impacting Australia's economy such as technological change, Australia's global competitiveness and offshore regulatory frameworks.[17]

Hintze was appointed by Pope Francis to the board of the Vatican Bank (officially known as the Institute for the Works of Religion).[18] According to ValueWalk, “The addition of Hintze is viewed as a significant positive for the Vatican” due to the fact that he is a “no nonsense manager with deep insight into a broad range of international finance matters.”[19]

In the UK, Hintze was also appointed to serve on the Fair and Effective Markets Review, a joint review by the Treasury, the Bank of England and the Financial Conduct Authority (FCA) focused on raising standards of conduct in the financial system.[20] He also sits on the Finance & Audit Committee of the Duchy of Cornwall.[21]

Farming

In 2007, Hintze established MH Premium Farms (MHPF)[22], a group of agriculture companies based mainly in Australia. MHPF now owns more than 20 properties[23] in eastern Australia, covering a total area of more than 70,000 hectares. The properties offer a broad portfolio including: fat lambs, wool and cattle; broad acre cropping of cereals and oilseeds; irrigated cotton and sugar.

MHPF is managed by a team of agricultural specialists, led by CEO Richard Taylor[24], who graduated from Sydney University with a 1st class honours degree in Veterinary Science in 1987 and has since managed a number of agricultural companies in Australia[25].

The group maintains sustainable production practices and places an emphasis on environmental responsibility[26].

As part of its corporate social responsibility (CSR) efforts, MHPF has also launched an undergraduate scholarship aimed at addressing the shortage of agronomists, and agriculture graduates more generally who may go on to service Australian agriculture[27]. Offered through the University of New England, the scholarship supports a full-time, on-campus student beginning their second year of either an Agriculture or Rural Science degree with an interest in pursuing a career as an agronomist in Australia following graduation and provides recipients with an 8-week work experience placement.

Philanthropy

With his wife Dorothy, Hintze set up the Hintze Family Charitable Foundation, which has given significant and wide-ranging philanthropic support to over 200 causes, focusing mainly on health, education, armed services, culture, and the arts.[3]

In the area of culture and the arts, notable donations include enabling the restoration of Michelangelo's frescoes in the Pauline Chapel at the Vatican and in 2014 donating £5 million to the Natural History Museum, London.[28] The donation to the Natural History Museum [29] is the biggest single donation received by the museum in 133 years (in other words, since 1881 when the Museum opened to the public for the first time). The gift will be used in part to fund programmes to study problems that threaten Earth's biodiversity such as the maintenance of delicate ecosystems and the impacts of environmental pollution, as well as the battle against diseases such as malaria.[30] The museum's Central Hall has since been renamed 'Hintze Hall'.[31]

Projects in culture and the arts have also enabled the refurbishment of the V&A's Sculpture Galleries, named the Dorothy and Michael Hintze Galleries,[32] and have included sponsorship of an iconic exhibition of Raphael's Tapestries from the Sistine Chapel at the V&A, and a £2 million donation to the National Gallery.[33] The donation to the National Gallery has been used in part to fund refurbishment, including the installation of new technology to reduce the gallery's running costs and carbon footprint.[34] Support has also been provided to the British Museum and the National Portrait Gallery. The Hintze Family Charitable Foundation is also listed as a Life Benefactor Donor to the National Theatre.[35] Through CQS and the Hintze Family Charitable Foundation he provided funding to create a 'theatre in the round' at the Old Vic in London, amongst other significant support. He also came to the aid of Wandsworth Museum, which was facing imminent closure by offering a £2 million rescue package.

In the area of health, he co-chaired Clapham's Trinity Hospice campaign for a new in-patient centre which has now been completed. Hintze gave a $1 million gift to the University of Sydney's Charles Perkins Centre, which focuses on turning medical research into viable treatments.[36] He has also provided support to the Evelina Children's Hospital.[37]

His support for the armed services has included donations to The Royal Navy & Royal Marines Charity. Among other initiatives, this has included providing funding to support serving personnel and their families.[38] He has also provided support to the Black Stork Charity to help construct one of the most advanced centres for rehabilitation of injured military personnel in the world.[39]

In education, among major donations, he has established the chair of International Security at the University of Sydney[40] and supported the University of Oxford Centre for Astrophysical Surveys,[41] where the Annual Hintze Lecture has been established.

Funding was provided for the construction of a residential wing at St. John’s College at the University of Sydney, which was named the Hintze Building.[42] Hintze has also donated $1 million to the University of New South Wales (UNSW) for a new lecture theatre.[43] The donation was made in honour of his father, Michael Hintze senior, who is also a UNSW alumnus. Gifts have also been made to Harvard University[44] ($10m) and Princeton University, where a Professorship for the Arts has been established in his wife's maiden name (Dorothy Krauklis)[45].

The Guardian reported that Hintze is a donor to the Global Warming Policy Foundation.[46]

Philanthropic Positions & Recognitions

Hintze currently serves as a trustee of the National Portrait Gallery,[47] the Institute of Economic Affairs, the University of Sydney Trust, as a Member of the Harvard Business School Board of Dean’s Advisors’, and as Senior Vice Patron of the Royal Navy & Royal Marines Charity.[48] He was formerly chairman of the Prince's Foundation for Building Community.

Hintze was formerly a trustee of the National Gallery, where he assisted in securing Titian’s Diana and Actaeon for the nation.[49] He was initially appointed to the National Gallery's Board of Trustees by then Labour Party Prime Minister Gordon Brown in 2008. He was later reappointed by Conservative Party Prime Minister David Cameron.

In recognition of their charitable contributions in support of the arts, Michael Hintze and his wife Dorothy received the Prince of Wales Medal for Arts Philanthropy in 2009.[50]

Hintze was invited to the Chancellor's Court of Benefactors[51] for his support of the University of Oxford.

He was named to the 2017 Debrett’s 500 List, in recognition of his considerable philanthropic contributions in the UK.[52] He was also named to the Evening Standard’s “Progress 1000” list of “London’s most influential people,” citing his philanthropic contributions and business success.[53]

Conservative Party donations

In 2006, at the time of the Cash for Peerages allegations concerning the Labour Party, Hintze voluntarily revealed he was one of the previously anonymous patrons who had made loans to the Conservative Party.[54] In 2011 his known loans and donations to the party totalled around £4 million.[3] In the five months to September 2011 he donated £31,000, enough to grant him membership of the Conservative Treasurers' Group, the second highest rung on the party's donor's ladder, which allows its members access to senior Conservative figures through a series of lunches, receptions and campaign launches.[55]

When the Conservative Party were in opposition, Hintze disclosed that he had donated to George Osborne, David Willetts, Liam Fox, Theresa May, David Davis, Adam Holloway, and Boris Johnson.[3] In addition, CQS made non-cash donations to William Hague, Liam Fox, and George Osborne.[3] In May 2008, David Cameron declared a donation from Hintze to the Conservative Party that was used to pay for drinks receptions for Tory MPs and their partners.[56] In March 2008, Hintze paid for a private jet to ferry Cameron and Osborne from Newcastle to Biggin Hill after the Conservative Party conference.[3]

In October 2011, it was revealed that Adam Werritty, a close friend and business associate of then Secretary of State for Defence Liam Fox, was provided with a free desk by Hintze at CQS's London base as part of his £29,000 donation to Fox's charity The Atlantic Bridge.[4][57] Hintze also supplied a private jet for Fox and Werritty to fly from the United States to London in May 2011.[58] These disclosures led to the resignation of Liam Fox (who was then Secretary of State for Defence) and the dismissal of Hintze's then-charity adviser, Oliver Hylton.[59]

Honours

He was made a Knight Commander of the Papal Order of St. Gregory (KCSG) by Pope Benedict XVI in 2005[60] and was later was elevated to a Knight Grand Cross of the same Order (GCSG).

In January 2013, Hintze was appointed Member of the Order of Australia (AM) for his "significant service to the community through philanthropic contributions to organisations supporting the arts, health and education."[61]

He was knighted in the United Kingdom's 2013 Birthday Honours for services to the arts.[62][63] He received his accolade on 23 October 2013 by The Prince of Wales at Buckingham Palace.

Personal life

Married to American citizen Dorothy, whom he met at Harvard,[64] the couple have four children, partially educated at British private schools.[3] Hintze is a Roman Catholic.[65]

Wealth rankings

Year BRW
Rich 200		 Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2011[66][67] $0.614 billion Increase 15 Decrease $1.40 billion Increase
2012[68][69] 40 $0.81 billion Increase 16 Decrease $1.40 billion Steady
2013[70][71][72] 43 Decrease $0.86 billion Increase 16 Steady $1.55 billion Increase
2014[73][74][75] 23 Increase $1.37 billion Increase 15 Increase $1.70 billion Increase
2015[76][77] 21 Increase $1.75 billion Increase 15 Steady $1.90 billion Increase
2016[1][5] 37 Decrease $1.32 billion Decrease 13 Increase $1.80 billion Decrease
2017[78][79] 24 Increase $1.98 billion Increase 17 Decrease $2.3 billion Increase
2018[80][79] 22 Increase $2.56 billion Increase
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

References

  1. 1 2 3 "Michael Hintze". Forbes. 2016. Retrieved 9 June 2016.
  2. ↑
  3. 1 2 3 4 5 6 7 8 9 Gladdis, Keith; Martin, Arthur; Pendlebury, Richard (18 October 2011). "Hedge fund baron Hintze – sugar daddy to Cameron and Co". Daily Mail. London. Retrieved 18 October 2011.
  4. 1 2 3 Ross, Tim (18 October 2011). "Michael Hintze: the millionaire Tory donor who once said: the more you give, the more you get". London: The Telegraph. Retrieved 18 October 2011.
  5. 1 2 Stensholt, John, ed. (27 May 2016). "BRW Rich 200 list 2016". Financial Review. Australia. Retrieved 9 June 2016.
  6. ↑ www.michael-hintze.com https://michael-hintze.com/bio/. Retrieved 9 January 2018. Missing or empty |title= (help)
  7. ↑ "CQS - CQS is a global multi-strategy asset management firm". Cqscapital.com. Retrieved 2016-06-30.
  8. ↑ "Hedge fund boss with a '£60m pay packet'". This is money.
  9. ↑ "Financial News FN100 Most Influential List". eFinancial News.
  10. ↑ "CQS warns over housing market and economy". Financial Times. 27 January 2010. Retrieved 14 June 2012.
  11. ↑ "Archived copy". Archived from the original on 23 December 2011. Retrieved 14 June 2012.
  12. ↑ "The 100 Top-Performing Large Hedge Funds". Bloomberg. 3 January 2013. Retrieved 2016-06-30.
  13. ↑ "Hat-trick for CQS at FN Hedge Fund Awards". Financial News. 4 June 2013.
  14. ↑ "Hedge funds eye further profits from JPMorgan losses". The Economic Times. 15 May 2012. Retrieved 14 June 2012.
  15. ↑ Fletcher, Laurence; Wilkes, Tommy. "Hedge funds eye further profits from JPMorgan losses", Reuters, 15 May 2012. Accessed 12 July 2016.
  16. ↑ Brummer, Alex (11 August 2011). "Euro banks facing a crunch". This is Money/Daily Mail. Retrieved 14 June 2012.
  17. ↑ "Michael Hintze to join Financial Systems Inquiry". Financial Standard. Retrieved 1 September 2014.
  18. ↑ "New Economic Framework for the Holy See". Vatican Information Service. 9 July 2014. Retrieved 13 July 2014.
  19. ↑ "As Hintze Tapped For "Gods Work," CQS Funds Perform". ValueWalk. Retrieved 1 September 2014.
  20. ↑ "Fair and Effective Markets Review announced by Chancellor of the Exchequer". Gov.uk. Retrieved 1 September 2014.
  21. ↑ www.michael-hintze.com https://michael-hintze.com/bio/. Retrieved 9 January 2018. Missing or empty |title= (help)
  22. ↑ MH Premium Farms http://mhpremiumfarms.com/. Retrieved 27 July 2017. Missing or empty |title= (help)
  23. ↑ "Properties". MH Premium Farms. Retrieved 27 July 2017.
  24. ↑ "Team: Richard Taylor". MH Premium Farms. Retrieved 27 July 2017.
  25. ↑ "Prime Movers: Growth Farm founders Richard and Angus Taylor see positive future". The Weekly Times. Retrieved 27 July 2017.
  26. ↑ "CQS chief plows his support into sustainable farm management". Pensions & Investments. Retrieved 27 July 2017.
  27. ↑ University of New England http://www.une.edu.au/alumni/give-to-une/scholarships. Retrieved 27 July 2017. Missing or empty |title= (help)
  28. ↑ "Natural History Museum receives £5m donation". BBC News. Retrieved 2016-06-30.
  29. ↑ "BBC, 8 May 2014 "Natural History Museum receives £5m donation"". Retrieved 27 June 2014.
  30. ↑ "Natural History Museum, 8 May 2014 "The Natural History Museum receives £5 million donation"". Archived from the original on 27 June 2014. Retrieved 27 June 2014.
  31. ↑ "Dippy the Natural History Museum diplodocus could be moved". Telegraph.co.uk. Retrieved 2016-06-30.
  32. ↑ "Victoria & Albert Museum Sculpture Galleries". Retrieved 2017-06-19.
  33. ↑ "Philanthropy UK, 28 January 2011 "Hintze Family Foundation donates £2m to National Gallery"". Retrieved 14 June 2012.
  34. ↑ Brown, Mark (20 January 2011). "The Guardian, 20 January 2011 "Hedge fund founder Michael Hintze donates £2m to National Gallery"". London.
  35. ↑ "Archived copy". Archived from the original on 29 July 2012. Retrieved 29 October 2014.
  36. ↑ "Three major donations take University of Sydney $16 million closer to $600 million fundraising goal". Sydney.edu.au. 2013-05-04. Retrieved 2016-06-30.
  37. ↑ Blackhurst, Chris. "Interview: Sir Michael Hintze, CQS Hedge Fund - charity is a way of life for accomplished money-maker who enjoys giving it away". Evening Standard. Retrieved 9 January 2018.
  38. ↑ "Sir Michael Hintze to donate £500,000 to the Navy's charity". UK Fundraising. Retrieved 2017-05-16.
  39. ↑ DNRC https://www.thednrc.org.uk/whats-happening-on-now/we-are-fundraising/how-have-we-got-there.aspx. Retrieved 9 January 2018. Missing or empty |title= (help)
  40. ↑ "CENTRE FOR INTERNATIONAL SECURITY STUDIES". University of Sydney. Retrieved 9 January 2018.
  41. ↑ "Oxford Centre for Astrophysical Surveys". Retrieved 2017-06-19.
  42. ↑ "History - St John's College". stjohnscollege.edu.au. Retrieved 2017-05-16.
  43. ↑ Steve Offner (2013-09-13). "Sir Michael Hintze's $1 million gift | UNSW Newsroom". Newsroom.unsw.edu.au. Retrieved 2016-06-30.
  44. ↑ "Donors and Their Gifts". Harvard.
  45. ↑ "Supporters". Lewis Center for the Arts - Princeton. Retrieved 27 July 2017.
  46. ↑ Readfearn, Graham (27 March 2012). "Michael Hintze revealed as funder of Lord Lawson's climate thinktank". The Guardian. London, UK. Retrieved 27 March 2012.
  47. ↑ "Prime Minister Appoints Sir Michael Hintze, Björn Savén, Sir Peter Stothard and Rachel Wang as Trustees of the National Portrait Gallery". gov.uk. Retrieved 3 April 2017.
  48. ↑ "SENIOR VICE PATRON - SIR MICHAEL HINTZE AM". Royal Navy & Royal Marines Charity. Retrieved 9 January 2018.
  49. ↑ "Diana and Actaeon". nationalgallery.org.uk. Retrieved 2017-05-16.
  50. ↑ "Archived copy". Archived from the original on 1 August 2012. Retrieved 21 August 2012.
  51. ↑ "University of Oxford". campaign.ox.ac.uk. Retrieved 2017-06-19.
  52. ↑ "Debrett's 500 List: Philanthropists & Activists". Telegraph. Retrieved 9 January 2018.
  53. ↑ "The Progress 1000: London's most influential people 2017 - Capitalisers: Business". Evening Standard. Retrieved 9 January 2018.
  54. ↑ "Iain Dale'S Diary: Exclusive: Loan Tory Chooses This Blog To Go Public". Iaindale.blogspot.com. 2006-03-25. Retrieved 2016-06-30.
  55. ↑ Oldroyd, Rachel; McClenaghan, Maeve (17 October 2011). "George Osborne gets almost twice that of Liam Fox from Michael Hintze". Retrieved 18 October 2011.
  56. ↑ Stratton, Allegra. "Short-sellers are revealed as substantial party donors", The Guardian, 28 September 2008. Accessed 12 July 2016.
  57. ↑ "Liam Fox on the run in storm over ex-flatmate 'adviser'". Mirror. 9 October 2011. Retrieved 11 October 2011.
  58. ↑ Watt, Holly (11 October 2011). "Liam Fox's friend Adam Werritty linked to Conservative donor". The Daily Telegraph. London.
  59. ↑ Readfearn, Graham (27 March 2012). "Michael Hintze revealed as funder of Lord Lawson's climate thinktank". The Guardian. Retrieved 8 June 2014.
  60. ↑ "Sir Michael Hintze AM". Advance.org. Retrieved 2016-06-30.
  61. ↑ "Australia Day Honours List 2013". The Australian. 26 January 2013.
  62. ↑ "No. 60534". The London Gazette (Supplement). 15 June 2013. p. 1.
  63. ↑ "Birthday Honours List 2013" (PDF). HM Government. 14 June 2013. Retrieved 14 June 2013.
  64. ↑ "Dorothy E. Krauklis Is Married to Michael Hintze", The New York Times, 15 July 1984. Accessed 12 July 2016.
  65. ↑ Shakespeare, Sebastian (26 February 2014). "Billionaire Tory donor pulls plug on Cameron". Daily Mail. London. Retrieved 26 February 2014.
  66. ↑ "Passport Power". BRW Rich 200 Wealth Index. Australia. 25 May 2011. Archived from the original on 10 November 2012. Retrieved 2 June 2012.
  67. ↑ "2011 Australia's 40 Richest". Forbes Asia. 2 February 2011. Retrieved 8 February 2011.
  68. ↑ Stensholt, John, ed. (23 May 2012). "The list - BRW Rich 200 2012". Financial Review. Australia. Retrieved 9 June 2016.
  69. ↑ "2012 Australia's 40 Richest". Forbes Asia. 1 February 2012. Retrieved 3 June 2012.
  70. ↑ Stensholt, John, ed. (May 2013). "BRW Rich 200 List 2013". Financial Review. Australia. Retrieved 9 June 2016.
  71. ↑ "Gina Rinehart tops Forbes' Australian rich list". The Australian. AAP. 31 January 2013. Retrieved 9 June 2015.
  72. ↑ "2013 Australia's 50 Richest". Forbes Asia. 1 February 2013. Retrieved 23 May 2013.
  73. ↑ Stensholt, John, ed. (27 June 2014). "BRW Rich 200 List 2014". Financial Review. Australia. Retrieved 9 June 2016.
  74. ↑ Rollason, Adam (30 January 2014). "Rinehart on top, Palmer down on Forbes rich list". Financial Review. Australia. Retrieved 9 June 2015.
  75. ↑ "2014 Australia's 50 Richest". Forbes Asia. January 2014. Retrieved 30 June 2014.
  76. ↑ Stensholt, John, ed. (May 2015). "BRW Rich 200 List 2015". Financial Review. Australia. Retrieved 9 June 2016.
  77. ↑ "2015 Australia's 50 Richest". Forbes Asia. March 2015. Retrieved 10 June 2015.
  78. ↑ "BRW Rich 200 List 2017". Retrieved 8 August 2018.
  79. 1 2 "2017 Australia's 50 Richest". Retrieved 8 August 2018.
  80. ↑ "AFR Rich List 2018". Retrieved 8 August 2018.
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