An Establishment Man: R.I.P. Victor Sandelson, 1928-2017


I was saddened to see in The Times that my family friend Victor Sandelson has died.

My memories of Victor are mainly from my childhood at Fiske & Co’s old summer parties on the Pavilion Terrace at the Palace of Westminster. He was one of my father’s Cambridge friends and you always could find him chatting, cigarette balanced delicately between upturned fingers (with a portable solid gold ashtray in the other hand), staring down at waters of The Thames, his words drifting between subjects with his friends, medicine or the sea with our GP Sir Nigel Southward (then Apothecary to the Royal Household and later Vice Commodore of the Royal Yacht Squadron), business or horses with Sir Martyn Arbib (then owner of both Invesco Perpetual and racehorses like Snurge who won the St Leger) or history and politics with the Marquess of Ailesbury (then a member of both the House of Lords and the board of Fiske.)

Victor’s brother Neville had been a Member of Parliament, one of the infamous Labour MPs who helped set up the Social Democratic Party, SDP, and then defected to it in 1981. Victor would always speak of his brother as “the clever one”, even though it was he had been invited back to Cambridge University to teach. Older than my father, he had poached him Sandelson & Co from Panmure’s (with David Cameron’s father Ian), until my father left for Fiske, a briefly acrimonious split which got them both in the pages of Private Eye more than once.

My fondest memory of Victor, though, is one of intellect and generosity at a dinner party of my parent’s in Eaton Square when I was twenty. I just had just begun my Philosophy, Politics and Economics (PPE) degree course at Oxford and while researching some essay or other I had come across Hugh Thomas’s 1959 book of essays The Establishment. Lord Thomas is now better known as a historian of Spain, but in those days he was a noted journalist and had coined the phrase “The Establishment” in 1954. He’d asked Victor to contribute a chapter on The City, and with characteristic wit Victor had titled it ‘The Confidence Trick.’

More than the content of the piece I remember his delight that it was still being read almost four decades later, and after I brought it up we spent a memorable evening in a discussion which began with finance, moved on to the nature of power and elites, and then and ranged everywhere from the philosophy of fin de siècle Vienna to the fate of the Jews in Europe in the 20th century – Victor was proudly a Jewish English gentleman.

Most of all from that night, I came away with a realisation that discussions of great depth could also be carried out with humour and charm if you possessed his particular lightness of touch, something I have still yet to master. This was further reinforced by my return Oxford a few days later, where I found a handwritten letter waiting at the Porter’s Lodge of my college thanking me profusely for my company at dinner and containing a book token for £100 so that I could buy at least a few of the many he had mentioned in passing. It was a gesture which I have never forgotten.

The world is less without him.

Alexander Fiske-Harrison

EVENING STANDARD: Clive’s 50 Not Out In The City

It makes me particularly proud to see that my father’s 50th anniversary in the City of London is makes headlines courtesy of the City Editor of the capital’s great newspaper.

Evening Standard

CLIVE’S 50 NOT OUT IN THE CITY

Anthony Hilton
26th September 2012
Clive Fiske Harrison, with his then fiancée, now wife, Barbara Gail Horne, at The May Fair Hotel in London during his first year in the City, 1963, after his return from New York

Clive Fiske Harrison, with his then fiancée – now wife – the sculptor Barbara Gail Horne, at The May Fair Hotel in London during his first year in the City, 1963, after his return from New York (Photo: family archive placed in public domain)

Today saw the annual general meeting of Fiske & Co, the stockbroker and investment bank.

It also marks the day 50 years ago when Fiske’s chairman, Clive Fiske Harrison, joined Panmure Gordon, then one of the leading brokers. A fellow junior colleague in Panmure at that time was David Mayhew. He, like Fiske Harrison, has survived the intervening years of change rather better than has Panmure. (Mayhew stood down as chairman of J. P. Morgan Cazenove at the end of last year.)

In those relaxed days, the market opened at 9.30am, the partners drank gin or whisky (starting often not much later) and the office workers beer. Hardly anybody drank wine. This was of course before the 1970s market collapse, 1980s Big Bang and 1990s explosion of regulation.

But some things haven’t changed, Fiske Harrison told his shareholders. When he started in 1962, Greek bonds traded at the equivalent of 30p in the pound!

Well done, Clive! I doubt there are many of the current City take who will match your half century.