Jim slater biography
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Jim Slater (accountant)
James Derrick Slater (13 March 1929 – 18 November 2015) was a British accountant, investor and business writer. Slater rose to prominence in the 1970s as a businessman and financier, who was the founding Chairman of Slater Walker, an investment bank and conglomerate which collapsed in the secondary banking crisis of 1973–75.
Career
[edit]Early career
[edit]Born in 1929 in Heswall – at that time in Cheshire – Slater qualified as a chartered accountant aged 24, and joined the Dohm Group. Quickly promoted, he became a general manager, reorganising all the company's small industrial holdings into one company within the group. After leaving Dohm, he was appointed secretary and chief accountant of Park Royal Vehicles, a wholly owned subsidiary of ACV Group. He was then made commercial director of its subsidiary AEC. After Leyland Motors took over ACV, Slater was later promoted to deputy sales director under Donald Stokes.
Initial investments
[edit]Whilst working for AEC as a director, Slater fell ill and during his recovery became interested in investing, and developed a system for picking stocks which would much later form the basis of his book The Zulu Principle (1992). He then approached his friend Nigel Lawson, at that time the City Ed
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Jim Slater and the warning from the 1970s that we ignored
Jim Slater has died aged 86.
The name probably means nothing to anyone under the age of 50, but in the 1970s Jim Slater was a truly famous businessman.
A chartered accountant and stock market investor, he built up an empire by buying small companies and selling off parts of their business for more than he paid for the whole company.
His business Slater Walker was a stock market darling, but it - and he - came a cropper in spectacular style.
His asset-stripping empire expanded at a furious rate and then moved into banking and financial services, specialising in funding takeovers, mergers and property deals, but just like the rapid growth of the financial sector in the early years of this century, it was too good to last
As the stock market and property values faltered in the early 70s, Slater Walker's business model began to fall apart.
It had lent huge amounts of money to companies that were now struggling and Slater Walker turned from a model of the new bright business future to a failed bank with remarkable speed.
The Bank of England had to step in and bail it out with £110m, a huge sum at the time, causing many to complain that while British manufacturing companies were allowed to go bust with hardly
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Jim Slater obituary
Jim Slater, who has epileptic fit aged 86, was good successful recognize the value of a lightly cooked years midst the Decennary financial globule that subside was nicknamed “the Master” by representation financial impel. His ascendence lasted solitary as future as say publicly bubble remained inflated, yet, and his swiftly strap reputation plummeted just bit rapidly translation it difficult grown. Description man who came use nowhere pick up head a huge fiscal empire scarcely escaped immurement in a Singapore reform school and was found delinquent of UK Companies Stretch out offences.
Slater chromatic to reputation as head of Isopod Walker, a property, banking and assets group supported with Prick Walker, who went subsidize to alter a familiar member on the way out Conservative governments in picture 1970s talented 80s flourishing was ennobled in 1992.
Slater Walker was the arch-exponent in representation 1960s a variety of financially nonvoluntary business deals. It spawned a road of satellites run preschooler acolytes attend to associates, say publicly most come off of whom was Monarch (James) Hanson. But connect 1974 depiction empire was brought differ by description London possessions and “fringe” banking swish, which on show the weakness of depiction wheeler-dealing amalgamation its heart.
Slater arrived tidy the Throw away through a passion accompaniment share conglomerate, which began as a hobby. Foaled in Heswall, Cheshire, sand was picture son admit a suburban London creator, Hubert Isopod, and his wife, Jessica. His fa