Bernard Clive Pearson
Major the Hon. Bernard Clive Pearson | |
|---|---|
| Born | 12 August 1887 Kensington, London, England |
| Died | 22 July 1965 Worthing, Sussex, England |
| Education | Rugby School Trinity College, Cambridge |
| Occupation(s) | Founder, British Airways Ltd Chairman, S. Pearson & Son (1927–1954) Chairman, Whitehall Securities Chairman, BOAC (1940–1943) |
| Spouse | Hon. Alicia Mary Dorothea Knatchbull-Hugessen (m. 1915) |
| Children | 3 |
| Parent(s) | Weetman Pearson, 1st Viscount Cowdray Annie Pearson, Viscountess Cowdray |
Bernard Clive Pearson (12 August 1887 – 22 July 1965), commonly known as Clive Pearson, was an aviation executive and British industrialist.[1] As chairman of S. Pearson & Son from 1927 to 1954, Clive played a major role in British aviation history, establishing British Airways Ltd in 1935 and serving as a wartime chairman of the British Overseas Airways Corporation (BOAC) from 1940 until 1943.[2] He also steered S. Pearson & Son through major crises, including a rescue of Lazard Brothers and Co. and the nationalisation of several assets owned by S. Pearson & Son during World War II.
Early life and education
[edit]Clive was born in Kensington, the second son of industrialist Weetman Pearson, 1st Viscount Cowdray and Annie Pearson, Viscountess Cowdray. He attended Rugby School and Trinity College, Cambridge, graduating BA in engineering in 1908.[3]
Military service
[edit]During the First World War, Clive was commissioned into the Sussex Yeomanry, reaching the rank of major.[3]
S. Pearson & Son and Whitehall Securities Chairman
[edit]Clive became chairman of the family firm in 1927, after the death of his father.[4] He also subsequently became chairman of Whitehall Securities, the company formed by his father to be the family company's investment arm.
At the time that Clive became Chairman, S. Pearson & Son was already a diverse conglomerate beyond its civil engineering origins, and subsequent oil based-funding, having interests in publishing, steel, electricity and finance.
Lazard Brothers Rescue
[edit]In 1931, Clive led a critical financial rescue of merchant bank Lazard Brothers & Co., in which S. Pearson & Son held a prior 50% stake.[5] The London-based bank faced bankruptcy following fraud at its Brussels office, where a Czech trader had concealed losses of £5.85 million through unauthorised foreign exchange speculation.[6] When confronted, the trader committed suicide, leaving Lazard Brothers technically insolvent with liabilities nearly twice its stated capital. Over a weekend of intensive negotiations with the Bank of England, Clive secured emergency financing to prevent the bank's collapse on Monday morning.[6] The rescue package required Clive to pledge all of S. Pearson & Son's assets as collateral for a £3 million Bank of England loan at penalty rates, while additional funding came from Lazard's Paris and New York houses and UK tax refunds. The Bank of England considered the rescue essential to prevent panic in the City of London, given Lazard's status as a prestigious Accepting House (a bank authorised to accept bills of exchange).[6]
As a result of the rescue, S. Pearson & Son's ownership of Lazard Brothers increased from 50% to 80%. This stake remained a significant asset for the Pearson Group until its sale in 1999 for £410 million.[7]
Civil aviation
[edit]Formation of British Airways Ltd
[edit]As chairman of Whitehall Securities, Clive consolidated several nascent airline companies. In 1935, he merged Hillman's Airways, Spartan Air Lines and United Airways to create British Airways Ltd, Britain’s leading privately funded airline before the war.[2] British Airways Ltd was further expanded following the acquisition of British Continental Airways and Crilly Airways. British Airways Ltd primarily served European flights, while the state-sponsored Imperial Airways focused on British Empire routes.
Separately, Clive purchased two Scotland-based airlines, Northern & Scottish Airways and Highland Airways, merging them into a new company called Scottish Airways in 1937.
Munich Crisis flights
[edit]During the Munich Crisis in September 1938, Clive's British Airways Ltd provided aircraft for Prime Minister Neville Chamberlain's unprecedented diplomatic flights to meet Adolf Hitler. On 15 September 1938, Chamberlain flew from Heston to Munich aboard a British Airways aircraft for his meeting with Hitler at Berchtesgaden, marking the first time a British Prime Minister had flown on official business.[8] Following his return from a second visit to Hitler, Chamberlain wrote to Clive on 25 September 1938, thanking him for the "excellent travelling arrangements made by British Airways" and praising the "speed, safety and comfort" of the flights, noting his gratitude as "an inexperienced air-traveller" for what he "had not previously thought possible."[3]
Chairman of BOAC
[edit]The British Overseas Airways Act 1939 nationalised both British Airways Ltd and Imperial Airways and merged these two companies to become the British Overseas Airways Corporation (BOAC). Clive became BOAC’s chairman on 1 April 1940, having been deputy chairman from its inception.[2]
As BOAC's second wartime chairman, Clive led the airline under severe government constraints that subordinated commercial operations to military needs, with the RAF having first call on all aircraft and personnel.[2] During his tenure, BOAC maintained essential air links including the critical route established in June 1940 that kept Britain connected with Australia via Africa after the Mediterranean was closed to air traffic.
Clive, along with most of the other civilian BOAC directors, resigned in March 1943 when BOAC was placed under RAF Transport Command.[9]
Historic Estates
[edit]In 1921, Clive's father, Weetman Pearson, 1st Viscount Cowdray, purchased the mostly derelict Castle Fraser, a grand baronial castle in Aberdeenshire, and gave it to Clive as a renovation project. Clive restored the castle and then gave it to his second daughter, Lavinia.[10]
In 1922, Clive bought Parham House & Gardens, an Elizabethan country house in West Sussex, opening the house to the public in 1948 after extensive renovations.[11] Parham was one of the first private houses in England to open formally to visitors.[12]
Personal life and legacy
[edit]On 14 October 1915, Clive married Alicia Mary Dorothea Knatchbull-Hugessen, daughter of Edward Knatchbull-Hugessen, 1st Baron Brabourne.[3] They had three daughters:
- Veronica Pearson (1916–1993), who married Marcus Rueff in 1940. Marcus died in action in 1941. Veronica married Patrick Tritton in 1950.[13] Veronica inherited Parham and lived there until her death.
- Lavinia Pearson (1919–1991), who married Major Charles Michael Smiley and was the mother of Miranda Guinness, Countess of Iveagh. Lavinia was the author and illustrator of a number of children's books.[13]
- Elisabeth Dione Pearson (1920–2012), who married Patrick Gibson, Baron Gibson and was later Lady Gibson.
Clive died at Worthing on 22 July 1965 and was buried at St Peter’s Church, Parham.[1]
References
[edit]- ^ a b "Obituary: Major the Hon. B. C. Pearson". The Times. 23 July 1965. p. 14. Retrieved 9 June 2025 – via The Times Digital Archive.
- ^ a b c d "British Overseas Airways Corporation 1940–1950 and its legacy" (PDF). Royal Aeronautical Society.
- ^ a b c d Jolliffe, John (1992). Clive Pearson: A Life, 1887–1965. Michael Russell Publishing. ISBN 0859551849.
- ^ "S. Pearson & Son Ltd – Archive summary". Science Museum Group. Retrieved 9 June 2025.
- ^ "Our History". Lazard. Retrieved 9 June 2025.
- ^ a b c Cohan, William D. (2007). The Last Tycoons: The Secret History of Lazard Frères & Co. Doubleday. ISBN 978-0-385-51845-1.
- ^ Treanor, Jill (25 June 1999). "Lazard directors split £100m in pay and perks". The Guardian. Retrieved 9 June 2025.
- ^ Ricks, Thomas E. (17 May 2013). "Chamberlain's 1st trips in an airplane were the 'Munich' flights of Sept. '38 — and where was Guy Burgess after Munich?". Foreign Policy. Retrieved 9 June 2025.
- ^ "British Overseas Airways Corporation". Parliamentary Debates (Hansard). Lords. 12 May 1943. Retrieved 9 June 2025.
- ^ "Castle Fraser". Undiscovered Scotland. Retrieved 10 June 2025.
- ^ "Parham House – History". Parham House.
- ^ "Parham House – In times of adversity". Parham House.
- ^ a b Smiley, Lavinia (1981). A Nice Clean Plate: recollections, 1919-1931. London: Salisbury. ISBN 0859550826. Retrieved 10 June 2025.