Dictum meum pactum is the motto of the LSE. No, not the London School of Economics but the London Stock Exchange. One stock broker, a leading partner is a firm trading on the LSE, promised his colleagues that their jobs would be safe after a takeover. Sadly he could not deliver this under the terms of the merger and management agreements. He felt that as he had broken his word, he could no longer live with himself, the shame, the ignomy of not holding to Dictum Meum Pactum. He took his revolver, a souvenir of WW2, and shot himself. He had helped a young office boy, who lost his father at the age of ten, who worked hard and showed great potential. When this young man was twenty one this senior partner paid for him to become a member of the London Stock Exchange, which was 1k sterling in 1961. The senior partner also mentored him as a dealer and was very generous when he got married later in the year. It was therefore a great shock when the young broker heard the news of the suicide, the death of a father figure, adviser, man of great integrity and honour. He wanted to repay, to give something back, to achieve, to do something for Bobby Shaw, of Kitchen, Baker and Shaw. And he did by working hard, showing dedication, ambition and commitment above and beyond the average, the norm, the mediocrity and safety first mentality. He had a purpose. He became a highly successful stock broker. One could say it was one for the Gipper. He would keep his word, even if it cost him financially and a better deal could have been won. If he said it, then his word was enough, sure and certain. His word was his bond. This working practice, the high ethical standards, with the necessary talent and financial acumen won him valuable clients. Needless to say he became very successful, weathly and wise, trusted for his honesty, integrity and word of honour. When he died many attended his funeral. Some travelled great distances to pay their respects. He was remembered as a man of his word, who had been a success for Bobby Shaw.
Thursday, 27 August 2026
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Dedham
River Stour
2 comments:
In 1965 , Kitchen, Baker and Shaw broke up and the death of a key partner was noted. The Economist covered the demise of this firm briefly.
Sometimes wealthy does not go with healthy. Sadly this successful stockbroker died before he reached four score and ten. Health is more precious than riches. Spiritual wealth and health are eternally precious, eternally valuable. Mark 8:36 and Matthew 16:26.
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