Background
Magniac was born on 15 April 1786 in Colworth, Bedfordshire, the son of Colonel Francis Magniac and Frances Attwood. His father was a French Huguenot goldsmith who exported clocks and watches to China.
- Photos
- Works
- Photos
- Works
Hollingworth Magniac
Edit ProfileCareer
He was instrumental in the formation of Jardine Matheson, and Company, one of the largest trading houses in Asia during the 19th century. He took out Austrian citizenship and gained an appointment as Chinese Consul from the Emperor of Austria. As he now had diplomatic residence rights he no longer needed a licence to trade in Canton from the East India Company.
Other partners in the firm quickly followed this example.
Charles was killed in Paris in 1824 during a trip to Europe. Magniac & Company, founded by Charles in the 18th century, had grown into one of the largest and most prominent of all the China trading houses.
That left Hollingworth in charge but by 1824 (some sources state 1822), the firm was in disarray. Wishing to leave Asia, Hollingworth went in search of competent partners to join his firm.
After an extensive search for a senior partner, Hollingworth settled on Jardine, whose business reputation was already well known throughout Asia.
Magniac and Jardine also invited James Matheson to join the firm. Magniac returned to England in 1828 with the firm in the hands of two of the most talented traders in Asia. Contrary to the practice at the time of retiring partners removing their capital from the firm, Hollingworth left his capital in trust to Jardine and Matheson.
The firm remained as Magniac and Company until 1832, as the name was still formidable throughout China and India.
The partnership was then restructured to become Jardine Matheson and Company which would go on to become the largest trading company in Asia and later a Fortune 500 listed company. Magniac married Helen Sampson, daughter of Peter Sampson, in 1827.
Jardine agreed to make them agents for Jardine Matheson and Company with the proviso "At no time shall it be expedient that we should give up the option of carrying on transactions with other London houses". Death
Magniac died on 31 March 1867 at age 80 in London, England.
He is buried in the Magniac mausoleum in Sharnbrook, Bedfordshire.
Fanny Eliza Magniac (c 1827-1825 May 1903).
Membership
Charles Magniac, Member of Parliament for Saint Ives.
