Britain: The Daring & the Elite

"The big fish don't often pass," explained Britain's Viscount Bearsted, "and you grab them when you can." Last week Lord Bearsted hooked a notably big one—to become his own successor as chairman of Hill, Samuel & Co., Ltd., the largest of London's merchant banks in terms of capital, securities underwriting and profits. His prize catch was Baron Sherfield, 62, the former Sir Roger Makins, ex-barrister, able economist, gentleman-farmer, career diplomat and onetime (1953-56) Ambassador to the U.S.

Half the Ark. Lord Sherfield has a reputation for smoothing out arguments, whether between nations,...