Editing Brian Souter (section)

==Life and career==

===Childhood  and education===

Souter was born in the Scottish city of [[Perth, Scotland|Perth]]. His father was a bus driver and as a child Brian often travelled on bus routes with his father.<ref name=radionz>[http://www.radionz.co.nz/national/programmes/ninetonoon/audio/20157668/entrepreneur-and-founder-of-stagecoach,-sir-brian-souter intervoew] on [[Radio New Zealand]], 18 November 2014</ref>
At school he developed an interest in economics and accounts, about which he later said, "Changing my timetable from maths to include economics and accounts was one of the best things I've ever done."<ref>{{cite web|url=http://www.briansouter.com/biography/childhood.aspx |title=Childhood |publisher=Briansouter.com |access-date=25 October 2013}}</ref>

On leaving school, he studied at the Dundee Institute of Technology (which became [[Abertay University]] in 1994) to become a commerce teacher.<ref name=Abertay>{{cite news|url=https://www.independent.co.uk/student/into-university/az-uni-colleges/abertay-university-dundee-458847.html |archive-url=https://web.archive.org/web/20111027205541/http://www.independent.co.uk/student/into-university/az-uni-colleges/abertay-university-dundee-458847.html |url-status=dead |archive-date=27 October 2011 |title=Abertay University, Dundee - A-Z Unis & Colleges - Getting Into University |newspaper=The Independent |date=1 May 2011 |access-date=5 February 2012 |location=London}}</ref> On completion he studied at [[Strathclyde University]] in [[Glasgow]], where he graduated with a CA Diploma in Accountancy and Economics. Following his graduation, Souter became a [[Institute of Chartered Accountants of Scotland|Chartered Accountant]] at [[Arthur Andersen]] & Co.{{cn|date=December 2024}}

===Stagecoach===

[[File:Stagecoach in Manchester bus 19067 (MX56 FSY), 25 July 2008.jpg|thumb|[[Stagecoach Manchester]] bus]]

Using his father's [[Redundancy (law)|redundancy]] money, with his sister [[Ann Gloag]] and his brother-in-law [[Robin Gloag]] he established the [[Stagecoach Group]] in 1980, running buses from [[Dundee]] to London.<ref name="BBC21January2000">{{cite news|url=http://news.bbc.co.uk/1/hi/uk/612409.stm |title=Brian Souter: Stagecoach's straightman |work=BBC News |date=21 January 2000 |access-date=5 February 2012}}</ref> Following the [[Bus deregulation in Great Britain|deregulation of bus services in Great Britain]], expansion continued, and in the late 1980s Stagecoach acquired [[National Bus Company (UK)|National Bus Company]] subsidiaries in Cumberland and [[Stagecoach South|Hampshire]], and the East Midlands, [[Ribble Motor Services|Ribble]], [[Southdown Motor Services|Southdown]] and [[United Counties Omnibus|United Counties]] companies. Stagecoach also bought bus operations in Scotland, [[Stagecoach North East|Newcastle]] and [[Stagecoach London|London]], with [[Stagecoach Manchester|Manchester]] being added a few years later.<ref name=magicbus>{{cite web|url=http://www.briansouter.com/biography/uk-bus-deregulation.aspx |title=Bus History &#124; Magicbus &#124; National Bus |publisher=Brian Souter |access-date=5 February 2012}}</ref> In 1993, Stagecoach was valued at £134 million and was floated on the [[London Stock Exchange]] to access capital for new opportunities for buses and trains overseas.

By the mid-1990s, Stagecoach developed its interests in Australia and [[NZ Bus|New Zealand]]. The company further expanded with the purchase of [[Citybus (Hong Kong)|Citybus]], an operator of buses and ferries in Hong Kong, and [[Coach USA]].<ref name="Acquisition">{{cite news|url=https://www.independent.co.uk/news/business/stagecoach-pays-pounds-121bn-for-largest-us-bus-operator-1100307.html|title=Stagecoach pays pounds 1.21bn for largest US bus operator|date=15 June 1999|access-date=28 October 2013|work=[[The Independent]]|location=London}}</ref>

Stagecoach then bought a number of the new small bus companies and ran free or low-fare buses to put local rivals out of business.<ref name="BBC21January2000"/> In [[Darlington]], Stagecoach subsidiary [[Busways Travel Services|Busways]] offered bounties to recruit drivers from the existing bus service and offered free buses to deter the rival preferred bidder from taking over that service. This practice was deemed as "predatory, deplorable and against the public interest" according to the [[Monopolies and Mergers Commission]].<ref>{{cite news|author=Glenda Cooper |url=https://www.independent.co.uk/news/uk/home-news/stagecoach-set-record-of-shame-ful-record-of-shame-1527193.html |title=Stagecoach set record of shame ful record of shame - Home News - UK |newspaper=The Independent |date=24 December 1995 |access-date=5 February 2012 |location=London}}</ref><ref name=MMC1995>{{cite web |url=http://www.competition-commission.org.uk/rep_pub/reports/1995/371bus.htm |title=The supply of bus services in the north-east of England |publisher=Competition Commission |access-date=5 February 2012 |url-status=usurped |archive-url=https://web.archive.org/web/20120204082405/http://www.competition-commission.org.uk/rep_pub/reports/1995/371bus.htm |archive-date=4 February 2012  }}</ref>

In 2009, Souter received a £1.6 million bonus. Stating "it was felt that in the present economic climate it would not be right for any individual to pocket a bonus package of £1.6million", he donated £900,000 to his own charity, the Souter Charitable Trust, which assists humanitarian projects in the UK and overseas. Most of the remainder was given to the staff pension fund.<ref>{{cite news|url=http://www.dailyrecord.co.uk/news/business-news/2009/07/10/stagecoach-bos-gives-his-1-6m-bonus-to-staff-and-charity-86908-21508938/ |title=Stagecoach boss gives his £1.6m bonus to staff and charity |newspaper=The Daily Record |access-date=5 February 2012}}</ref><ref>{{cite web|url=http://www.faithincommunityscotland.org/index.php?option=com_content&task=view&id=329&Itemid=38 |title=Faith in Community Scotland |publisher=Faith in Community Scotland |access-date=5 February 2012}}</ref>

In August 2012, it was announced that Souter would become chairman of Stagecoach Group on 1 May 2013, finance director Martin Griffiths replacing Souter as CEO.<ref>{{cite news |url=https://www.reuters.com/article/stagecoach-brief-idUSWLA216320120822/ |title=Stagecoach CEO Brian Souter to become chairman next year |publisher=Reuters.com |date=22 August 2012 |access-date=22 August 2012 |archive-date=30 October 2013 |archive-url=https://web.archive.org/web/20131030025401/http://www.reuters.com/article/2012/08/22/stagecoach-brief-idUSWLA216320120822 |url-status=live }}</ref> It was announced in December 2019 that Souter would step down from his role as chairman at the end of the year, but remain on the board as a non-executive director.<ref>{{cite news|last=Topham |first=Gwyn |date=2019-12-11|title=Stagecoach chairman Sir Brian Souter to step down|work=The Guardian|url=https://www.theguardian.com/business/2019/dec/11/sir-brian-souter-stagecoach-chairman-to-step-down|access-date=2020-09-22|issn=0261-3077}}</ref>

===Rail operations===

[[File:SouthWestTrains 444 at Wildenrath.jpg|thumb|[[South West Trains]] [[British Rail Class 444|Class 444]]]]

Shortly after Souter floated Stagecoach on the London Stock Exchange, he turned his attention to British railways. Initial experiments consisted of a Scotland to London service branded Stagecoach Rail with carriages attached to the ''[[Caledonian Sleeper]]''. During the [[privatisation of British Rail]], Stagecoach bid successfully to operate the [[South West Trains]] franchise from 1996 followed by the [[Island Line Trains]] later the same year. Stagecoach successfully bid to retain both when retendered in 2001 and 2006, before they passed to [[South Western Railway (2017-2025)|South Western Railway]] in 2017.<ref>[http://news.bbc.co.uk/1/hi/business/5369688.stm Stagecoach wins railway franchise] ''BBC News'' 22 September 2006</ref>

In 1998, Stagecoach purchased a 49% shareholding in [[Virgin Rail Group]] that operated the [[Virgin CrossCountry|CrossCountry]] and [[Virgin Trains West Coast|West Coast]] franchises.<ref>[http://news.bbc.co.uk/2/hi/uk_news/188052.stm "Virgin passengers get 'better deal'"] ''BBC News'' 7 October 1998</ref> In 2007, Stagecoach commenced operating the [[East Midlands Trains]] franchise.<ref>[http://www.stagecoach.com/media/news-releases/2007/2007-06-22.aspx Stagecoach Group welcomes East Midlands rail franchise win] Stagecoach Group 22 June 2007</ref> From April 2015 until June 2018, [[Virgin Trains East Coast]], in which Stagecoach held a 90% share, operated the [[InterCity East Coast]] franchise.<ref>[https://www.bbc.com/news/business-30222458 Stagecoach and Virgin win East Coast mainline rail franchise] ''BBC News'' 27 November 2014</ref>

===Megabus===

In 2003, Souter added the bus and coach operator [[Megabus (Europe)|Megabus]] to the group.<ref>{{cite news |url=http://www.thecourier.co.uk/news/stagecoach-entrepreneur-brian-souter-still-as-driven-as-ever-1.28481 |title=Stagecoach entrepreneur Brian Souter still as driven as ever |work=[[The Courier (Dundee)]] |access-date=28 October 2013 |url-status=dead |archive-url=https://web.archive.org/web/20160304052122/http://www.thecourier.co.uk/news/stagecoach-entrepreneur-brian-souter-still-as-driven-as-ever-1.28481 |archive-date=4 March 2016  }}</ref> With its slogan "Low Cost Inter City Travel Serving Europe", it offered discounted travel across the UK and Europe. In 2012 it operated in 31 cities in the UK with a turnover in excess of £2 billion, with annual profits of over £250 million.<ref>{{cite web|url=http://www.stagecoach.com/~/media/Files/S/Stagecoach-Group/Attachments/media/publication-financial-reports/ar2012.pdf |title=Annual Report and Financial Statements 2012 |publisher=Stagecoach Group |access-date=28 October 2013}}</ref>

In April 2013 Souter announced a new Megabus overnight sleeper service from Scotland to London. The sleeper coaches cost £5 million to build, and have 53 leather seats which can be converted into 42 bunk beds. Passengers receive a [[Onesie (jumpsuit)|onesie]] for sleeping in during the trip.<ref>{{cite news|url=http://www.dailyrecord.co.uk/sunday-mail-100/sm100-news/stagecoach-chairman-sir-brian-souter-1860149 |title=Stagecoach chairman Sir Brian Souter shows the way to Onesie Day |newspaper=[[Daily Record (Scotland)|Daily Record]] |date=29 April 2013 |access-date=7 November 2013}}</ref> This service ended in May 2017, due to it being consistently loss-making, and the coaches are now only used on daytime services.<ref>{{cite web|url=https://www.independent.co.uk/travel/news-and-advice/megabusgold-axed-uk-luxury-bus-sleepercoach-service-london-scotland-ryanair-victoria-coach-station-a7674681.html|title=Megabus is axing their luxury coach service|website=[[Independent.co.uk]] |date=9 April 2017|access-date=20 November 2017}}</ref>

===Souter Investments===

Souter has more than 200 private investments, which are managed by his company, Souter Investments. It makes investments across a broad range of asset classes, with a primary focus on private equity and a portfolio of more than 25 direct unquoted investments. The total portfolio, excluding Stagecoach, has increased in value by 9% per annum over 12 years.

====Highland Global Transport====

[[File:PolskiBus.com 4.jpg|thumb|[[PolskiBus]] [[Van Hool]] Astromega TD927]]

Souter and his sister [[Ann Gloag]] formed Highland Global Transport in 2012. It owns a portfolio of transport related investments valued at more than £600M<ref>[http://www.highlandglobaltransport.com/about-us.aspx About us] {{Webarchive|url=https://web.archive.org/web/20140903075819/http://www.highlandglobaltransport.com/about-us.aspx |date=3 September 2014 }} on Highland Global Transport website, viewed 28 August 2014</ref> including:
*[[Stagecoach Group]] (26%)
*[[Istanbul Deniz Otobusleri]], a ferry operator on the [[Bosphoros]] and [[Sea of Marmara]], Turkey (held by HGT shareholders direct)
*[[PolskiBus]], an [[intercity coach service]] operator in Poland, sold to [[Flixbus]] in December 2017<ref>Polskibus.com enters partnership with FlixBus ''[[Coach & Bus Week]]'' issue 1326 23 January 2018 page 9</ref><ref>PolskiBus to go green with Flixbus tie-up ''[[Buses (magazine)|Buses]]'' issue 755 February 2018 page 20</ref>
*[[Alexander Dennis]], a bus and coach manufacturer in UK, Asia and North America
*[[Argent Energy]], a biodiesel manufacturer
*[[Sunseeker]], a luxury motor yacht manufacturer
*[[OnniBus]] (75%), an intercity coach operator in Finland purchased in May 2014,<ref>[http://www.heraldscotland.com/business/company-news/souter-buys-75-of-finnish-coach-operator.24149662 Souter buys 75% of Finnish coach operator] ''[[Herald Scotland]]'' 6 May 2014</ref><ref>[http://www.thecourier.co.uk/business/news/souter-investments-drives-into-finnish-market-with-onnibus-com-investment-1.355276 Souter Investments drives into Finnish market with OnniBus.com investment] ''[[Dundee Courier]]'' 7 May 2014</ref> sold October 2018<ref>[https://www.eversheds-sutherland.com/global/en/what/publications/shownews.page?News=en/finland/en/We-advised-Koiviston-Auto-Group-in-its-acquisition-of-OnniBuscom We advised Koiviston Auto Group in its acquisition of OnniBus] Eversheds Sutherland 5 October 2018</ref><ref>Souter Investments sells Finland's OnniBus ''Buses'' issue 764 November 2018 page 20</ref>
*SuperBus.com, an intercity coach operator in Baltic states

====InMotion Group====
[[File:ManaBus.com double decker.jpg|thumb|[[ManaBus]] [[Kiwi Bus Builders]] bodied [[Volvo B11R]]]]
Highland Global Transport has purchased and established a number of subsidiaries in New Zealand. In August 2015, these were brought together under the one umbrella as the InMotion Group with 340 buses and coaches and 17 ferries.<ref>[http://www.souterinvestments.com/news/continued-expansion-in-new-n10166-s11.aspx Continued Expansion in New Zealand as Souter Holdings becomes InMotion Group] Souter Holdings 19 August 2015</ref><ref>[http://www.heraldscotland.com/business/company_news/13613733.Sir_Brian_Souter_s_investment_company_extends_presence_in_New_Zealand/ Sir Brian Souter's investment company extends presence in New Zealand] ''The Herald'' 19 August 2015</ref><ref>[http://www.nzherald.co.nz/bay-of-plenty-times/news/article.cfm?c_id=1503343&objectid=11499646 Souter adds Reesby to expanding fleet] ''Bay of Plenty Times'' 19 August 2015</ref>

*Mana Coach Services, an urban bus operator in [[Wellington]]
*Howick & Eastern Buses, an urban bus operator in [[Auckland]]
*[[Fullers Group]] (Fullers360), operator of commuter and tourist ferry services on [[Waitematā Harbour|Auckland Harbour]] and [[Hauraki Gulf]]
*[[ManaBus]], an inter-city coach operator
*[[Naked Bus]], an inter-city coach operator
*Reesby Buses, 40 vehicle coach operator

ManaBus and Naked Bus ceased operation on 15 July 2018, with the bus fleets being sold to [[Ritchies Transport]].<ref>{{cite news |title=Fifty jobs on the line as ManaBus and Nakedbus end services |first=Damien |last=Venuto |url= https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12075179 |newspaper=The New Zealand Herald |date=21 June 2018 |access-date=23 June 2018}}</ref> Reesby Buses was also sold to Ritchies in February 2019.<ref>{{cite web|url=https://www.souterinvestments.com/news/inmotion-group-completes-sale-of-reesby-rotorua/|title=InMotion Group completes sale of Reesby Rotorua|publisher=Souter Investments|date=6 February 2019|access-date=21 August 2019|archive-url=https://web.archive.org/web/20190821055436/https://www.souterinvestments.com/news/inmotion-group-completes-sale-of-reesby-rotorua/|archive-date=21 August 2019|url-status=live}}</ref> Mana Coach Services and Howick & Eastern Buses were sold to [[Transdev Australasia]] in October and November 2019 respectively.<ref>{{cite web|url=https://www.souterinvestments.com/news/souter-investments-to-sell-howick-and-eastern-buses-and-mana-coach-services-to-transdev/|title=Souter Investments to sell Howick and Eastern Buses and Mana Coach Services to Transdev|publisher=Souter Investments|date=20 August 2019|access-date=21 August 2019|archive-url=https://web.archive.org/web/20190821050739/https://www.souterinvestments.com/news/souter-investments-to-sell-howick-and-eastern-buses-and-mana-coach-services-to-transdev/|archive-date=21 August 2019|url-status=live}}</ref><ref>{{cite web|url=https://www.stuff.co.nz/business/115146042/rail-operator-tranzdev-buys-mana-coach-services|title=Rail operator Transdev buys Mana Coach Services and Howick & Eastern Buses|publisher=Stuff New Zealand|date=20 August 2019|access-date=21 August 2019|archive-url=https://web.archive.org/web/20190820064310/https://www.stuff.co.nz/business/115146042/rail-operator-tranzdev-buys-mana-coach-services|archive-date=20 August 2019|url-status=live}}</ref><ref>{{cite web|url=https://www.transdev.com.au/news-en/wellingtons-mana-coach-services-joins-transdev/|title=Wellington's Mana Coach Services joins Transdev|publisher=Transdev Australasia|date=1 October 2019|access-date=8 October 2019|archive-url=https://web.archive.org/web/20191008034854/https://www.transdev.com.au/news-en/wellingtons-mana-coach-services-joins-transdev/|archive-date=8 October 2019|url-status=live}}</ref> This leaves Fullers Group (Fullers360) as Souter's only subsidiary in New Zealand as of November 2019.<ref>{{cite web|url=https://www.busnews.com.au/industry-news/1911/transdev-s-nz-expansion-continues-howick-and-eastern-buses-bought|title=Transdev's Nz Expansion Continues; Howick And Eastern Buses Bought|publisher=Australasian Bus & Coach|date=4 November 2019|access-date=5 November 2019|archive-url=https://web.archive.org/web/20191104222508/https://www.busnews.com.au/industry-news/1911/transdev-s-nz-expansion-continues-howick-and-eastern-buses-bought|archive-date=4 November 2019|url-status=live}}</ref>

===Institute of Chartered Accountants of Scotland===

In April 2015, Souter was officially appointed vice president of the [[Institute of Chartered Accountants of Scotland]], alongside newly appointed president, Jim Pettigrew.<ref>{{cite web|url=http://www.thecourier.co.uk/business/news/jim-pettigrew-and-sir-brian-souter-lead-major-scottish-accountancy-body-icas-1.868578|title=Jim Pettigrew and Sir Brian Souter lead major Scottish accountancy body Icas|date=25 April 2015|author=Huband, Graham|work=The Courier|archive-url=https://web.archive.org/web/20150427183150/http://www.thecourier.co.uk/business/news/jim-pettigrew-and-sir-brian-souter-lead-major-scottish-accountancy-body-icas-1.868578|archive-date=27 April 2015|url-status=dead}}</ref> Souter, who qualified as a Chartered Accountant in 1984, was the sole nominee for the vice-president role. In May 2017 the organisation appointed him as its president.<ref>{{cite web|url=https://www.icas.com/ca-today-news/sir-brian-souter-ca-becomes-president-of-icas|title=Sir Brian Souter CA has been appointed as the new President of ICAS|date=2 May 2017|website=[[Institute of Chartered Accountants of Scotland]]}}</ref>