A TYCOON who ran a metals business after leaving the army has gifted the bulk of a £6 million fortune to help veterans.
Ian Hood gathered massive wealth through his family business John Hood and Co, which sold brass and copper in Glasgow for decades.
The business was based in the city’s Cheapside Street and was well known in manufacturing circles.
It was founded in 1919 by Mr Hood’s father John before the business was sold in the mid-1990s.
It has now emerged that Mr Hood ordered his £5,893,860 estate to be handed over to several good causes, including the veterans charity Erskine, the Glasgow Academical War Memorial Trust and the Army Benevolent Fund.
He also set aside funds for the Royal National Lifeboat Institution (RNLI), Guide Dogs for the Blind, and the National Trust for Scotland.
In addition, he gave money and belongings to the Accord Hospice, where he had been cared for in his later years.
Mr Hood, of Newton Mearns, ordered gifts totalling £241,500 be set aside for family and friends including gifts of £2,000 each for several former employees.
But he asked for the rest of his fortune, largely made up of a stocks and shares portfolio, to be shared between his chosen charities with Erskine in line to receive more than £1.8m. Other good causes will be given around £630,000 each.
Mr Hood, who died aged 86 in June, retired when he sold the firm and spent time travelling with his wife Shirley, but she died just a few years later. They had no children.
One former employee recalled Mr Hood’s generosity and care of his staff.
She said: “He inherited the business from his father and kept it going. He was well known within the business community and very much respected.
“He had been in the army and to learn he has given vast sums to charities with links to the military doesn’t come as a surprise.
“He was always very smartly dressed and had a dignified air about him.
“When he retired he planned to spend more time with his wife but she passed away quite soon afterwards, but I think they were glad of the time they had together.
“Outside of work he loved fishing and regularly travelled to Deeside with his rods and kit.
“When he sold the business he made sure people’s pensions were protected and would still send some workers gifts of money at Christmas time.
“He was a wonderful man who cared very much for his staff and others.”
The charities expressed their gratitude at Mr Hood’s generous bequests.
A spokeswoman for Erskine said: “Mr Hood was a valued supporter of Erskine for many years, and his kind legacy will ensure that we can provide for the changing needs of our ex-service community in future years.”
Henry Weaver of the RNLI said: “Mr Ian Carswell Hood, a long-term supporter of the RNLI who lived in Glasgow and unfortunately passed away earlier this year, chose to continue his support by leaving a share of his estate to the institution in his will.“This generous gift is likely to be in excess of half a million pounds and will make a real difference to our life-saving work.“We are greatly indebted to all our friends and supporters who choose to help us in this way.”
A National Trust for Scotland spokeswoman added: “This was a very generous gift which our charity is very grateful to have received.”
Guide Dogs UK said: “The money which Mr Hood left in his will means that more people will have their lives transformed by these amazing dogs and the freedom they bring.”
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