Terrence Howard Loy Young
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| Terrence Howard Loy Young | |
|---|---|
.jpg) THLY(B).jpg | |
| Born | December 31, 1941 |
| January 12, 2014 (aged 72)January 12, 2014 (aged 72) | |
| 💼 Occupation | Tax lawyer |
| 🏢 Organization | Fraser and Beatty |
| 👩 Spouse(s) | Katharine Young (m. 1967) |
| 👶 Children | 2 |
| 👴 👵 Parent(s) | Hing Young • Ida Young |
Terrence Howard Loy Young was a Canadian tax lawyer. He was the chief executive officer of the law firm Fraser and Beatty, the largest law firm in Western Canada which eventually became the 4th largest law firm in the world.[1][2] Young also served as an aide for international military sailors at Fenwick Pier in Hong Kong.
Early Life[edit]
Terrence Howard Loy Young was born in Manitoba, Canada on December 31, 1941. Young was the eldest child of Hing Young and Ida Young. He lived in Manitoba before moving to Espanola, Ontario at a young age.
In Espanola, Young and his family resided at 92 Park Street, which was a well-known diner. After their move, Hing and Ida gave birth to their second son who was critically ill at birth. The child, who was never named, received care from Dr. Harvie, a family physician. According to medical records, Dr. Harvie neglected to treat several of the child's illnesses, which led to the child's death at three weeks of age.[3] A few years later, Hing and Ida gave birth to their youngest daughter.
The Young family became prominent residents in the community of Espanola, leading to a street being named after them.[4] The street was titled Young Place. An adjacent street was named after Dr. Harvie, despite protest from the Young family.[5]
Young attended Espanola High School, and shortly after graduation, moved to Toronto to study physiology at the University of Toronto.
Law Career[edit]
After switching his topic of education from physiology to law, Young attended law school. On March 19, 1970, he graduated from the Law Society of Ontario's Bar Admission Course. He received an honorary degree and was called to the bar.[6]
In 1970, Young was hired by the law firm, Fraser and Beatty. He worked as a tax lawyer and ascended through the law firm's administrative ranks. In 1985, after Fraser and Beatty expanded their services into Hong Kong, Young became the chief executive officer.[7] In 1996, Young moved to Hong Kong and continued his work as CEO there. He served as CEO for a total of 13 years, until the 1998 merger between Fraser and Beatty and Alberta-based law firm Milner Fenerty.[8] After 1998, Young continued to work as a tax lawyer under the newly-merged firm, now called Fraser Milner. On June 6, 2000, Fraser Milner merged with Byers Casgrain to form Fraser Milner Casgrain (FMC).[9]
From 1998 - 2012, Young was FMC's most senior administrative member in Hong Kong. He expanded FMC's foothold in Hong Kong by establishing partnerships with fellow law firms. Young's partnerships eventually led to the merger of FMC with Chinese law firm SNR Denton, and European law firm Salans.[10] The merge was announced on November 8, 2012, and took place on March 28, 2013.[11] Succeeding the merge, FMC was renamed Dentons. Dentons is the world’s 4th largest law firm by revenue, with $2,900,000,000 in gross revenue.[2]
In 1987, after Young became CEO of Fraser and Beatty, he and his wife Katharine were featured in The Ontario Lawyers Weekly magazine.[12]
Service Career[edit]
From 1996 - 2011, Young was a member of the Servicemen's Guides Association (SGA), a non-profit organization.[13] The SGA was in charge of operating Hong Kong's Fenwick Pier, which served as a port for international military sailors since 1953.[14] Young was one of many volunteers who assisted sailors when their naval vessels docked in Hong Kong. Young answered questions, translated information, and ensured a worry-free stay for the sea-based visitors. At Fenwick Pier, Young served sailors from 14 countries including Canada, the United States, Thailand, and the United Kingdom.
While Fenwick Pier was active, Young and the SGA welcomed around 2 to 28 naval vessels and 1,280 to 35,400 sailors each year.[15] Sadly, Fenwick Pier was demolished in early 2022 due to government reclamation and the SGA was forced to cease all operations.[16]
Personal Details[edit]
On August 19, 1967, Terrence Young married Katharine Young (née Lee). The couple moved to downtown Toronto. In 1973, they gave birth to their first daughter, and in 1976, their second daughter was born. In Toronto, Young was known to be a ‘professional partygoer’ as he frequently hosted guests. The guests often ranged from business partners, colleagues, and fellow law firm associates. In 1985, police received multiple complaints regarding Young, as he was hosting a large quantity of guests. The guests’ cars blocked traffic for multiple blocks, and traffic had to be directed by officers. In 1996, the couple moved to Hong Kong.
From 1970 to 2010, Young often took vacation time to travel with his family. He visited over 30 countries, most notably: the United States, India, Mongolia, Thailand, Cambodia, Egypt, and Australia.
In 2010, Young celebrated 40 years of his law degree. He received his L1 license with the Law Society of Ontario in 1970.[17]
Young was a golf and tennis player, hence he often played with colleagues and family. In Hong Kong, Young and his fellow FMC lawyers frequented the Discovery Bay Golf Club. In Florida, Young owned part of the Colony Beach and Tennis Resort. The Colony Beach and Tennis Resort was the number one tennis resort in the United States for eight years, hosting guests such as President George W. Bush.[18][19]
Later life[edit]
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In 2011, Terrence's wife Katharine moved back to Canada where the rest of their family lived. They had two children and five grandchildren. Young spent two more years working in Hong Kong until his health started to deteriorate in 2013. Initially, he told no one about his condition until late 2013 when he had to call a colleague to drive him to the hospital. He was admitted into the Hong Kong Sanatorium & Hospital, where he was diagnosed with stage four prostate cancer. Young's family was notified about his diagnosis and flew from Canada to visit him in palliative care.
Young died on January 12, 2014.
References[edit]
- ↑ "Wayback Machine" (PDF). Archived from the original (PDF) on 29 September 2011. Retrieved 2022-07-31. Unknown parameter
|url-status=ignored (help) - ↑ 2.0 2.1 "The World's Top 10 Law Firms". Investopedia. Retrieved 2022-07-31.
- ↑ "Province of Ontario CoRD Archives - Hing Ida Young". Internet Archive. 1941-02-21.
- ↑ "Young Place in Town of Espanola, Ontario, Canada". cartographic.info. Retrieved 2022-07-31.
- ↑ "Harvie Crescent in Town Of Espanola, Ontario, Canada". cartographic.info. Retrieved 2022-07-31.
- ↑ "THE LAW SOCIETY OF UPPER CANADA SPECIAL CONVOCATION | WRIGHT, YOUNG, ZALDIN" (PDF). The Law Society of Upper Canada. March 19, 1970.
- ↑ "Fraser & Beatty, 1990". Osgoode Society for Canadian Legal History. Retrieved 2022-07-31.
- ↑ "Canada's Fraser & Beatty (T. Young) and Milner Fenerty (M. Brunet) merge". IFLR. 1998-09-30. Retrieved 2022-07-31.
- ↑ Stinson, Marian (2000-06-06). "Fraser Milner to merge with Byers Casgrain". The Globe and Mail. Retrieved 2022-07-31.
- ↑ Denton, S. N. R. "Salans, FMC and SNR Denton to Combine". www.newswire.ca. Retrieved 2022-07-31.
- ↑ Ho, Catherine (2022-08-04). "SNR Denton to enter three-way merger with Canadian, Paris law firms". The Washington Post.
- ↑ "Photographs of lawyers, judges and events 1985-2001". Law Society of Ontario. Retrieved 2022-08-23.
- ↑ "Molly Lee-Terrence Young: Members of Fenwick ARCHIVE" (PDF). Internet Archive.
- ↑ "'We'll shed a few tears': the last days of Hong Kong's Fleet Arcade". South China Morning Post. 2022-01-20. Retrieved 2022-08-01.
- ↑ "NGO in last-ditch bid to save Hong Kong landmark Fenwick Pier". South China Morning Post. 2020-05-24. Retrieved 2022-08-01.
- ↑ Leung, Hillary (2022-01-01). "In Pictures: Hong Kong's Fenwick Pier set to sail into the sunset". Hong Kong Free Press HKFP. Retrieved 2022-08-01.
- ↑ "Terrence Howard Young Directory". Members of the LSO. Retrieved 2018-03-10.
- ↑ "The Colony Beach And Tennis Resort | Abandoned Florida". 2018-07-03. Retrieved 2022-08-01.
- ↑ "9.11 Remembered: Sarasota, Longboat Key took center stage | Sarasota". Your Observer. 2021-08-19. Retrieved 2022-08-01.
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