Redrow founder Steve Morgan, who was born in Liverpool, will come to the city to speak at an event organised by the Liverpool branch of the Institute of Directors. Tony McDonough reports

Redrow tycoon Steve Morgan is to speak at an event in Liverpool organised by the local branch of the Institute of Directors (IoD).

Mr Morgan, who grew up in Garston, founded Redrow in 1974 with the aid of a £5,000 loan from his father. He grew the business from a sewer and drainage contractor to become one of the UK’s leading housebuilders.

In 1994 he floated the business on the stock exchange an stepped down as chairman in November 2000 to pursue other interests. He returned to Redrow in spring 2009, once again taking over as chairman.

When Mr Morgan regained the reins of the business it was in a slump and had reported losses totalling £360m in the previous two years. Within a year of the founder’s return Redrow was back in the black, turning a £1m profit.

In 2019 he retired from the business after handing over Redrow’s 100,000th home. In that year the company built a record 6,443 homes generating £404m profit.

A lifelong fan of Liverpool FC, Mr Morgan attempted to buy the club in 2004 but his reported offer of £61m was rejected by the board as being too low. In 2007 he acquired Wolverhampton Wanderers from Sir Jack Hayward for a token £10 on condition he invested £30m into the club. He sold Wolves in 2016.

He is also chairman of the Bridgemere Group of companies, which has interests in aviation, healthcare, UK and overseas property, home building and hotels.

In 2001 he set up the Steve Morgan Foundation, which is now one of the largest charitable trusts in the UK. The Foundation’s mission is to deliver social change to improve the lives of the most vulnerable and disadvantaged people.

It funds projects across Merseyside, Cheshire and North Wales that provide practical, targeted support. Over the years, he has given more than £300m to the Foundation. In the year to March 2021, his foundation donated £27m to hundreds of charities to help them survive their way through the COVID pandemic.

Mr Morgan has been awarded five Honorary Doctorates/Degrees. He was awarded the OBE in 1992 for services to the construction industry and the CBE in 2016 for philanthropy.

The event will take place on Wednesday, September 15, between 8.15am and 11am at a venue yet to be confirmed. It will be open to both IoD members and non-members. It is being sponsored by DSG Accountants and Kays Medical.

David Wafer, managing director of McIver Scott Recruitment, and chair of the Liverpool city region branch of the IoD, will be asking the questions.

“Over the past few months we have had an amazing calibre of guests at our events including Steve Rotheram, Andy Burnham, Gerald Ratner and Rory Underwood. Steve Morgan is a real business heavyweight and I’m sure he will offer a fascinating insight into his life and career.”

To book a place at the event email Heather.White@iod.com or click here.