Glasgow financier Hugh Hendry tells how Castlemilk gave him tools to become a global high roller

Financier Hugh Hendry was raised in the now-demolished Ardencraig Crescent in Castlemilk and says growing up in relative poverty gave him a steely determination to become a high roller.

The 53-year-old recently returned to the area and was stunned to see how much it has changed.

He said: “I was back in Glasgow for a week and thought I’d try to find my old house and school.

“I went to Castlemilk and it was very different from what I remember. The street where I grew up was gone and the only thing remaining from my youth are the goalposts from the old football pitch.

“It brought back a lot of memories, some good and some less so. I remember there being a lot of aggravation there when I was a kid but that instilled a fighting spirit in me to work hard and gave me the drive necessary to succeed.”

The investor was born in 1969 and raised by dad Hugh, a van driver for the Co-op, and mum Morag, alongside his younger brother Mark.

The family was shaped by the scheme's school of hard knocks and were immensely proud when Hugh was accepted to Strathclyde University after corporate giants KPMG sponsored him to become a chartered accountant at its Glasgow offices. After graduating, he then moved to work for investment managers Baillie Gifford in Edinburgh.

The bright lights of London soon came calling for the ambitious Glasgow man and he moved to London after being headhunted by global banking giant Credit Suisse.

In 2002, Hugh decided to roll the dice and branch out on his own with his hedge fund Eclectica Asset Management.

Spending his early years in Castlemilk, thinking on his feet was a skillset that Hugh relied on, and it was that foresight that kept him ahead of many of his rivals and allowed him to cash in during the credit crunch and stock market crash of 2008.

He explains: “I always like to think ahead, and it’s been a hugely important factor in my success. I describe it as little glimmers of the future, what could happen when markets move? It’s about forward-thinking and looking at the bigger picture.

“I made 50 per cent profit during the credit crunch while other businesses went bust because they weren’t prepared to think differently. If you just do the same thing over and over, then you’re going to get the same results.”

Hugh's ability to think outside the box has been key to a hugely successful career, and the boy who cut his teeth on Glasgow's mean streets now divides his time between America, London, Paris and his two homes in St Barts.

The investor, who is estimated to be worth £43 million, however prefers to rent out his mansions and spends much of his time travelling and staying in hotels.

He adds: “I suppose I’m a bit of a hippie, I’m always on the go, travelling to different countries and living out of a suitcase.

“I rent my properties in St Barts out for most of the year, I probably only spend a week or so there at any given point.

“I’m a jeans and t-shirt kind of guy, that’s the way I like to roll.

“I see folk getting changed into silk pyjamas to sit in business class on a flight, and I just think ‘get over yourself'.

“I remember when I struggled to get ten quid out of the cash machine and I’ve never forgotten where I come from or what it’s like to be in the bread line."

Hugh is now enjoying a new lease of life with his hugely successful podcast, The Acid Capitalist, which is hosted by journalist Chris Sweeney, known as the Alchemist.

He added: “It’s really taken off and we’re delighted with how it’s going. It gives us both a chance to discuss topics that are passionate about and the subjects are really landing with people.

“My brain never stops and I’m always bursting with ideas, so I thought why not do a podcast and put them out there?"

The entrepreneur says he fears for what may lie ahead for his fellow Glaswegians as many in the city struggle to pay bills, eat and heat their homes due to the rising cost of living."

Hugh added: “I've looked at things quite hard and I worry about what the economic crisis will bring next year. To be completely honest, it terrifies me. People from all walks of life are experiencing a cost of living crisis and my genuine fear is that the economy is only going to get worse over the next 12 months, no matter who is running the country.

"Market forces dictate so much and there are so many external factors like the war in Ukraine that we have no control over. It is a very worrying time.

“I've been lucky in life and I’m grateful for everything that I have. I still think about growing up in Glasgow and how different things could have been and because of that I don’t take anything for granted.”

The Acid Capitalist is available from Apple Podcasts.