12 STEPHEN CONWAY & FAMILY
Property 2018: £300m 2017: £270m (12th)
Stephen Conway’s Loughton-based developer, Galliard Homes, is working on three developments in Birmingham, together worth £500m. Galliard, which is one of London’s largest developers, was co-founded in 1991 by Conway. An East Ender by birth, Conway left school in 1964 aged 16 and developed his early entrepreneurial spirit through trading, working in a bank and running a market stall at weekends. “When I was a kid, I worked in the market running my own stall. After I left school with five O Levels, my mum wanted me to get a ‘proper job’ paying £6 a week in a bank. But the attraction of getting £40 a week from the market on a weekend was too great to resist,” Conway recalls. In 1969, he began his career in industrial finance, working for the First National Finance Corporation before being poached to run a small property-lending bank until 1974. Then followed the worst property and banking crash of the century. Conway saw it first hand and learnt the lessons before going to work for a property company until he co-founded Galliard Group. It made £74m profit on £391.9m sales in 2016-17. Galliard’s net assets have also soared to almost £202.5m – an increase of nearly £60m in 12 months. Conway and his sons own well over half the company, so we raise the family by £30m this year taking them to £300m.