Max Aitken, 1st Baron Beaverbrook to resign and stand for re-election in a by-election. Aitken made arrangements for this, but then Lloyd George decided to appoint Albert Stanley instead. Aitken was a friend of Stanley and agreed to continue with the resignation, so that Stanley could take Aitken's seat in Parliament and be eligible for ministerial office. In return, Aitken received a peerage on 23 January 1917 as the "1st Baron Beaverbrook", the name "Beaverbrook" being adopted from a small community near his boyhood home. He had initially considered "Lord Miramichi", but rejected it on the advice of Louise Manny as too difficult to pronounce.
Max Aitken, 1st Baron Beaverbrook New Brunswick where he again sold life insurance before moving to Calgary where he helped to run Bennett's campaign for a seat in the Legislative Assembly of the North-West Territories in the 1898 general election. After an unsuccessful attempt to establish a meat business, Aitken returned to Saint John and to selling insurance. In 1900, Aitken made his way to Halifax, Nova Scotia, where John F. Stairs, a member of the city's dominant business family, gave him employment and trained him in the business of finance. In 1904, when Stairs launched the Royal Securities Corporation, Aitken became a minority shareholder