Educated at Westminster School in London,[citation needed] Banks was a Director of Oakbank Oil Co. Ltd during 1962/3–1963, which became BP Exploration (Associated Holdings) in 1963.
[3] During 1965–66, Banks was President of the British Computer Society.
[4] In the United Kingdom 1971 New Year's Honours List, Banks was knighted by Queen Elizabeth II[5] as a Knight Bachelor for services to patent law.
[6] In 1972, he received the UK Businessman of the Year award, presented by Lord George-Brown at the Savoy Hotel in central London.
Health advocate and activist Joan Banks Dunlop (1934–2012) was their daughter.