He is also the younger brother of Sir Merlin Sereld Victor Gilbert Hay, 12th Baronet Moncreiffe, 24th Earl of Erroll and Chief of Clan Hay.
While at Christ Church he rowed for Oxford at number 7 in the 1972 Boat Race.
He became an investment banker and later became a Freeman of the City of London and a Liveryman of the Worshipful Company of Fishmongers.
He married Miranda Mary Fox-Pitt (born 29 December 1968) younger daughter of Mervyn Fox-Pitt and a descendant of General Augustus Pitt Rivers on 27 July 1988.
They have the following issue: Peregrine Moncreiffe and his family now live in the Channel Islands, as of 2006.