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Second surviving son of Beaumont Hankey, Douglas was born on 6 Mar 1856 and was baptised on 6 Apr at Wimbledon. Educated at Eton.
He married Frances Cornwallis in 1918. At one time a brewer in Newark, Douglas succeeded his father in Hankey Bannister; the firm was sold by his executors in 1932 to Saccone & Speed and is now part of International Distillers & Vintners.
Douglas died on 29 Jan 1932 at 34 Onslow Gardens, leaving an estate of £103,000.