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Second son of Thomas Alers Hankey of Clapham and Epsom, Frederick was born at Clapham on 28 January 1835 and baptised on 23 Mar at the Independent chapel at Kings Weigh House, Fish Street Hill.
Educated at Rugby.
He was a merchant, and lived at South Street, Epsom, near the racecourse. He was also involved with his father and Ernest Thomas Hankey in the Plymouth Ironworks.
He died at Epsom on 12 Jul 1896 and was buried at Ashstead on 16 Jul. He left effects of £208,939.