Lordly bachelor boy (5)

I believe the answer is:

baron

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'lordly bachelor boy' is the definition.
'Baron' can be an answer for 'boy'. I am not certain of the 'lordly bachelor' bit.

'bachelor boy' is the wordplay.
'bachelor' becomes 'b' (abbreviation e.g. BA=Bachelor of Arts).
'boy' becomes 'aron' ().
'b'+'aron'='BARON'

Can you help me to learn more?

(Other definitions for baron that I've seen before include "Lowest title of peerage" , "British peer; business mogul" , "Nobleman providing a portion of beef" , "Powerful financier" , "A lord; sounds like childless" .)

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