John Gutfreund
John Gutfreund | |
---|---|
Born | John Halle Gutfreund September 14, 1929 Scarsdale, New York, U.S. |
Died | March 9, 2016 New York City, U.S. | (aged 86)
Alma mater | Oberlin College (BA) |
Occupation(s) | Investment banker, businessman and investor |
Employer | Salomon Brothers |
Spouse | Joyce Low |
Children | 4 |
Military career | |
Allegiance | United States |
Service/ | United States Army |
Years of service | 1951-1953 |
Rank | First lieutenant |
Unit | Military Police Corps |
Battles/wars | Korean War |
John Halle Gutfreund
Early life and education
Gutfreund grew up in a Jewish family
Career
After several months, Gutfreund became a clerk in the municipal bond department, eventually becoming a trader. He rose quickly through the company and became a full partner at the age of thirty four.[8] In 1978, Billy Salomon named Gutfreund to succeed him as head of the firm,[9] becoming the highest paid Wall Street executive at the time. Besides his executive office on the 43rd floor of 1 New York Plaza, Gutfreund frequently occupied a two-person desk at the head of the massive, double-decker 41st floor fixed income trading floor, known as 'the Room', where Gutfreund would regularly give advice to individual traders.[10]
In early 1991, when Gutfreund was CEO of Salomon Brothers, a major scandal took place regarding the way
From January 2002, Gutfreund was senior managing director and executive committee member of the investment bank C.E. Unterberg, Towbin. He was also president of Gutfreund & Company, a New York-based financial consulting firm that specialized in advising corporations and financial institutions in the US, Europe and Asia.[13][14]
Legacy
Gutfreund was featured prominently in the 1989 book
The UJA-Federation of New York honored him for his charitable activities and contributions.[5]
Personal life
Gutfreund was married twice:
- In 1958, he married Joyce Low, the daughter of Teddy Low, a partner at Bear Stearns.[15] They had three sons: Nick (b.1959), Josh (b.1961), and Owen (b.1963).[16]
- In 1981, he married flight attendant Susan Penn (maiden name Kaposta) (b. 1946),
Gutfreund died on 9 March 2016, aged 86.[21][22][7]
References
- ^ pronounced "goodfriend"
- ^ a b Michael Lewis, The End, Portfolio.com, 11 November 2008
- ^ "Liars Poker II, Timesonline". Timesonline.co.uk. 2012-03-13. Retrieved 2012-07-24.
- ^ a b "Ex-Salomon Chief's Costly Battle". The New York Times. August 19, 1994.
- ^ a b New York Times: "Private Sector; Tapping the Wall Street Melting Pot" By Patrick McGeehan (COMPILED BY RICK GLADSTONE) November 25, 2001
- ^ "NOTABLE ALUMNI". The Lawrenceville School. Retrieved October 16, 2014.
- ^ a b Kandell, Jonathan (March 9, 2016). "John Gutfreund, Who Ran Salomon Brothers at Its Apex, Is Dead at 86". New York Times. Retrieved March 9, 2016.
- ^ a b c "New York Stories: Landmark Writing from Four Decades of New York Magazine" By Steve Fishman p171
- ^ TOO FAR, TOO FAST; Salomon Brothers' John Gutfreund, The New York Times, January 10, 1988
- ^ Euromoney: "An interview with John Gutfreund " October 1, 1979
- ^ "Inaction Can be as Dangerous as Bad Action, Aly Gonenne, Class of 2004, Duke Leadership Development Initiative". Mbaa.fuqua.duke.edu. Archived from the original on 2010-06-18. Retrieved 2012-07-24.
- ^ The Economist: "John Gutfreund Resurrection: A Wall Street legend seeks to recapture former glories" May 8th 2003
- ^ John H. Gutfreund Archived June 10, 2007, at the Wayback Machine
- ^ "John H. Gutfreund's bio". Phx.corporate-ir.net. Archived from the original on 2016-01-13. Retrieved 2012-07-24.
- ^ a b c New York Magazine: "Hard to be Rich" by John Taylor Jan 11, 1988
- ^ New York Times: "A Fallen King In Search of a Lesser Throne" By PETER TRUELL May 03, 1998
- ^ People: "The Party's Over" By Karen S. Schneider September 9, 1991
- ^ People: "Marriage with a Midas Touch" By Elizabeth Sporkin May 07, 1990
- ^ Charlotte Curtis, "THE SOCIAL SCRAMBLE IS ON", New York Times, September 17, 1985
- ^ New York Observer: "Consummate Hostess Susan Gutfreund Advises Wall Street Wives to Stay Home" By Irina Aleksander May 5, 2009
- ^ Wall Street Journal John Gutfreund former king of Wall Street, dies at 86
- ^ John Gutfreund, ‘King of Wall Street’ who helped transform Salomon Brothers, dies at 86, Washington Post