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词条 John Gutfreund
释义

  1. Early life and education

  2. Career

  3. Legacy

  4. Personal life

  5. References

  6. External links

{{about|a banker|other people|Gutfreund}}{{Infobox person
| birth_name = John Halle Gutfreund
| image = John Gutfreund.jpg
| birth_date = {{birth date|1929|9|14}}
| birth_place = Scarsdale, New York
| death_date = {{death date and age|2016|3|9|1929|9|14}}
| death_place = Manhattan, New York City
| occupation = Investment banker, businessman and investor
| alma_mater = Oberlin College
| employer = Salomon Brothers
| nationality = American
| spouse = Joyce Low (3 sons)
Susan Penn (1 son)
}}John Halle Gutfreund (14 September 1929 – 9 March 2016) was an American banker, businessman and investor. He was the CEO of Salomon Brothers Inc, an investment bank that gained prominence in the 1980s. Gutfreund turned Salomon Brothers from a private partnership into a publicly traded corporation [1] which started a trend in Wall Street for investment companies to go public.[2] In 1985, Business Week gave him the nickname "King of Wall Street".[3]

Early life and education

Gutfreund grew up in a Jewish family[4] in Scarsdale, a suburb of New York City. His father, Manuel Gutfreund, was the owner of a prosperous trucking company. He attended the Lawrenceville School.[5] In 1951, Gutfreund graduated from Oberlin College in Ohio with a degree in English.[6] He considered teaching literature but instead joined the Army. In 1953, he was discharged. His father belonged to the Century Country Club in Purchase, New York (which was at the time a center for the German Jewish establishment) where he often golfed with William (Billy) Salomon, the son of Percy Salomon, one of the three founding brothers of Salomon Brothers. At Billy Salomon's invitation, the young Gutfreund joined Salomon Brothers as a trainee in the statistical department.[7]

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.[7] In 1978, Billy Salomon named Gutfreund to succeed him as head of the firm,[8] becoming the highest paid Wall Street executive at the time. Besides his executive office on the 43rd floor of One 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.[9]

When Gutfreund was CEO of Salomon Brothers, a major scandal took place regarding the way Treasury bond trading was done by Salomon. Paul Mozer, head of the Government Bond desk, was submitting bids in excess of what was allowed by the Treasury rules. When this was discovered and brought to the attention of Gutfreund, he did not immediately suspend Mr. Mozer.[10] The exposure of Mr. Mozer's repeated violations of U.S. government bond auction rules resulted in a significant scandal during which regulators and some politicians called on the firm to be stripped of its Primary Dealer status. This action would have threatened the survival of the firm, then the largest participant in the U.S. government and mortgage bond trading markets. Warren Buffett, who through Berkshire Hathaway had recently acquired a $900 million preferred equity position in Salomon, actively intervened to protect his investment, including briefly serving as CEO of Salomon Brothers.[3] As a result of the scandal, Gutfreund and other senior managers of Salomon were forced to resign in 1991.[11]

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.[12][13]

Legacy

Gutfreund was featured prominently in the 1989 book Liar's Poker by Michael Lewis, a former employee of Salomon. Gutfreund would later tell Lewis that "Your fucking book destroyed my career, and it made yours."[1]

The UJA-Federation of New York honored him for his charitable activities and contributions.[4]

Personal life

Gutfreund was married twice:

  • In 1958, he married Jewish American Joyce Low, the daughter of Teddy Low, a partner at Bear Stearns.[14] They had three sons: Nick (b.1959), Josh (b.1961), and Owen (b.1963).[15]
  • In 1981, he married flight attendant Susan Penn (maiden name Kaposta) (b. 1946),[16] the daughter of a Hungarian American, US Air Force pilot father[7][14] and a Spanish American mother.[14][17] They had one child, John Peter (b. 1985).[18][19]

Gutfreund died on 9 March 2016, aged 86.[20][21]

References

1. ^Michael Lewis, [https://web.archive.org/web/20120719063628/http://upstart.bizjournals.com:80/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom.html?page=all The End], Portfolio.com, 11 November 2008
2. ^{{cite web|url=http://www.timesonline.co.uk/tol/news/world/article7069617.ece |title=''Liars Poker II'', Timesonline |publisher=Timesonline.co.uk |date=2012-03-13 |accessdate=2012-07-24}}
3. ^[https://query.nytimes.com/gst/fullpage.html?res=990CE0DF1639F93AA2575BC0A962958260 Ex-Salomon Chief's Costly Battle], The New York Times, August 19, 1994
4. ^[https://www.nytimes.com/2001/11/25/business/private-sector-tapping-the-wall-street-melting-pot.html New York Times: "Private Sector; Tapping the Wall Street Melting Pot" By Patrick McGeehan (COMPILED BY RICK GLADSTONE)] November 25, 2001
5. ^{{cite web|url=http://www.lawrenceville.org/about/history/notable-alumni/index.aspx |title=NOTABLE ALUMNI |publisher=The Lawrenceville School |accessdate=October 16, 2014 }}
6. ^{{cite news|last1=Kandell|first1=Jonathan|title=John Gutfreund, Who Ran Salomon Brothers at Its Apex, Is Dead at 86|url=https://www.nytimes.com/2016/03/10/business/dealbook/john-gutfreund-who-ran-salomon-brothers-at-its-apex-is-dead-at-86.html|accessdate=March 9, 2016|work=New York Times|date=March 9, 2016}}
7. ^[https://books.google.com/books?id=37loXq5ve2MC&pg=PA171&lpg=PA171&dq=John+Gutfreund+jew "New York Stories: Landmark Writing from Four Decades of New York Magazine" By Steve Fishman] p171
8. ^[https://query.nytimes.com/gst/fullpage.html?res=940DE5D81E3DF933A25752C0A96E948260&scp=3&sq=Gutfreund&st=cse TOO FAR, TOO FAST; Salomon Brothers' John Gutfreund], The New York Times, January 10, 1988
9. ^[https://www.euromoney.com/article/b1c6gg5dh8qwhg/an-interview-with-john-gutfreund Euromoney: "An interview with John Gutfreund "] October 1 1979
10. ^{{cite web |url=http://mbaa.fuqua.duke.edu/ldi/press_johngutfreund.html |title=''Inaction Can be as Dangerous as Bad Action'', Aly Gonenne, Class of 2004, Duke Leadership Development Initiative |publisher=Mbaa.fuqua.duke.edu |date= |accessdate=2012-07-24 |deadurl=yes |archiveurl=https://web.archive.org/web/20100618163023/http://mbaa.fuqua.duke.edu/ldi/press_johngutfreund.html |archivedate=2010-06-18 |df= }}
11. ^The Economist: "John Gutfreund Resurrection: A Wall Street legend seeks to recapture former glories" May 8th 2003
12. ^John H. Gutfreund {{webarchive |url=https://web.archive.org/web/20070610022856/http://www.nutrition21.com/About/Board/Gutfreund.aspx |date=June 10, 2007 }}
13. ^{{cite web|url=http://phx.corporate-ir.net/phoenix.zhtml?c=62198&p=IROL-govBio&t=Regular&id=115099& |title=John H. Gutfreund's bio |publisher=Phx.corporate-ir.net |date= |accessdate=2012-07-24}}
14. ^[https://books.google.com/books?id=LeUCAAAAMBAJ&pg=PA27&lpg=PA27&dq=Joyce+Low+gutfreund New York Magazine: "Hard to be Rish" by John Taylor] Jan 11, 1988
15. ^[https://www.nytimes.com/1998/05/03/business/a-fallen-king-in-search-of-a-lesser-throne.html?pagewanted=all&src=pm New York Times: "A Fallen King In Search of a Lesser Throne" By PETER TRUELL] May 03, 1998
16. ^People: "The Party's Over" By Karen S. Schneider September 9, 1991
17. ^People: "Marriage with a Midas Touch" By Elizabeth Sporkin May 07, 1990
18. ^[https://www.nytimes.com/1985/09/17/arts/the-social-scramble-is-on.html New York Times: "THE SOCIAL SCRAMBLE IS ON" by Charlotte Curtis - Cultural Desk] September 17, 1985
19. ^New York Observer: "Consummate Hostess Susan Gutfreund Advises Wall Street Wives to Stay Home" By Irina Aleksander May 5, 2009
20. ^[https://www.wsj.com/articles/john-gutfreund-former-king-of-wall-street-dies-at-86-1457559848 Wall Street Journal John Gutfreund former king of Wall Street, dies at 86]
21. ^[https://www.washingtonpost.com/business/john-gutfreund-king-of-wall-street-who-helped-transform-salomon-brothers-dies-at-86/2016/03/09/138d0738-e65c-11e5-a6f3-21ccdbc5f74e_story.html John Gutfreund, ‘King of Wall Street’ who helped transform Salomon Brothers, dies at 86], Washington Post

External links

  • John Gutfreund is the former CEO of Salomon Brothers
  • [https://web.archive.org/web/20080919225532/http://www.charlierose.com/guests/john-gutfreund John Gutfreund's video interview]
  • [https://www.pbs.org/nbr/site/onair/transcripts/081002b/ Nightly Business Report Interview -- John Gutfreund of Gutfreund & Company Examines The Financial Crisis]
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13 : 1929 births|2016 deaths|Jewish American bankers|American financial company founders|American financiers|American investors|American army personnel of the Korean War|American stock traders|Businesspeople from New York City|Oberlin College alumni|People from Scarsdale, New York|Lawrenceville School alumni|United States Army soldiers

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