Douglas 'Sandy' Warner (born June 9, 1946 as Douglas Alexander Warner III but widely known as "Sandy") is an American banker who joined the Morgan Guaranty Trust Company of New York dropped out of college in 1968 as an assistant officer and promoted to become chairman of the board of JP Morgan & Co Inc. in 2000. Among his many achievements, Warner is perhaps best known for pioneering the sale of 2000 J P Morgan & Co to Chase Manhattan Bank for $ 30.9 billion.
Video Douglas A. Warner III
Biography
Early life
Douglas Alexander Warner III was born on June 9, 1946 in Cincinnati, Ohio as the eldest to Douglas Alexander Warner Jr.. and Eleanor (Wright) W. Warner. He has a brother, Gordon, and a sister, Marjorie. Warner comes from money, growing up on the Indian hillside in an area with families with local social standing. For example, Warner's father served as guardian of the Cincinnati Music Hall Association and the Museum of Art and led United Appeal one year. Grandfather Warner (and namesake) runs his own insurance company and is active in the local golf environment. Warner's grandmother was the daughter of a wealthy Cincinnati businessman named J. Stacey Hill, who is president of a luxury hotel in Cincinnati with thousands of rooms called Hotel Gibson.
In 1960 the Warner family sent a 14-year-old Warner 500 miles away from his Ohio home to The Hill School, a boarding school dormitory school in Pottstown, Pennsylvania (it acknowledged only boys at the time); Warner's father graduated from the same school in 1937. While a student at The Hill, Warner played junior hockey from 1960-61, university junior hockey (JV) 1961-62, and university hockey 1962-64. Warner graduated from there in 1964, the same year as an Academy Award-winning producer/director, Oliver Stone.
Education and career
From The Hill School, Warner enrolled at Yale University, the same school that his father and uncle attended. In 1964, Warner entered Yale University at the age of 18 as a pre-medical student. At age 18, Warner is the age of concept but most likely holds a classification of the 2-S Selective System (lecture delay) as a student at Yale University. During his time at Yale, Warner became friends with future President George W. Bush through Yale ice hockey player then Roland W. Betts - now owner of Chelsea Piers Sports worth millions of dollars & amp; Entertainment Complex. This friendship will prove valuable when President Bush then appoints Warner as a financial advisor to the transition team of President-elect Bush in 2000.
At the height of the Vietnam war in the United States in May 1968, Warner graduated from Yale University with a B.A. Degree and intended to go to Yale medical school after leaving Yale scholar. Without a lecture delay, Warner will most likely be classified as 1-A, that is, classified as available immediately to military service. For example, President Bush was classed as 1-A on Bush's graduation from Yale in May 1968 and was accepted at the Texas Air Force National Guard at the height of the ongoing Vietnam War.
With the Vietnam war and the choice of Yale's medical school facing Warner, Warner searched for a third option based on the advice of his father, an insurance man from Cincinnati, Ohio. Warner's father advised Warner to go into business to expand the "breadth" and then Warner entered a management training program at the Morgan Guaranty Trust Company in New York City. At that time, the Morgan Guaranty Trust Company was a wholly owned subsidiary of J.P. Morgan Chase & amp; Co. (formerly J.P. Morgan & Co. Incorporated). Over the next seven years, Warner quickly advanced from assistant officers (1968-1970), through assistant treasurers (1970-1972) and assistant Vice President (1972-1975), became Vice President in 1975.
On May 13, 1977, Warner married Patricia G. Grant and produced four children, Alexander, Katherine, Michael, and Alice (deceased), and now, with Patricia's brother, Thomas, resident of the Locust Valley, N.Y.
In 1983, at the age of 37, Warner moved to London, England and was appointed Senior Vice President. First, Warner was responsible for the banking operations of the United Kingdom and Scandinavia and later became head of oil and gas loans for the region. In becoming general manager of the London office and Morgan's senior executive in Britain in 1986, Warner received extensive experience in US and international corporate finance.
In 1987, Warner was promoted to Executive Vice President and returned to New York City to take over the finances of North and South American companies and, later that year, from all groups around the world.
In 1989, Warner became Managing Director of the Morgan Guaranty Trust Company and was elected president and a director in 1990. After promotion in various positions in London and New York City, Warner replaced Dennis Weatherstone in 1995 as Morgan's youngest CEO on age 49. From 1995 to 2000, Warner served as chairman and chief executive officer. In 1999, Warner was ranked 14th of the "Top 25 Paying Banking Executives in 1999" with total compensation for the year of US $ 9,916,151. In 2000, Warner was named as a possible candidate for Secretary of Treasury Bush along with Enron's head Kenneth Lay and others. However, Warner was appointed chairman of the J.P. Morgan Chase & amp; Co., The Chase Manhattan Bank and the Morgan Guaranty Trust Company in New York, NY in 2000 and served there until his retirement on September 7, 2001. Instead, President Bush was named Warner as financial advisor to the transition team of President-elect Bush in 2000.
merger and pension 2000
Warner is probably best known for pioneering the sale of J P Morgan & amp; Co to Chase Manhattan Bank through its CEO, William Harrison, for $ 30.9 billion.
In his retirement, Warner is the director of Anheuser-Busch Companies, Inc. and Motorola, Inc., a member of the Advisory Board of The Bechtel Group, Inc., chairman of the Memorial Board and Supervisory Board of the Sloan -Kettering Cancer Center, serves as Chairman of the General Electrical Audit Committee, and serves both the General Electricity Nomination Committee and the Governance Committee and Development of Company Management and Compensation. Warner is a member of the Business Council, trustee of the Pierpont Morgan Library, and a member of the Committee to Encourage Corporate Philanthropy (CECP). Among pensions like that, Warner enjoys golf, skiing, and photo shoots as a member of Seminole Golf Club Seminole Golf Club, Links Club, River Club, Meadowbrook Club (Long Island, New York), Augusta National Golf Club, and Wequetonsing Golf Club (Harbor Springs, MI).
Warner was recently elected for a coveted six-year term at Yale Corporation, Yale University government agency.
Maps Douglas A. Warner III
Business heritage
Analysts say that Mr. Warner was a key figure throughout the 1980s and 1990s in the transformation of J.P. Morgan from a commercial bank to an investment banking company. For example, J.P. Morgan was the first commercial bank since the 1930s to be given the power to assume debt and equity securities. Under Warner, the company terminated the security of lifelong employment as a result of the 1998 restructuring. One of the greatest cultural marks in J.P. Morgan is the creation of the "House Arrests" group, a dozen senior executives who meet each month to discuss management issues.
Philanthropy
- The faithful Dana Hill School Fund donor, Warner funded the Douglas A. Warner Chapel Program Fund in honor of her father, the late Douglas A. Warner Jr. '37. Warner also serves The Hill School as a term and guardian of the company. Warner gave $ 100,000 to replace a hockey ice rink.
- Warner is a member of the Business Council, trustee of the Pierpont Morgan Library, and a member of the Committee to Encourage Corporate Philanthropy (CECP).
Awards
In 1998, Warner was invited as a lecturer at Gordon Grand Fellow at Yale University, and in 2001, he was awarded the Leadership Award from The Hill School. As an alumnus of The Hill School, Warner has proven himself "to be a model leader and a true model for students in his vocation."
Footnotes and references
See also
- Biography
External links
- Douglas Warner III, Distinguished Lecture Series Photo Gallery
- The Hill School - Leadership/Sixth Form Leadership Award
- The following article has the most in-depth information on Warner: Teitelman, Robert. (March 1996). Institutional Investors. Morgan entered the Warner era. (J.P. Morgan and Co. under Chairman Sandy Warner) (Cover Story). Volume 30; Issue 3; Pg. 26.
Source of the article : Wikipedia
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