Henry C. Alexander | |
|---|---|
| Born | Henry Clay Alexander (1902-08-01)August 1, 1902 |
| Died | December 14, 1969(1969-12-14) (aged 67) |
| Alma mater | Vanderbilt University (BA) Yale Law School (JD) |
| Occupations |
|
| Title | |
| Spouse | |
| Children | 4 |
Henry Clay Alexander (1 August 1902 – 14 December 1969) was an American banker who served as president, chairman, and CEO ofJ.P. Morgan & Co.[1][2]
Alexander was born on a farm inMurfreesboro, Tennessee, where his father ran a feed store.[1] He graduated fromVanderbilt University in 1923 andYale Law School in 1925.[3]
After his graduation from law school, Alexander joinedDavis, Polk, Wardwell, Gardiner & Reed in New York City, where he was made partner at age 32.[1][3] At Davis Polk, he served as counsel toJ. P. Morgan Jr. during theNye Committee investigations and hearings on the munitions industry.[1]
In 1939, he accepted a partnership at theHouse of Morgan at the age of 36, and became the fourth head of the bank afterJ. P. Morgan,J. P. Morgan Jr., and George Whitney.
In 1940, Alexander joined the Morgan bank with the securities firm Morgan, Stanley, and Co. to form the commercial bank and trust corporationJ.P. Morgan & Co.[1] He became the president and CEO in 1950 and chairman of the board in 1955.[1]
In his role as CEO, Alexander broke from Morgan's established model of eschewing the solicitation of new business, instead training and stationing a group of employees known as "bird dogs" around the United States to pursue clients.[4] In 1958, he publicly advocated for the reduction of income taxes in the United States as aneconomic stimulus in the wake of recession.[1]
Alexander is credited for revitalizingJ.P. Morgan & Co. with his aggressive approach to the development of new business,[1][5] and in 1959 he leveraged this influx of capital funds to merge with the Guaranty Trust Company, formingMorgan Guaranty and serving as its CEO and chairman.[1] At the completion of the merger, Morgan Guaranty controlled $512 million in capital funds, as opposed to J.P. Morgan & Co.'s $89 million.[1]
Alexander retired from Morgan Guaranty in 1967.[1]
Alexander served as vice chairman of theUnited States Strategic Bombing Survey in Europe duringWorld War II and earned aMedal of Merit for his service.[3][1] He also was the national chairman for the American-Korean Foundation.[6]
In addition to his career in banking, Alexander served of the board of directors ofGeneral Motors, theAmerican Viscose Corporation, andStandard Brands. He was a trustee on the boards ofPresbyterian Hospital,Vanderbilt University, theMetropolitan Museum of Art, and theAlfred P. Sloan Foundation.[1]
Alexander married Janet Hutchinson 1934.[7] They had four children.[1]