From Wikipedia, the free encyclopedia
American banker (1926?1995)
Lewis Preston
|
|---|
 |
|
|
In office
September 1, 1991 ? May 4, 1995
On leave: February 1, 1995 ? May 4, 1995
|
| Preceded by
| Barber Conable
|
|---|
| Succeeded by
| Ernest Stern (acting)
|
|---|
|
|
|
| Born
| (
1926-08-05
)
August 5, 1926
New York City, U.S.
|
|---|
| Died
| May 4, 1995
(1995-05-04)
(aged 68)
Washington, D.C., U.S.
|
|---|
| Resting place
| Locust Valley Cemetery
,
Locust Valley, New York
, U.S.
|
|---|
| Spouse
| Patsy Pulitzer
|
|---|
| Education
| Harvard University
(BA)
|
|---|
|
Lewis Thompson Preston
(August 5, 1926 ? May 4, 1995) was an American banker. He was
President
of the
World Bank
from September 1991 until his death in May 1995.
[1]
[2]
Life and career
[
edit
]
Born New York City, Preston was the son of Lewis T. and Priscilla Baldwin Preston.
[2]
His father was a
World War I flier
and a well-known hunter.
[2]
His grandfather was a partner in
Standard Oil
.
[2]
Part of his youth was spent living in Paris.
[3]
He served in the
US Marines
during World War II in the Pacific and as an aide to Navy Secretary
James Forrestal
who was a friend of his mother.
[3]
He graduated from
Harvard University
with a degree in history in 1951, and was at one point during his education the captain of Harvard's hockey team.
[3]
He was chosen for the
United States men's national ice hockey team
, but never ended up competing in the Olympics.
[3]
Preston worked at
J.P. Morgan & Co.
and its subsidiary
Morgan Guaranty Trust Company
for forty years.
[2]
His first major contribution to the company was in the mid-1960s when he convinced the company to use trade in the newly formed Eurodollar market as source of liquidity; a move which greatly improved the prosperity of the company.
[2]
In 1968 he was appointed vice president in charge of international banking, and under his tenure over half of the company's earnings came from the international banking sector in the 1970s.
[2]
After eight years in that position he became vice chairman of the board of directors in 1976, and then president of the board in 1978.
[2]
In 1980 Preston was appointed
CEO
of J.P. Morgan & Co.
[2]
He helped the company weather the storm of
Silver Thursday
in 1980 which had a wide negative impact on the banking industry.
[2]
In 1984 he assisted in the bailout of
Continental Illinois
when it was seized by the
Federal Deposit Insurance Corporation
. He retired as CEO in February 1991.
[2]
From September 1991 until his death in Washington D.C. on May 4, 1995, he was
President
of the
World Bank
.
[2]
Personal life
[
edit
]
He was the second husband of
Patsy Pulitzer
.
[4]
References
[
edit
]
External links
[
edit
]
|
|---|
| International
| |
|---|
| National
| |
|---|
| Other
| |
|---|
