Joseph M. Gregory

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Joseph M. Gregory

Joseph M. Gregory is a trader, investment banker and executive who served as president and chief operating officer of Lehman Brothers Holdings Inc. from 2004 until June 2008. He was a member of the firm's executive committee.[1]

On June 12, 2008, Gregory and Lehman CFO Erin Callan were removed from their positions with the company shortly after it was announced Lehman would post an unexpectedly large second-quarter loss of nearly $3 billion.[2]

Ian Lowitt, formerly chief administrative officer, was named the new CFO. Bart McDade was named the new COO and president at Lehman Brothers. Both Gregory and Callan would remain at the investment bank in other jobs.[3]

Background

From May 2002 until May 2004, Gregory was the firm's co-chief operating officer. From April 2000 until May 2002, he was the firm's chief administrative officer, and from 1996 to April 2000, he was head of the firm's Global Equities division, in charge of the overall equities business.

From 1991 to 1996, Gregory was co-head of the Lehman's Fixed Income division. From 1980 to 1991, he held various management positions in the fixed income division, including head of the firm's mortgage business.

Gregory joined Lehman in 1974 as a commercial paper trader. Gregory is a member of the National Advisory Board of The Posse Foundation, Inc. and the board of trustees of Harlem Children's Zone. He is vice chair of the trustees of Hofstra University and serves on the Finance, Endowment and Investment committees of the university.[4]

After the bankruptcy of Lehman, Gregory downsized his lifestyle by selling property including antiques, laying off household staff of 29 and selling his helicopter that he used to travel to Manhattan.[5][6][7][8]

His Bridgehampton home, listed for $32.5 million, sold for $20 million to Donny Deutsch.

Education

References

  1. Senior Management. Lehman Brothers.
  2. Erin Callan, Joseph Gregory Out at Lehman. NY Magazine.
  3. Lehman Demotes CFO Callan, Names New COO. Reuters.
  4. Joseph M Gregory. Forbes.
  5. The 'Bros' At Lehman Brothers: Where Are They Now?. Business Insider.
  6. Life as the wife of a Lehman Brothers banker. The Telegraph.
  7. Former Lehman president Joseph Gregory to auction off antique collection. The Telegraph.
  8. The Rage of the Previously Rich. NY Magazine.