Difference between revisions of "John R. Shad"

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He rose to vice chairman at E.F. Hutton, but lost out on a bid to become chairman to west coast executives.
 
He rose to vice chairman at E.F. Hutton, but lost out on a bid to become chairman to west coast executives.
  
Shad was a life-long Republican, and was an early supporter of [[Ronald Reagan]] for the presidency in 1980.  Shad headed Reagan's New York fundraising operation for the 1980 election. Reagan then appointed Schad to be the chairman of the SEC, where he promoted free-market ideas and fostered deregulation.
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Shad was a life-long Republican, and was an early supporter of [[Ronald Reagan]] for the presidency in 1980.  Shad headed Reagan's New York fundraising operation for the 1980 election. Reagan then appointed Schad to be the chairman of the SEC, where he promoted free-market ideas of the University of Chicago and fostered deregulation.<ref>{{cite web|url=https://www.nytimes.com/roomfordebate/2014/09/14/pocketing-profits-or-reinvesting-them/to-boost-investment-end-sec-rule-that-spurs-stock-buybacks|name=To Boost Investment, End S.E.C. Rule That Spurs Stock Buybacks|org=New York Times|date=March 27, 2020}}</ref>
  
 
He replaced [[Harold Williams]] as chairman of the SEC.<ref>{{cite web|url=https://www.upi.com/Archives/1981/02/10/John-Shad-a-vice-chairman-of-the-EF-Hutton/7753350629200/|name=John Shad, a vice chairman of the E.F. Hutton|org=UPI|date=March 27, 2020}}</ref>
 
He replaced [[Harold Williams]] as chairman of the SEC.<ref>{{cite web|url=https://www.upi.com/Archives/1981/02/10/John-Shad-a-vice-chairman-of-the-EF-Hutton/7753350629200/|name=John Shad, a vice chairman of the E.F. Hutton|org=UPI|date=March 27, 2020}}</ref>

Revision as of 12:49, 27 March 2020

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John R. Shad

John R. Shad was a Wall Street banker, lawyer and former U.S. naval officer who served as chairman of the U.S. Securities and Exchange Commission in the 1980s. Shad was the first Wall Street banker to serve as SEC chairman in over 50 years at the time.[1]

Before joining the SEC, Shad had been vice chairman of the securities firm E.F. Hutton & Company Inc.

Schad died in 1994 at the age of 71.

Background

Shad was born on June 27, 1923 in Brigham City, Utah and raised in California and served in the U.S. Navy during World War II.[2]

He started his career at Value Line, Inc. as a securities analyst in 1949 and then later at an early version fo Shearson.

He was recruited by E.F. Hutton to join the firm in 1963 and quickly rose as a deal-maker. He focused on second-tier, smaller companies that were unattractive to the bigger, older investment banking firms.

He rose to vice chairman at E.F. Hutton, but lost out on a bid to become chairman to west coast executives.

Shad was a life-long Republican, and was an early supporter of Ronald Reagan for the presidency in 1980. Shad headed Reagan's New York fundraising operation for the 1980 election. Reagan then appointed Schad to be the chairman of the SEC, where he promoted free-market ideas of the University of Chicago and fostered deregulation.[3]

He replaced Harold Williams as chairman of the SEC.[4]

After being then then longest serving chairman of the SEC, Shad was nominated by President Ronald Reagan to be Ambassador to the Netherlands.

Education

Shad graduated with honors from the University of Southern California 1947, after a three year interruption for his service in the Navy during the war.

He earned a masters of business administration from Harvard Business School in 1949 and a law degree from the New York University Law School in 1959.

References

  1. John S. R. Shad Dies at 71; S.E.C. Chairman in the 80's. New York Times.
  2. Securities and Exchange Commission Chairman John Shad, who has. UPI.
  3. To Boost Investment, End S.E.C. Rule That Spurs Stock Buybacks. New York Times.
  4. John Shad, a vice chairman of the E.F. Hutton. UPI.