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Alan C. Greenberg

alan c. greenberg, david c. greenberg dpm
Alan Courtney "Ace" Greenberg September 3, 1927 – July 25, 2014 was a Chairman of the Executive Committee of The Bear Stearns Companies, Inc

Contents

  • 1 Early life
  • 2 Education
  • 3 Career
  • 4 Personal life
    • 41 Death
  • 5 Bridge accomplishments
    • 51 Wins
    • 52 Runners-up
  • 6 Philanthropy
  • 7 References

Early lifeedit

Greenberg was born in Wichita, Kansas1 but raised in Oklahoma City in an upper middle-class Jewish family,23 one of three children of Theodore and Esther Greenberg4 His father owned a woman's clothing store and was part of an extended family that operated clothing stores4 in Kansas, Oklahoma and Missouri

Educationedit

Greenberg first attended the University of Oklahoma on a football scholarship Later injuring his back, he transferred to the University of Missouri receiving a BA in business in 1949 After graduating, Greenberg decided to pursue a career on Wall Street and accepted an offer from Bear Stearns He accepted a position as a clerk receiving a salary of $3250 per week2

Careeredit

Greenberg rose through the ranks of Bear Stearns eventually serving as its CEO from 1978 to 1993 and Chairman of the Board from 1985 to 2001 Greenberg also served as a non-executive director of Viacom He was the author of Memos from the Chairman, which is a compilation of memos he issued to the associates of Bear Stearns during his tenure as CEO

While serving as Chairman of the Executive Committee of Bear Stearns, Greenberg oversaw the collapse of the company in March 2008 He was subsequently involved in the talks with JPMorgan Chase which eventually bought out the failing company5 Fortune reported that Greenberg agreed to join JPMC as vice chairman of Bear's retail business6

In 1969, Greenberg hired James Cayne as a stockbroker at Bear Stearns By 1993, Cayne was CEO of Bear Stearns, a position he held until January 20087 just before the firm's demise in March 2008, and was succeeded by Alan Schwartz

Personal lifeedit

Alan Greenberg was married twice:

  • His first wife was Ann Greenberg8 whom he divorced in 1976 They have two children:2
    • Lynne Koeppel who was the first woman to own a seat on the American Stock Exchange She later gave up her seat to focus on raising her two children, Allison and Melissa Frey2 In 1991, she divorced her first husband Jonathan Frey Jonathan and her father, Alan Greenberg engaged in a very public lawsuit over unpaid interest on a loan Greenberg had made to Frey for the purchase of the newly married couple's first home Greenberg eventually lost the lawsuit9 Lynne is remarried to Caleb Koeppel10
    • Ted Greenberg who works, as his father did, in risk arbitrage at Dresdner Kleinwort, a subsidiary of Dresdner Bank in New York City Ted is a graduate of Harvard University and was also a writer in the 1980s for Late Night with David Letterman on NBC2 Ted is married to Kathleen Marie Cigich maiden name Durst8
  • In 1987, he married 40-year-old Kathryn A Olson2 who is the Board Chair of Cardozo School of Law and the founder of the New York Legal Assistance Group
  • Greenberg is the uncle of Survivor: Tocantins runner-up Stephen Fishbach11 and theatre director and professor Dan Fishbach12

Deathedit

On 25 July 2014, Greenberg died of cancer4

Bridge accomplishmentsedit

Greenberg was an avid bridge player, having won the Reisinger Board-a-Match Teams in 1977 In 1981, he won the Maccabiah Games teams bridge tournament13 and was second in the Reisinger later that year

Winsedit

  • North American Bridge Championships 1
    • Reisinger 1 1977 14

Runners-upedit

  • North American Bridge Championships 1
    • Reisinger 1 1981 15

Philanthropyedit

Greenberg was a member of the Society of American Magicians In 1998, Greenberg was the subject of a 999-word profile in People Magazine that trumpeted his $1 million donation to New York City's Hospital for Special Surgery to underwrite sildenafil prescriptions for financially needy, impotent men

"You do some nutty things," Greenberg stated and he told People that his wife Kathryn told him, "you've made your money, and you can spend it any way you want" That philanthropic gesture topped the time Greenberg paid to repair the bathrooms at the Israel Museum in Jerusalem16

Referencesedit

  1. ^ Washington Post: "Alan C "Ace" Greenberg Who as Chief Executive Remade Bear Stearns Dies at 86" By Yalman Onaran July 25, 2014
  2. ^ a b c d e f "Where the Ace is King" Sarah Bartlett The New York Times June 11, 1989
  3. ^ "Private Sector; Tapping the Wall Street Melting Pot" Patrick McGeehan compiled by Rick Gladstone The New York Times November 25, 2001
  4. ^ a b c "Alan C Greenberg, 86, Dies; Led Bear Stearns in Good Times and Bad" Robert D McFadden The New York Times July 25, 2014
  5. ^ FRONTLINE interview: Inside the Meltdown Retrieved February 26, 2009
  6. ^ "JPMorgan plays its Ace – Daily Briefing" Fortune April 24, 2008 Formerly archived at moneycnncom
  7. ^ "Cayne to Step Down As Bear Stearns CEO" Kate Kelly The Wall Street Journal January 8, 2008
  8. ^ a b "WEDDINGS; Kathleen Cigich, Ted Greenberg" The New York Times October 21, 2001
  9. ^ "Three LA Mensch -keteers–Ginsburg, Shapiro, Siegel" Frank DiGiacomo The New York Observer March 9, 1998
  10. ^ Jeffrey Modell Foundation: "The Couple of the Year - JMF Salutes Lynne and Caleb Koeppel Spring 1999 Retrieved August 8, 2012
  11. ^ https://twittercom/stephenfishbach/status/493068540400783362
  12. ^ https://twittercom/danfishbach/status/492741528264007680
  13. ^ "Bridge: United States Team Gains a Strong Victory in Israel" Alan Truscott The New York Times July 20, 1981
  14. ^ "Reisinger Winners" PDF American Contract Bridge League 2013-12-06 p 6 Retrieved 2014-10-24 
  15. ^ "Reisinger Winners" PDF American Contract Bridge League 2013-12-06 p 6 Retrieved 2014-10-24 
  16. ^ Era ends: Bear Stearns chairman exits; Street won't soon see another Ace Greenberg

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