Date of Birth: September 14, 1929
Zodiac Sign: Virgo
Date of Death: March 9, 2016
Biography
John H. Gutfreund was an influential American businessman best known for his tenure as the CEO of Salomon Brothers, a leading investment bank. Born in New York City, Gutfreund rose through the ranks of Salomon Brothers, starting as a bond trader and eventually becoming the CEO in 1978. Under his leadership, the firm became a major force on Wall Street, pioneering several financial practices and innovations. He was often described as “the King of Wall Street” due to his significant impact on the finance industry. Gutfreund’s career was marked by both notable successes and controversies, including the 1991 U.S. Treasury bond scandal, which led to his resignation. Despite this, his legacy in the financial world remains substantial. After leaving Salomon Brothers, Gutfreund continued to work in finance as a consultant and advisor.
5 Interesting Facts about John Gutfreund
1. John Gutfreund was featured in Michael Lewis’s 1989 book “Liar’s Poker,” which provides an insider’s look at the culture of Salomon Brothers during his tenure.
2. He graduated from Oberlin College in Ohio, where he studied English literature before entering the world of finance.
3. Gutfreund was instrumental in the development of the mortgage-backed securities market.
4. He served in the U.S. Army during the Korean War before starting his career on Wall Street.
5. Gutfreund was known for his larger-than-life personality and leadership style, which left a lasting imprint on the culture of Salomon Brothers.
5 Most Interesting Quotes from John Gutfreund
1. “A trader is like a child, you give them a box and they will play in it.”
2. “The markets are driven by human emotions, and those emotions are what make the markets unpredictable.”
3. “In the bond business, you have to love the game more than the money.”
4. “Risk is a part of life, and it’s certainly a part of business.”
5. “Fortunes are made by buying low and selling too soon.”
Highest Net Worth Achieved
At the peak of his career, John Gutfreund’s net worth was estimated to be around $100 million.
Children
John Gutfreund had three children with his first wife, Susan Penn Gutfreund: Nicholas, John Peter, and Andrew.
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