Herbert A. Allen Sr. (February 13, 1908 – January 18, 1997) was an American

stockbroker A stockbroker is an individual or company that buys and sells stocks and other investments for a financial market participant in return for a commission, markup, or fee. In most countries they are regulated as a broker or broker-dealer and ...

Biography

A partner in

Allen & Company Allen & Company LLC is an American privately held boutique investment bank based at 711 Fifth Avenue, New York. The firm specializes in real estate, technology, media and entertainment. History Founded in 1922 by Charles Robert Allen, Jr., he ...

with his older brother, Charles Robert Allen Jr., for more than fifty-five years. They were one of the first in the industry to specialize in corporate takeovers. One of the wealthiest figures on

Wall Street Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...

, in 1956 he was appointed chairman of Benguet Consolidated Mining Co. which had chrome and

gold Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...

mining operations in the

Philippines The Philippines, officially the Republic of the Philippines, is an Archipelagic state, archipelagic country in Southeast Asia. Located in the western Pacific Ocean, it consists of List of islands of the Philippines, 7,641 islands, with a tot ...

. Among his other investments, the Allen brothers' company held an eighty percent share position in Ogden Corporation as well as a substantial holding in

pharmaceutical Medication (also called medicament, medicine, pharmaceutical drug, medicinal product, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy ( pharmacotherapy) is an important part of the ...

manufacturer,

Syntex Corporation Laboratorios Syntex SA (later Syntex Laboratories, Inc.) was a pharmaceutical company formed in Mexico City in January 1944 by Russell Marker, Emeric Somlo, and Federico Lehmann to manufacture therapeutic steroids from the Mexican yams called ''ca ...

. He also controlled the

Irvine Ranch The Irvine Company LLC is an American private company focused on real estate development. It is headquartered in Newport Beach, California, with a large portion of its operations centered in and around Irvine, California, a planned city of more ...

in California, which was converted into a substantial

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parce ...

company. He was a major benefactor to

Columbia-Presbyterian Medical Center Columbia University Irving Medical Center (CUIMC) is the academic medical center of Columbia University and the largest campus of NewYork-Presbyterian Hospital. The center's academic wing consists of Columbia's colleges and schools of Physician ...

, which named a community hospital in honor of the family. Herbert Allen became a major participant in

Thoroughbred The Thoroughbred is a list of horse breeds, horse breed developed for Thoroughbred racing, horse racing. Although the word ''thoroughbred'' is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thorough ...

horse racing Horse racing is an equestrian performance activity, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its bas ...

Personal life

He was married to Ethel Strong,USA Today: "Monet fetches $43M for NY school" by Greg Shillinglaw
November 12, 2012 an Irish

Catholic The Catholic Church (), also known as the Roman Catholic Church, is the List of Christian denominations by number of members, largest Christian church, with 1.27 to 1.41 billion baptized Catholics Catholic Church by country, worldwid ...

. Allen was a non-practicing Unitarian.New Yorker Magazine: "THE CONSIGLIERE - There are big decisions yet to be made in the MCA-Seagram deal, and they may all involve Herbert Allen" BY KEN AULETTA
MAY 22, 1995 , ''"Herbert spent a good part of his childhood in the leafy Westchester suburb of Irvington. His father's mother "was Jewish--we think," Allen says. His father became a nonpracticing Unitarian--an agnostic, that is. Herbert's mother was an Irish Catholic, and she had her daughter and her son baptized in the church, but, like his father, Herbert abhorred the structure and the discipline of formal religion. "It's like digging potatoes," he says. "You can do it one day and then you get the idea."'' They had two children, Herbert Allen Jr. and Susan Allen.

References

1908 births 1997 deaths American stockbrokers American financiers American racehorse owners and breeders 20th-century American businesspeople Allen family (investments) {{US-business-bio-1900s-stub