Ferdinand A. Eberstadt (June 19, 1890 – November 11, 1969) was an American

lawyer A lawyer is a person who is qualified to offer advice about the law, draft legal documents, or represent individuals in legal matters. The exact nature of a lawyer's work varies depending on the legal jurisdiction and the legal system, as w ...

investment banker Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by unde ...

, and an important policy advisor to the United States government who was instrumental in the creation of the

National Security Council A national security council (NSC) is usually an executive branch governmental body responsible for coordinating policy on national security issues and advising chief executives on matters related to national security. An NSC is often headed by a n ...

and the

Central Intelligence Agency The Central Intelligence Agency (CIA; ) is a civilian foreign intelligence service of the federal government of the United States tasked with advancing national security through collecting and analyzing intelligence from around the world and ...

Biography

Ferdinand Eberstadt graduated from

Princeton University Princeton University is a private university, private Ivy League research university in Princeton, New Jersey, United States. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial ...

in 1913. At Princeton he developed a lifelong friendship with investment banker and future Secretary of Defense

James Forrestal James Vincent Forrestal (February 15, 1892 – May 22, 1949) was the last Cabinet (government), cabinet-level United States Secretary of the Navy and the first United States Secretary of Defense. Forrestal came from a very strict middle-cla ...

. After serving overseas in

World War I World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting to ...

, he set up a law practice in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

, providing legal services to members of the

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 ...

financial community. In 1923 he joined the prominent investment-banking firm of Dillon, Read & Co. where he earned wide respect for helping with the financing for the firm's 1925 acquisition and ultimate 1928 sale of Dodge Brothers Automobile Company to the

Chrysler Corporation FCA US, LLC, doing business as Stellantis North America and known historically as Chrysler ( ), is one of the " Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of ...

. Recognized for his negotiating skills in financial matters, Eberstadt was invited by the Hoover administration to participate in the 1929 World War I reparations conference in

Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...

as an assistant to

Owen D. Young Owen D. Young (October 27, 1874July 11, 1962) was an American industrialist, businessman, lawyer and diplomat at the Second Reparations Conference (SRC) in 1929, as a member of the German Reparations International Commission. He is known for th ...

. As an investment banker, Ferdinand Eberstadt was a key player in the efforts to restore confidence in the business community following the Wall Street crash of 1929 by putting together restructuring packages for small business. In 1931, he set up F. Eberstadt & Co., his own investment firm that dealt in the securities of a medium-sized businesses. Near the end of the decade, Eberstadt created the Chemical Fund that proved instrumental in getting investors to see

mutual fund A mutual fund is an investment fund that pools money from many investors to purchase Security (finance), securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in ...

s as a sound investment vehicle. As well, he helped pioneer the

leveraged buyout A leveraged buyout (LBO) is the acquisition of a company using a significant proportion of borrowed money (Leverage (finance), leverage) to fund the acquisition with the remainder of the purchase price funded with private equity. The assets of t ...

technique and his success made him one of the most respected financiers in the United States. In September 1942, Donald M. Nelson, the former vice-president of

Sears Roebuck Sears, Roebuck and Co., commonly known as Sears ( ), is an American chain of department stores and online retailer founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwa ...

, and Chairman of the United States War Production Board (WPB) called upon the skills of Ferdinand Eberstadt, appointing him Chairman of the Army and Navy Munitions Board and Vice Chairman of the War Productions Board. Eberstadt developed the organizational structure known as the "Controlled Materials Plan" that allowed the armed forces to prioritize their needs that in turn allowed the private sector to prioritize its production to meet the military's needs. At the end of the War, on behalf of

Secretary of the Navy The Secretary of the Navy (SECNAV) is a statutory officer () and the head (chief executive officer) of the Department of the Navy, a military department within the United States Department of Defense. On March 25, 2025, John Phelan was confirm ...

, James V. Forrestal, Eberstadt wrote what became known as the Eberstadt Report that identified a serious lack of coordination between the

, the

Federal Bureau of Investigation The Federal Bureau of Investigation (FBI) is the domestic Intelligence agency, intelligence and Security agency, security service of the United States and Federal law enforcement in the United States, its principal federal law enforcement ag ...

, the

State Department The United States Department of State (DOS), or simply the State Department, is an executive department of the U.S. federal government responsible for the country's foreign policy and relations. Equivalent to the ministry of foreign affairs o ...

, and the

military intelligence Military intelligence is a military discipline that uses information collection and analysis List of intelligence gathering disciplines, approaches to provide guidance and direction to assist Commanding officer, commanders in decision making pr ...

services. His Report led to the creation of the National Security Council. In 1946, Eberstadt served as assistant to Bernard M. Baruch on the

United Nations Atomic Energy Commission The United Nations Atomic Energy Commission (UNAEC) was founded on 24 January 1946 by the very first resolution of the United Nations General Assembly "to deal with the problems raised by the discovery of atomic energy." The General Assembly aske ...

. In 1948, he prepared a Report on the operations of the National Security Resources Board and the following year was named Chairman of the Commission on National Security Organization for the

Hoover Commission The Hoover Commission, officially named the Commission on Organization of the Executive Branch of the Government, was a body appointed by President of the United States, President Harry S. Truman in 1947 to recommend administrative changes in the ...

. Eberstadt maintained a residence in New York City but in 1927 purchased an estate on the peninsula at Lloyd's Neck on the north shore of

Long Island Long Island is a densely populated continental island in southeastern New York (state), New York state, extending into the Atlantic Ocean. It constitutes a significant share of the New York metropolitan area in both population and land are ...

called Target Rock Farm. It would become known for the magnificent gardens Eberstadt created. In 1967 he donated this property to the Federal government under the

Migratory Bird Conservation Act The Migratory Bird Conservation Act of 1929 () of February 18, 1929, (also known as the "Norbeck-Andresen Act") created the United States Migratory Bird Conservation Commission (MBCC) to consider and approve any areas of land and/or water recommend ...

. Today, it is known as the Target Rock National Wildlife Refuge and is operated by the

United States Fish and Wildlife Service The United States Fish and Wildlife Service (USFWS or FWS) is a List of federal agencies in the United States, U.S. federal government agency within the United States Department of the Interior which oversees the management of fish, wildlife, ...

. It is open to the public. The donated land was to be the formal legal basis that halted the proposed construction of a

nuclear power plant A nuclear power plant (NPP), also known as a nuclear power station (NPS), nuclear generating station (NGS) or atomic power station (APS) is a thermal power station in which the heat source is a nuclear reactor. As is typical of thermal power st ...

by the

Long Island Lighting Company The Long Island Lighting Company, or LILCO ("lil-co"), was an Electrical power industry, electrical power company and natural gas utility for Long Island, New York (state), New York, serving 2.7 million people in Nassau County, New York, Nassau, Su ...

in 1970. Eberstadt died as a result of cardiac problems at the

Walter Reed Army Medical Center The Walter Reed Army Medical Center (WRAMC), officially known as Walter Reed General Hospital (WRGH) until 1951, was the United States Army, U.S. Army's flagship medical center from 1909 to 2011. Located on in Washington, D.C., it served more ...

Washington, D.C. Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and federal district of the United States. The city is on the Potomac River, across from Virginia, and shares land borders with ...

in 1969, at age 79. Among his grandchildren is the writer Fernanda Eberstadt.

References

External links

Ferdinand Eberstadt Papers at the Seeley G. Mudd Manuscript Library, Princeton University
{{DEFAULTSORT:Eberstadt, Ferdinand 1890 births 1969 deaths New York (state) lawyers American bankers Philanthropists from New York (state) People from Lloyd Harbor, New York 20th-century American philanthropists Princeton University alumni 20th-century American lawyers