Harold Stanley (October 2, 1885 – May 14, 1963) was an American businessman and one of the founders of

Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

in 1935. For 20 years, he ran Morgan Stanley until he left the firm in 1955.

Early life

Stanley was born in Great Barrington, Massachusetts, the son of William Stanley, Jr. and Lila Courtney Stanley. William was an inventor with

General Electric General Electric Company (GE) was an American Multinational corporation, multinational Conglomerate (company), conglomerate founded in 1892, incorporated in the New York (state), state of New York and headquartered in Boston. Over the year ...

for whom the Stanley Works building was named in

Pittsfield, Massachusetts Pittsfield is the most populous city and the county seat of Berkshire County, Massachusetts, United States. It is the principal city of the Pittsfield, Massachusetts Metropolitan Statistical Area which encompasses all of Berkshire County. Pittsfi ...

. He graduated from the

Hotchkiss School The Hotchkiss School is a private college-preparatory day and boarding school in Lakeville, Connecticut. It educates approximately 600 students in grades 9–12, plus postgraduates. Founded in 1891, it was one of the first English-style boardi ...

in 1904 and

Yale University Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United Stat ...

in 1908. Harold Stanley was a member of the

Skull and Bones Skull and Bones (also known as The Order, Order 322 or The Brotherhood of Death) is an undergraduate senior Secret society#Colleges and universities, secret student society at Yale University in New Haven, Connecticut. The oldest senior-class ...

secret society.

Career

He became a vice-president of the bond department of the Guaranty Trust Company of New York in 1916, eventually spinning the division off into a separate and subsidiary securities company, the Guaranty Company, where he worked in cooperation with J. P. Morgan, Jr. In 1927, Morgan invited Stanley to become a partner in his firm, replacing

Dwight Morrow Dwight Whitney Morrow (January 11, 1873October 5, 1931) was an American businessman, diplomat, and politician, best known as the U.S. ambassador who improved U.S.–Mexico relations, mediating the religious conflict in Mexico known as the Crister ...

, who became the

United States Ambassador to Mexico The United States has maintained diplomatic relations with Mexico since 1823, when Andrew Jackson was appointed Envoy Extraordinary and Minister Plenipotentiary to that country. Jackson declined the appointment, however, and Joel R. Poinsett bec ...

. He made his name as a leader of the investment banking industry at J.P. Morgan, making the firm a strong player in securities offerings and especially the bond market, particularly after the Glass–Steagall Act separated commercial and investment banking. In 1935, along with Henry Sturgis Morgan,

J. P. Morgan John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era. As the head of the banking firm that ...

's grandson and J. P. Morgan Jr.'s son, he helped found Morgan Stanley to take up the securities business that had to be given up by J. P. Morgan, and became the firm's senior partner when it was reorganized from a corporation to a partnership in 1941. Stanley was influential in his testimony in the 1940s successfully defending the industry against government charges that it was anti-competitive.

Personal life

He married Edith Thurston, daughter of William Harris Thurston, in 1914. She died in 1934, and he married Louise Todd, widow of Seymour Parker Gilbert, in 1939. He had stepchildren, but no children from either of his marriages. He resided at 4 East 72nd Street on

Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...

Upper East Side The Upper East Side, sometimes abbreviated UES, is a neighborhood in the boroughs of New York City, borough of Manhattan in New York City. It is bounded approximately by 96th Street (Manhattan), 96th Street to the north, the East River to the e ...

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 ...

and died in Philadelphia in 1963.

Activities and interests

He was a member of the Links Club of New York, the National Golf Club, the

Racquet and Tennis Club The Racquet and Tennis Club, familiarly known as the R&T, is a private social and athletic club at 370 Park Avenue, between East 52nd and 53rd Streets in Midtown Manhattan, New York City. History The Racquet Court Club was organized April 28 ...

, and the Yale Club. He was a director of many companies including the Shell Caribbean Petroleum Corporation. Stanley played

ice hockey Ice hockey (or simply hockey in North America) is a team sport played on ice skates, usually on an Ice rink, ice skating rink with Ice hockey rink, lines and markings specific to the sport. It belongs to a family of sports called hockey. Tw ...

at Yale University between 1906 and 1908 and later on the St. Nicholas Hockey Club in the American Amateur Hockey League.

Philanthropy

In 1940, he led the New York campaign to raise $1.5 million () for the United States Commission for the Care of European Children, a private organization providing relief to young war refugees.

References

External links

Harold Stanley at politicalfriendster

''New York Times'' obituary
1885 births 1963 deaths People from Great Barrington, Massachusetts Hotchkiss School alumni Morgan Stanley employees American financial company founders Yale Bulldogs men's ice hockey players Members of Skull and Bones St. Nicholas Hockey Club players {{US-business-bio-1880s-stub