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

stockbroker A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks ...

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 an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for ...

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

chrome Chrome may refer to: Materials * Chrome plating, a process of surfacing with chromium * Chrome alum, a chemical used in mordanting and photographic film Computing * Google Chrome, a web browser developed by Google ** ChromeOS, a Google Chrome- ...

and

gold Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile ...

mining operations in the

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

. 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 A medication (also called medicament, medicine, pharmaceutical drug, 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 medical field and ...

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 ''cabe ...

. 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 land and the sale of developed land or parcels to others. R ...

company. He was a major benefactor to

Columbia-Presbyterian Medical Center NewYork-Presbyterian/Columbia University Irving Medical Center (NYP/CUIMC), also known as the Columbia University Irving Medical Center (CUIMC), is an academic medical center and the largest campus of NewYork-Presbyterian Hospital. It includes C ...

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

Thoroughbred The Thoroughbred is a horse breed best known for its use in horse racing. Although the word ''thoroughbred'' is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed. Thoroughbreds are ...

horse racing.

Personal life

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

Irish Irish may refer to: Common meanings * Someone or something of, from, or related to: ** Ireland, an island situated off the north-western coast of continental Europe ***Éire, Irish language name for the isle ** Northern Ireland, a constituent unit ...

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 1.3 billion baptized Catholics Catholic Church by country, worldwide . It is am ...

. Allen was a non-practicing

Unitarian Unitarian or Unitarianism may refer to: Christian and Christian-derived theologies A Unitarian is a follower of, or a member of an organisation that follows, any of several theologies referred to as Unitarianism: * Unitarianism (1565–present ...

.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. Herbert A. Allen Jr. is an American businessman and former president of Allen & Company. Biography Herbert Allen Jr. is the son of Kathleen and Herbert A. Allen Sr. His father was a high school drop out and stock trader who joined

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