J. Carter Bacot
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John Carter Bacot (; February 7, 1933 – April 7, 2005) was
president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university *President (government title) President may also refer to: Arts and entertainment Film and television *'' Præsident ...
of The Bank of New York for eight years and he was
chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...
and
CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...
for sixteen years. He remained on the Board of Directors until 2003.


Early life

Bacot spent his early years in
Utica, New York Utica () is the county seat of Oneida County, New York, United States. The tenth-most populous city in New York, its population was 65,283 in the 2020 census. It is located on the Mohawk River in the Mohawk Valley at the foot of the Adiro ...
. After graduating from
Hamilton College Hamilton College is a Private college, private Liberal arts colleges in the United States, liberal arts college in Clinton, Oneida County, New York, Clinton, New York. It was established as the Hamilton-Oneida Academy in 1793 and received its c ...
in 1955 and from
Cornell Law School Cornell Law School is the law school of Cornell University, a private university, private, Ivy League university in Ithaca, New York. One of the five Ivy League law schools, Cornell Law School offers four degree programs (Juris Doctor, JD, Maste ...
in 1958. He worked briefly for a Utica law firm.


Career

Bacot joined The Bank of New York in 1960. He was named vice chair of the company in 1975 and president in 1979. Following the death of Elliott Averett, was the chairman and chief executive from 1982 until 1998 and remained on the board until 2003. While Bacot was the chairman, the bank's assets increase from $11.5 billion to $60 billion. Also, the bank's net annual income increased from $58 million to $1.1 billion. On April 7, 2005, The Bank of New York Company announced that Bacot had died earlier that day from cardiac arrest at his home in
Montclair, New Jersey Montclair is a Township (New Jersey), township in Essex County, New Jersey, Essex County in the U.S. state of New Jersey. Situated on the cliffs of the Watchung Mountains, Montclair is a commercial and cultural hub of North Jersey and a diverse ...
, at age 72. He had a forty-three-year career at The Bank of New York.


Personal life

Bacot died on April 7, 2005, due to cardiac arrest. He is survived by his wife, Shirley Schou; two daughters, Susan Bacot and Betsy Bacot-Aigner; and two grandsons.


References

{{DEFAULTSORT:Bacot, J. Carter 1933 births 2005 deaths American chief executives of financial services companies Hamilton College (New York) alumni Cornell Law School alumni Place of death missing 20th-century American businesspeople American chief operating officers