Peter J. Tobin (born 1944 in
Bronx
The Bronx ( ) is the northernmost of the five Boroughs of New York City, boroughs of New York City, coextensive with Bronx County, in the U.S. state of New York (state), New York. It shares a land border with Westchester County, New York, West ...
, New York) is an American businessman and philanthropist. He has a wife Mary, a son Peter, and a daughter Kristin. He graduated with his Bachelor of
Business Administration
Business administration is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization.
Overview
The administration of a business includes the performance o ...
at
St. John's University in 1965. Tobin was most recognized as the
chief financial officer
A chief financial officer (CFO) is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances; i.a.: financial planning, management of financial risks, ...
of
Chase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding ...
and CFO of
Chemical Bank
Chemical Bank, headquartered in New York City, was the principal operating subsidiary of Chemical Banking Corporation, a bank holding company. In 1996, it acquired Chase Bank, adopted the Chase name, and became the largest bank in the United Stat ...
. He donated a generous amount to St. John's University, where the business school was renamed in his honor. He has led several companies through successful mergers and acquisitions and has had a very successful career.
Biography
Early life
Peter J. Tobin was born and raised in the
Bronx
The Bronx ( ) is the northernmost of the five Boroughs of New York City, boroughs of New York City, coextensive with Bronx County, in the U.S. state of New York (state), New York. It shares a land border with Westchester County, New York, West ...
borough of New York City by his two
Irish immigrant parents. After graduating from St. Nicholas of Tolentine in the Bronx, he planned to work during the day and attend school at night at
Manhattan College
Manhattan University (previously Manhattan College) is a private, Catholic university in New York City. Originally established in 1853 by the De La Salle Christian Brothers (Institute of the Brothers of the Christian Schools) as an academy fo ...
. He was offered a full tuition scholarship from
St. John's University through his local parish and decided to attend school there. He was unsure at the time about a field of study, but a quick influence from one of his professors made him enroll as an accounting major at the College of Business Administration. Tobin graduated with a bachelor's degree from St. John's University in 1965. In 1966, Tobin married Mary Gamble of the Bronx, who he met at a dance in
Yonkers
Yonkers () is the List of municipalities in New York, third-most populous city in the U.S. state of New York (state), New York and the most-populous City (New York), city in Westchester County, New York, Westchester County. A centrally locate ...
and felt instantly in love.
Corporate life
After graduating from St. John's University in 1965, Tobin brought the school's
Vincentian values to the corporate world. He began his career at
Peat, Marwick, Mitchell & Company, where he stayed until 1972 when he moved to
Manufacturers Hanover Trust Branch Bank. There, he quickly moved up the corporate ladder, making it to senior Vice President by 1981, and named the CFO in 1985.
In 1991, Manufacturers Hanover Trust Branch Bank merged with Chemical Bank, and he remained the CFO. Five years later, Tobin played a pivotal role in the purchase of Chase Manhattan Bank. It was decided to drop the name Chemical Bank because Chase was better known around the world. At Chase, he remained the CFO for one year and then retired.
After his retirement in 1997, he became one of the most sought after banking professionals in the world. He became a dean at St. John's University, and continued his business role by serving on multiple corporate boards.
St. John’s University
In 1998 Tobin assumed the deanship at the College of Business at St. John's. During his time there he added 13 new programs, hired new faculty and renewed
AACSB
The Association to Advance Collegiate Schools of Business (AACSB) is an American professional and accreditation organization. It was founded as the American Assembly of Collegiate Schools of Business in 1916 to provide accreditation to business ...
accreditation by the Internal Association for Management Education.
In 1999, Tobin and his wife Mary made a substantial donation of $10.25 million to St. John's University. The business school was then renamed to Peter J. Tobin College of Business for his generosity. This was the largest donation in the school's 129-year history. He was honored with the Spirit of Service Award and the honorary degree of Doctor of Commercial Science. He was also awarded the highest award that can be given to alumni, the Medal of Honor in 2000 by
Donald J. Harrington, President of St. John's University.
Current
Tobin continues to be active in the business community,
philanthropy
Philanthropy is a form of altruism that consists of "private initiatives for the Public good (economics), public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private goo ...
. He has been a director at
AllianceBernstein
AllianceBernstein Holding L.P. (AB) is a global asset management firm providing investment management and research services worldwide to institutional, high-net-worth and Investor, retail investors.
AllianceBernstein's headquarters are located ...
since 2000,
AXA
Axa S.A. is a French multinational insurance corporation headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services via its subsidiaries. As of 2024, it is the fourth largest financi ...
Financial since 1999, and
CIT Group
CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring, cash management, treasury management, mortgage loans, Small Business Administration loans, le ...
since 2002. In addition to being on these boards Tobin is a member of the
New York City Independent Budget Office Advisory Board and on the board of the
H.W. Wilson Company.
References
External links
The Tobin StorySt. John's University , Catholic, Vincentian, Metropolitan, Global
{{DEFAULTSORT:Tobin, Peter J.
Living people
Place of birth missing (living people)
American philanthropists
St. John's University (New York City) alumni
American people of Irish descent
1943 births
American chief financial officers
New York (state) Republicans