John L. Weinberg

John Livingston Weinberg (January 25, 1925 – August 7, 2006) was an American banker and businessperson, running Goldman Sachs from 1976 to 1990.

John L. Weinberg
Born
John Livingston Weinberg

(1925-01-25)January 25, 1925
Scarsdale, New York
DiedAugust 7, 2006(2006-08-07) (aged 81)
Greenwich, Connecticut
NationalityUnited States
Alma materDeerfield Academy, Princeton University, Harvard Business School
OccupationInvestment banker
EmployerGoldman Sachs
Spouse(s)
Sue Ann Gotshal
(
m. 1952)
Children2[1]
Parent(s)Sidney J. Weinberg (senior partner, Goldman Sachs, 1930–69)

Early life

Weinberg was the son of Sidney Weinberg, a banker at Goldman Sachs, and was born and grew up in the Westchester County suburb of Scarsdale. He was educated at Deerfield Academy. He graduated with an A.B. in economics from Princeton University in 1948 after completing a senior thesis titled "Status and Functions of Corporate Directors."[2] He then attended Harvard Business School. He had served as a lieutenant in the U.S. Marines in World War II and was recalled for the Korean War.

Career

He joined Goldman Sachs in 1950 and rose to become a senior investment banker and chairman of the management committee, running the firm from 1976 to 1990.[3] At Goldman, he resisted taking the firm public, and during his tenure, Goldman refused to work on hostile takeovers.

He was a director of the Seagram drinks group, newspaper publisher Knight-Ridder, and the chemical firm Du Pont. He was a trustee of Princeton and New York-Presbyterian Hospital. He endowed the Weinberg Center for Corporate Governance at the University of Delaware.

He hired a man to keep his name and his firm's out of the press, and kept him off the full-time payroll (though he sat full-time at a desk in head office) so that if, improbably, a comment did slip out, it could be honestly dismissed as not coming from a Goldman Sachs employee.

Family and death

He died of complications following a fall at the age of 81. He and his wife Sue Ann Gotshal, daughter of Sylvan Gotshal (1897–1968),[4] lived in Greenwich, Connecticut, and had two children, son John S. Weinberg[5] and daughter Jean Weinberg Rose,[6] and five grandchildren, Annie, Peter, and Jack Weinberg and Johnny and Emily Rose.[7][8] His son followed family tradition with Goldman Sachs and was vice chairman from June 2006 to October 6, 2015.[9]

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References
  1. "John L. Weinberg". nndb.com. Retrieved 2015-04-08.
  2. Weinberg, John Livingston (1948). "Status and Functions of Corporate Directors". Cite journal requires |journal= (help)
  3. "John L. Weinberg, 81; Longtime Goldman Sachs Executive". Los Angeles Times. 2006-08-10. Retrieved 2020-02-10.
  4. Biographical Dictionary of American Business Leaders, Volume 4, p. 1584, at Google Books
  5. "Amy Shepherd Bride in Tenafly". The New York Times. 1984-03-04. ISSN 0362-4331. Retrieved 2020-02-10.
  6. "WEDDINGS; Jean H. Weinberg, Jeffrey T. Rose". The New York Times. 1995-09-24. ISSN 0362-4331. Retrieved 2020-02-10.
  7. Jr, Landon Thomas (2006-08-09). "John L. Weinberg, 81, Former Leader of Goldman, Dies". The New York Times. ISSN 0362-4331. Retrieved 2020-02-10.
  8. "John Weinberg Obituary". Retrieved 2020-02-10.
  9. "John S. Weinberg". www.bloomberg.com. Retrieved 2020-02-10.
Business positions
Preceded by
John C. Whitehead		 Chairman and CEO, Goldman Sachs
1976–1990		 Succeeded by
Robert Rubin
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