John R. Shad

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John R. Shad

John R. Shad was a Wall Street banker, lawyer and former U.S. naval officer who served as chairman of the U.S. Securities & Exchange Commission in the 1980s. Shad was the first Wall Street banker to serve as SEC chairman in over 50 years at the time.[1]

Before joining the SEC, Shad had been vice chairman of the securities firm E.F. Hutton & Company Inc.

Schad died in 1994 at the age of 71.

Background

Shad was born in Utah and raised in California and started his career at Value Line, Inc. as a securities analyst in 1949 and then later at an early version fo Shearson.

He was recruited by E.F. Hutton to join the firm in 1963 and quickly rose as a deal-maker. He focused on second-tier, smaller companies that were unattractive to the bigger, older investment banking firms.

He rose to vice chairman at E.F. Hutton, but lost out on a bid to become chairman to west coast executives.

Shad was a life-long Republican, and was an early supporter of Ronald Reagan for the presidency in 1980. Shad headed Reagan's New York fundraising operation for the 1980 election. Reagan then appointed Schad to be the chairman of the SEC, where he promoted free-market ideas and fostered deregulation.

He replaced Harold Williams as chairman of the SEC.[2]

Education

Shad had degrees from the University of Southern California, the Harvard Business School and the New York University Law School.

References

  1. John S. R. Shad Dies at 71; S.E.C. Chairman in the 80's. New York Times.
  2. John Shad, a vice chairman of the E.F. Hutton. UPI.