Word: wriston
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Dates: during 1960-1969
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...combination of Government v. private borrowing," cautioned Walter B. Wriston, president of First National City Bank of New York, "already has caused interest rates for everyone to rise. It will get worse, much worse, in the absence of the tax surcharge." And Sidney J. Weinberg, a senior partner of Goldman, Sachs & Co., prophesied "catastrophic developments in capital and credit markets" without...
...board, as expected, named Moore chairman. Then Thomas R. Wilcox, 50, the peppery executive vice president in charge of the bank's domestic branches and a leading candidate for Moore's job, was made a vice chairman. But the plum went to Walter B. Wriston, 47, executive V.P. for overseas operations. Since Moore himself was only three years from retirement, said the bank, new President Wriston would lose no time getting into "the maximum possible responsibilities...
Educated at Wesleyan and the Fletcher School of Law and Diplomacy, Wriston has had a hand in much of First National City's expansion. The son of Henry Merritt Wriston, longtime (1937-55) president of Brown University, he joined the bank in 1946 after a stint in the foreign service and wartime Army duty, has headed the bank's sprawling overseas division since 1959. Amiably informal and scornful of organization charts-"We all work together," he says, "and when I'm in trouble I ask somebody, and when I'm not I don't"-Wriston...
Such innovations have necessarily put the heat on the bank's perennial rival, the Chase, which has yet to match First National City's steps into traveler's checks and travel-and-entertainment credit cards, has far fewer suburban and overseas branches. Part of Wriston's franchise will be to keep the ideas coming-within limits. He still remembers Moore's whimsical advice: "Be so brave as to scare the Chase, but never be so brave as to scare...
...women) Milwaukee-Downer College in Milwaukee. Downer aims to sell its 43-acre campus for $10 million to the bulging Milwaukee branch of the University of Wisconsin. Lawrence is already distinguished as a proving ground for university presidents: its own past heads include Brown's former president Henry Wriston, Harvard's president Nathan M. Pusey and Duke's president Douglas M. Knight. Now, as a small university, it hopes to accomplish far more than it could as a small college...