Albert C. Simmonds Jr.
Albert Carleton Simmonds Jr. | |
|---|---|
| Born | August 15, 1902 Simmesport, Louisiana, U.S. |
| Died | June 21, 1963 (aged 60) Manhattan, New York City, U.S. |
| Occupation | Banking executive |
| Years active | 1925–1963 |
| Known for | President, CEO, and chairman of the Bank of New York |
Albert Carleton Simmonds Jr. (August 15, 1902 – June 21, 1963) was a prominent figure in American banking.
Early life
Born in Simmesport, Louisiana, Simmonds was the firstborn son of Albert Carleton Simmonds and Nonie Adela (Butler) Simmonds. He completed his secondary education at Bolton High School in 1917 and obtained his undergraduate degree from Vanderbilt University in 1922. Following a year of teaching history in Georgia, he pursued and earned an MBA from Harvard University in 1925.
Career
Upon finishing his graduate studies at Harvard, Simmonds began his professional journey with the Texas and Pacific Railway Company based in New York City. By 1930, he had transitioned to the Bank of New York, where he climbed the corporate ladder through positions such as assistant treasurer and vice president. In 1948, he assumed the role of President of the Bank of New York, taking over from John C. Traphagen. His career further advanced in 1957 when he became both CEO and chairman, a capacity in which he served until his passing in 1963. During his tenure, he championed strategic mergers and broadened the institution’s market reach.
In addition to his responsibilities at the bank, Simmonds held the presidency of the New York State Bankers Association during 1960 and 1961. He was also a trustee or director for various financial and insurance organizations, such as Greenwich Savings Bank, North American Reassurance Company, Celotex Corporation, American Casualty Insurance Company, Borden Company, and Valley Forge Insurance companies.
Personal life
On February 28, 1931, Simmonds married Mary Adelaide Harding (1904–1994) in Chicago, Illinois. She was the daughter of Victor M. Harding, an attorney from Hubbard Woods, Illinois. The couple resided at Indian Trail in Harrison, New York and had two children:
- Albert Carleton Simmonds III graduated from Yale University in 1959 and served as vice president at the Wyatt Company, an actuarial consulting firm located in Washington, D.C.. He married Barbara Smith.
- Diane Deblois Simmonds (1934–1934), who passed away during infancy.
Simmonds died at Presbyterian Hospital in Manhattan on June 21, 1963, and was interred at Greenwood Union Cemetery in Rye, New York. Following his death, his widow remarried in 1964 to Duncan M. Findlay, an insurance executive from Huntington, New York. Findlay’s previous marriage was to Eleanora H. Noyes, daughter of real estate developer Charles F. Noyes, who once held a stake in the Crown Building before its sale by Noyes and Joseph Durst in 1950.