Armand G. Erpf
Armand Grover Erpf | |
|---|---|
| Born | Template:Birth date New York City, U.S. |
| Died | February 2, 1971 (aged 73) |
| Occupation(s) | Investment banker, philanthropist, art collector |
| Known for | Senior partner at Loeb, Rhoades & Co.; chair of Crowell-Collier Publishing Company; financer of New York magazine revival |
Armand Grover Erpf (December 8, 1897 – February 2, 1971) was a prominent American investment banker, philanthropist, and art enthusiast. He held the position of senior partner at Loeb, Rhoades & Co., chaired the Executive Committee of the Crowell-Collier Publishing Company, and played a vital role in financing the revival of New York magazine.
Early life and education
Erpf was born in New York City to parents Bartholomew Erpf and Cornelia von Greiner. He earned a Bachelor of Science degree from Columbia College in 1917.
Career
Starting his professional journey as assistant secretary at the Suffern Company, an importer specializing in manganese ore, Erpf advanced to become an officer and part-owner of C. E. Erpf & Co., a firm dealing in crude rubber brokerage, in 1919.
In 1923, he conducted an analysis of textile operations in Saxony, Germany, and the following year joined a management engineering firm where he worked as a statistician.
Erpf became part of Loeb, Rhoades & Co. in 1933 and rose to the rank of general partner by 1936. During World War II, he served as a colonel in the General Staff Corps stationed in the Western Pacific theater, earning the Legion of Merit for his service.
In 1956, after the cessation of Collier magazine publication, Erpf invested in the financially troubled Crowell-Collier Publishing Company. His leadership was instrumental in reversing the company's fortunes, transforming it from near insolvency to achieving a $4 million profit within five years. He orchestrated the strategic sale of Collier's Encyclopedia to finance the acquisition of Macmillan Inc. in 1960. Subsequently, Crowell-Collier expanded by acquiring Brentano's bookstore chain and the Berlitz School of Languages along with its publishing division, establishing itself as one of the foremost publishing houses in the United States.
Beginning in 1959, Erpf chaired Columbia Associates, an organization comprising Columbia University alumni and benefactors. His efforts were crucial in establishing and funding the Columbia Lectures in International Studies, an educational television series that premiered in 1962.
Following the shutdown of the New York World Journal Tribune in 1967, Erpf provided essential financial backing enabling Clay Felker to relaunch New York magazine; Felker referred to him as its "financial architect."
Erpf also contributed his expertise as a board member for both the Whitney Museum and Lincoln Center. In honor of his influence and achievements, John L. Loeb and colleagues endowed a $500,000 chair at Columbia Business School on Erpf’s seventieth birthday in 1967.
Recognized by Time magazine as "Wall Street's closest approximation of Renaissance man" for his unique combination of cultural patronage and business acumen, Erpf maintained a private profile and rarely gave interviews.
Art collection
An avid collector of modern art, Erpf commissioned British sculptor Michael Ayrton to create an extensive maze on his estate located in Upstate New York after being inspired by Ayrton’s book The Maze Maker. Completed by 1968, this labyrinth consisted of 1,680 feet of stone walkways enclosed by brick walls eight feet high and spanning 200 feet across. Central chambers housed seven-foot-tall bronze sculptures depicting figures such as the Minotaur, Daedalus, and Icarus. According to Christie's auction house, this was considered the largest maze constructed since ancient times.
Upon his passing, Erpf’s art holdings were bequeathed to both the Whitney Museum of American Art and the Metropolitan Museum of Art.
Personal life
Erpf entered into matrimony twice; his initial marriage in 1928 concluded with a divorce. In 1965, he wed Susan Stuart Mortimer, an artist based in New York. The couple had two children: Armand Bartholomew (known as Tolomy) and Cornelia Aurelia Erpf. Tolomy works as a hedge fund manager and, together with his sister Cornelia, co-owns the Oceanus villa located on Mustique—a residence famously utilized by UK Prime Minister Boris Johnson during his New Year holiday in 2020.
On February 2, 1971, Erpf passed away from a heart attack at his office situated at 42 Wall Street. At the time of his death, his estate was valued at $8 million. He lived at 820 Fifth Avenue and also possessed a 500-acre property in Arkville, New York.