Barry F. Sullivan

Barry F. Sullivan
Born	(1930-12-21) 21 December 1930 The Bronx, New York City, U.S.
Died	11 August 2016(2016-08-11) (aged 85) Bronxville, New York, U.S.
Occupation(s)	Investment banker, political figure
Years active	1957–1990s
Known for	Chairman and CEO of First Chicago Corporation; Deputy Mayor of New York City for finance and economic development

Barry F. Sullivan (December 21, 1930 – August 11, 2016) was a prominent American investment banker and political figure who led First Chicago Corporation as chairman and CEO from 1980 until 1991. He also held the position of deputy mayor for finance and economic development in New York City during Mayor David Dinkins’ administration.

Early life and education

Born and raised in The Bronx, New York City, Sullivan was the son of an insurance professional. He attended the Jesuit institution Regis High School, where he distinguished himself both academically and in sports.

Following his time at Regis, Sullivan briefly contemplated entering the priesthood before enrolling at Georgetown University. There, he was a member of the Georgetown Hoyas men's basketball team. In 1952, he joined the U.S. Army and served during the Korean conflict. He later earned a Bachelor of Arts degree in history and languages from Columbia University in 1955.

Career

Although he received an offer to play for the New York Knicks, Sullivan opted to pursue a career in business. He relocated to East Chicago, Indiana to work with Inland Steel Company while simultaneously completing an MBA at the University of Chicago Booth School of Business, graduating in 1957.

Sullivan began his banking career at Chase Manhattan Bank in 1957, rising to become its youngest senior vice president by 1972. Subsequently, he advanced to executive vice president and secured a seat on the bank’s management committee.

In 1982, he assumed leadership as chairman and CEO of First Chicago Corporation, overseeing key subsidiaries such as First National Bank of Chicago and American National Corporation. During his eleven-year tenure, Sullivan reinvigorated senior management, enhanced employee morale, improved profitability, and established First Chicago as the largest bank in the city. He was instrumental in growing its credit card division into the nation’s second-largest lender.

Sullivan chaired the Institute of International Finance, a global association of bankers, from 1986 until 1991.

Following his retirement from banking in 1991, he returned to New York City to serve as deputy mayor for finance and economic development under Mayor David Dinkins, a role obtained through the influence of David Rockefeller. In this capacity, he was pivotal in ensuring that major financial firms remained headquartered in the city. In 1994, Sullivan took on the role of chief operating officer at the New York City Board of Education and also led as president of the Greater New York Chamber Of Commerce.

Other interests

Later in life, Sullivan pursued graduate theological studies at Fordham University while serving for ten years as vice chairman of Sithe Energies, a publicly traded company specializing in power plant ownership and operation.

Beyond his corporate endeavors, he co-founded the Big Shoulders Fund, which successfully raised over $300 million to support Catholic schools located in economically disadvantaged urban areas. He contributed extensively to academic institutions by serving on the board of trustees for the University of Chicago, holding positions as vice chair (1985–1987) and chair (1988–1992). His governance roles extended to boards at Columbia University, Georgetown University, and the Art Institute of Chicago.

Awards and honors

Sullivan was affiliated with the Knights of Malta and was honored with the Order of Saint Gregory the Great. In recognition of his contributions, he received an honorary Doctor of Laws degree from the University of Chicago in 1994. Two years later, Columbia College presented him with the prestigious John Jay Award for his accomplishments in business and public service.

Personal life and death

Sullivan was married to Audrey until her passing in 2009. He died on August 11, 2016, at his residence in Bronxville, New York, following a stroke. He is survived by five children, seventeen grandchildren, and a sister.