Charles A. Agemian
Charles A. Agemian | |
|---|---|
| Born | 22 July 1909 Aleppo, Syria |
| Died | 30 March 1996 (aged 86) |
| Occupation | Banking executive |
| Known for | Chairman and CEO of Hackensack Trust Co. / Garden State National Bank; executive vice president of operations at Chase Manhattan Bank |
Charles A. Agemian (July 22, 1909 – March 30, 1996) was an Armenian-American banking executive who left his role as executive vice president of operations at Chase Manhattan Bank ahead of schedule to assume the positions of chairman and CEO at Hackensack Trust Co., which was subsequently renamed Garden State National Bank.
Early life and education
Agemian was born in Aleppo, Syria and moved to the United States at the age of fourteen. He completed his undergraduate studies at the Wharton School of the University of Pennsylvania, earning a B.A., and later obtained an MBA from Columbia Business School.
Career
Beginning his banking career in 1927 as a messenger at Bank of Manhattan Co., Agemian climbed the ranks within operations. Following the 1955 merger that created Chase Manhattan Bank, he was appointed vice president and deputy controller. His progression continued as he became controller general in 1959, then executive vice president of operations in 1963, a role he fulfilled until retiring in 1969. Throughout his tenure, he maintained a close professional association with Chase Chairman John J. McCloy.
On January 1, 1970, at the recommendation of Steve Ross (Time-Warner CEO), chairman of Kinney Services Inc. — the majority stakeholder — Agemian took on the leadership roles of chairman and CEO at Hackensack Trust Co. He oversaw its rebranding to Garden State National Bank and orchestrated its merger with North Jersey National Bank one year later. Due to regulatory requirements under the Federal Bank Holding Company Act of 1956, Warner was required to divest its holdings. After opposition from board member William A. Conway, who contended that minority shareholders were being treated unfairly, Garden State merged with Fidelity Union Bancorporation (which later became part of Wachovia) in 1980. This merger necessitated Agemian’s resignation from the Warner Communications board in order to maintain his leadership at Garden State.
Agemian stepped down from Garden State in 1981 but continued contributing academically through teaching positions at both the Stonier Graduate School of Banking and Pace University.
Personal life
Residing in Spring Lake, New Jersey, Agemian passed away on March 30, 1996, aged 86. He was married to Mary Agemian and had two daughters: Sandra Borg and Mary Louise Heath.