Erskine Bowles
Erskine Bowles | |
|---|---|
| Born | Erskine Boyce Bowles August 8, 1945 Greensboro, North Carolina, U.S. |
| Occupation(s) | Entrepreneur, political leader |
| Years active | 1970s–present |
| Known for | 19th White House Chief of Staff, President of the University of North Carolina system, co-chair of National Commission on Fiscal Responsibility and Reform |
Erskine Boyce Bowles (; born August 8, 1945) is a prominent American entrepreneur and political leader originating from North Carolina. He held the position of the 19th White House Chief of Staff from January 1997 through October 1998 during President Bill Clinton's administration, and later served as president of the University of North Carolina system between 2005 and 2010. Bowles made two unsuccessful bids for the United States Senate in 2002 and 2004 as a representative of North Carolina.
In 2010, Bowles co-chaired the National Commission on Fiscal Responsibility and Reform under President Barack Obama alongside Alan Simpson. The pair also established the advocacy organization known as The Campaign to Fix the Debt.
Early life and education
Born and raised in Greensboro, North Carolina, Bowles is the son of Jessamine Woodward Boyce Bowles and Skipper Bowles, a Democratic politician who campaigned for North Carolina Governor in 1972. His family includes siblings Hargrove Bowles III and Mary Holland Bowles Blanton. He completed his secondary education at Virginia Episcopal School before obtaining a business degree from the University of North Carolina at Chapel Hill, where he was affiliated with Zeta Psi. Following a brief tenure in the United States Coast Guard, Bowles pursued an MBA at Columbia Business School.
Bowles launched his professional journey at the financial firm Morgan Stanley in New York City, where he met his future wife, Crandall Close. They wed in 1971 and relocated to North Carolina, where he contributed to his father’s gubernatorial campaign in 1972. In 1975, he co-established the investment banking company Bowles Hollowell Conner, maintaining his involvement in finance through the 1990s.
Clinton administration
Bowles played a significant role as a fundraiser for Bill Clinton’s presidential campaign in 1992. Subsequently, Clinton appointed him to lead the Small Business Administration in 1993. Between October 1994 and December 1995, Bowles served as Clinton's White House Deputy Chief of Staff. After co-founding the private equity firm Carousel Capital based in Charlotte, he was appointed Clinton’s White House Chief of Staff in December 1996, where he managed critical federal budget negotiations. Returning to finance in Charlotte by 1998, Bowles also directed a task force focused on enhancing rural economic development for North Carolina Governor Jim Hunt.
Senatorial races
Although initially reluctant to pursue elected office, Bowles announced his candidacy for the United States Senate in October 2001 as a Democratic contender for the seat left open by Jesse Helms. He secured the party’s nomination but was defeated by Republican Elizabeth Dole in the 2002 general election.
In 2004, Bowles sought election again to fill Democrat John Edwards’ Senate seat. Competing against Republican Richard Burr and Libertarian Tom Bailey, this campaign became one of North Carolina’s costliest statewide races. The contest grew contentious, with mutual criticisms targeting Bowles’s association with the Clinton administration and Burr’s stances on trade and special interest contributions. Despite early leads in polls and backing from Democratic Governor Mike Easley, Bowles ultimately lost.
In 2005, Bowles was appointed as United Nations Deputy Special Envoy for nations impacted by the Tsunami, collaborating once more with Bill Clinton, who served as U.N. Special Envoy.
University of North Carolina
On October 3, 2005, the University of North Carolina Board of Governors selected Bowles to replace Molly Corbett Broad as President of the university system, a decision that sparked debate due to the absence of public hearings throughout the appointment process. Among his significant decisions was the appointment of Holden Thorp as UNC Chapel Hill’s tenth chancellor; Thorp later resigned in 2012 amid controversies connected to the athletics department. Bowles also delivered remarks at the campus memorial honoring the late student body president Eve Carson.
Bowles declared his retirement from the UNC System on February 12, 2010, with Thomas W. Ross succeeding him in the role.
Bowles-Simpson commission
In 2010, Bowles was named co-chair of President Barack Obama's National Commission on Fiscal Responsibility and Reform, serving alongside Alan K. Simpson. The commission reached an impasse, and its recommendations for reducing the budget deficit were ultimately not adopted by the Obama administration. Bowles later indicated that political considerations prompted Obama to abandon the commission’s report, opting instead to allow House Budget Chairman Paul Ryan to take charge, despite resistance from his economic advisers.
Later career
Bowles has held board positions with several major corporations, including General Motors, Morgan Stanley, Norfolk Southern Corporation, and North Carolina Mutual Life Insurance Company. He is also active on the North Carolina Advisory Board for DonorsChoose.
On September 7, 2011, Bowles joined the board of directors at Facebook, Inc..
Following Governor Bev Perdue’s decision not to pursue a second term in the 2012 North Carolina gubernatorial election, Bowles emerged as a potential contender and polled strongly against the anticipated Republican nominee Pat McCrory. Nevertheless, he announced on February 2, 2012, that he would not enter the gubernatorial race.
Electoral history
- 2004 United States Senate election in North Carolina
- Richard Burr (R), 52%
- Erskine Bowles (D), 47%
- 2002 United States Senate election in North Carolina
- Elizabeth Dole (R), 54%
- Erskine Bowles (D), 45%
Board membership
Bowles has served or currently serves as a director for:
- University of North Carolina (President Emeritus)
- Morgan Stanley
- Norfolk Southern Corporation (former)
- North Carolina Mutual Life Insurance Company
- North Carolina Advisory Board of DonorsChoose
- Facebook, Inc. (appointed 2011)
- Cousins Properties, Inc.
- Belk, Inc.
- General Motors (former)
- Committee for a Responsible Federal Budget
See also
External links
- Fix the Debt
- Issue positions at OnTheIssues.org