F. Abott Goodhue
Francis Abott Goodhue Jr. | |
|---|---|
| Born | 14 June 1883 Brookline, Massachusetts, U.S. |
| Died | 1 June 1963 (aged 79) Hewlett, Long Island, New York, U.S. |
| Occupation | Banker |
| Years active | 1907–1948 |
| Known for | President of the Bank of the Manhattan Company (1931–1948) |
Francis Abott Goodhue Jr. (June 14, 1883 – June 1963) was a prominent American banker who served as president of the Bank of the Manhattan Company from 1931 until 1948.
Early life
Goodhue was born in Brookline, Massachusetts to parents Francis Abott Goodhue and Elizabeth Johnson Cushing Goodhue. He completed his education at Phillips Academy and graduated from Harvard College in 1906, subsequently spending a year at Harvard Law School.
Career
Beginning his banking profession in 1907 as a messenger at the First National Bank of Boston, Goodhue quickly advanced. By 1912, he held the presidency of the Brookline Trust Company and subsequently became vice president of First National Bank with a focus on international banking. In 1917, he established a branch in Buenos Aires and two years later played a key role in founding the French American Banking Corporation of New York, where he served on the board of directors.
Relocating to New York in 1921, Goodhue founded the International Acceptance Bank, acting as its president until 1931 with James Warburg as vice president. The bank was acquired by the Bank of the Manhattan Company in 1929; following this, Goodhue assumed its presidency while Warburg became chairman.
In 1929, Goodhue was elected president of the American Acceptance Council, a position he held until 1931 when Charles S. McCain of Chase National Bank succeeded him.
After the 1931 merger between International Acceptance Bank and the Bank of the Manhattan Company, Goodhue led the unified institution as president until his retirement in 1948, at which point Lawrence C. Marshall took over.
Volunteer and philanthropic efforts
In 1918, Goodhue represented the United States on the Interallied Committee for War Purchases and Finance based in London. He joined the American Committee on Standstill Credits to Germany in 1932 but resigned in 1939 after ensuring that his bank had no outstanding obligations under that agreement.
By 1937, he chaired the finance division of the United Hospitals Campaign, coordinating nineteen major fundraising groups supporting ninety-two voluntary hospitals along with the Visiting Nurse Association of Brooklyn.
In 1942, Governor Herbert H. Lehman appointed him to Group 1 of the State Banking Board, an advisory panel to the Superintendent of Banks reserved for representatives from banks with deposits exceeding $150 million.
Following his retirement as president in 1948, Goodhue continued serving on the board of the Manhattan Company until its merger with Chase National Bank in 1955, which created Chase Manhattan Bank. He then contributed as a member of the bank’s trust advisory board until his passing in 1963.
Personal life
Goodhue married Nora Forbes Thayer (1889–1988), daughter of ornithologist John Eliot Thayer and granddaughter of banker Nathaniel Thayer Jr.. They had five children:
- Francis Abott Goodhue III (1916–1990), who graduated from Harvard Law and married Mary Elizabeth Brier, daughter of Parke‐Davis vice president Ernest Brier. Mary served in both the New York State Assembly and Senate.
- Phoebe Thayer Goodhue (1919–2019), a debutante who married Lt. Warren Winslow (deceased 1944) and later Gerrish H. Milliken Jr., associated with Milliken & Company leadership.
- John Thayer Goodhue (1925–2024), vice president for international sales at West India Shipping Company; married Charlotte Barton Streeter, daughter of Edward Streeter.
- Stephen Van Rensselaer Goodhue (1929–2011), former senior vice president at Manufacturers Hanover Trust Company and president of the Visiting Nurse Service of New York; married Judith Relles Wiener.
Goodhue passed away from a heart attack at his residence in Hewlett, Long Island, in June 1963. The family also maintained a home in Lancaster.
Descendants
His lineage continued through his son Francis, making him the grandfather of Francis Abott Goodhue IV. In 1976, Francis Abott Goodhue IV wed Evelyn Treat Cutler, who was the daughter of Philip Cutler, the inaugural headmaster of Brookwood School located in Manchester-by-the-Sea.