George M. Ferris Jr.

George M. Ferris Jr.
Born	1927-03-11 Washington, D.C., U.S.
Died	2008-10-20 Washington, D.C., U.S.
Occupation(s)	Investment banker, philanthropist
Known for	Founder of Ferris, Baker Watts; philanthropy in Washington, D.C.

George M. Ferris Jr. (1927–2008) was a prominent American investment banker and noted philanthropist.

Early life and education

Born on March 11, 1927, in Washington, D.C., George Malette Ferris Jr. was the son of George M. Ferris, the founder and leader of the Washington Stock Exchange, which later merged into the Philadelphia Stock Exchange. Raised in Chevy Chase, Maryland, Ferris Jr. completed his secondary education at St. Albans School in 1944. He pursued a Bachelor of Science degree in Engineering at Princeton University, graduating in 1948 and earning membership in Phi Beta Kappa. Subsequently, he obtained an M.B.A. from the Harvard Business School in 1950.

Career

Following his graduate studies, Ferris Jr. joined the family enterprise, Ferris & Co., in 1950. In 1988, the firm merged with Baker, Watts & Co., a Baltimore-based brokerage established in 1900, forming Ferris, Baker Watts. This combined entity specialized in managing assets from technology firms and government contractors, operating forty-two offices across eight states. He retired from active management in 1997 but continued as chairman of the board. His leadership extended to serving on the Board of Governors of the New York Stock Exchange and holding the presidency of the Investment Bankers Association of America for three consecutive terms. Additionally, he was a board member of TCA TrustCorp of America and Marshfield Associates.

Ferris chaired the President's Task Force on International Private Enterprise and began collaborating with the United States Agency for International Development in 1960 to foster private sector development by establishing stock exchanges and financial market frameworks internationally. During the 1990s, he led a commission reviewing USAID's programs and acted as a consultant for the World Bank.

In June 2008, Ferris sold Ferris Baker Watts to Dain Rauscher Wessels, a subsidiary of the Royal Bank of Canada, for $230 million.

Philanthropy

A significant benefactor of the Boys & Girls Clubs of Greater Washington, Ferris served as chairman in 2008 and contributed through the Ferris Family Foundation. He held an officer role with the Federal City Council and co-chaired a committee dedicated to enhancing public education in Washington D.C. His philanthropic influence also included leadership positions such as campaign Chairman for the National Symphony Orchestra, Vice Chairman of the Smithsonian National Museum of American History, and general campaign Chairman for the United Way of America. Following his passing in 2008, a Boys & Girls Clubs facility in Washington D.C. was named to honor his legacy.

Through his involvement with the Ferris Family Foundation, he supported Trinity College (Connecticut), alma mater to both his father—founder of Ferris Baker Watts—and his son David Ferris.

Personal life

Ferris's first marriage to Helen Willard resulted in two sons, George Ferris III and W. Bradley Ferris; the couple later divorced. He subsequently married Nancy Strouce Ferris, with whom he had two children, Kimberly and David; Nancy brought a daughter from her prior marriage into their family. He was affiliated with prestigious clubs such as the Metropolitan Club (Washington, D.C.), Burning Tree Club, and Chevy Chase Club. Despite battling cancer, he passed away from a heart attack on October 20, 2008, at George Washington University Hospital. His memorial service took place at All Saints Church (Chevy Chase, Maryland), where his ashes were interred.