James Harmon

James A. Harmon
Born	(1935-10-12) October 12, 1935 New York City, New York, U.S.
Occupation(s)	Investment professional, banker
Years active	1960s–present
Known for	Chairman and president of Export-Import Bank of the United States; chairman of Egyptian-American Enterprise Fund; chairman of World Resources Institute

James A. Harmon (born October 12, 1935) is an American investment professional, currently serving as chairman of the Egyptian-American Enterprise Fund and chief investment officer at Caravel Management LLC. With a longstanding career in investment banking, he also holds the position of co-chairman of the World Resources Institute. Harmon was the 18th individual to hold both chairman and president roles at the Export–Import Bank of the United States and has been involved in numerous leadership roles across public and private sector boards.

Early life and education

Harmon’s early years were spent in Mamaroneck, New York, where he was born in New York City. His mother, Belle Harmon, operated a local dress boutique, while his father, Bert Harmon, practiced law specializing in real estate. Among his ancestors was Bessie Hamburger, a trailblazer as one of New York’s earliest female Assistant District Attorneys and an innovator in domestic relations law.

He completed his secondary education at the Berkshire School before obtaining a Bachelor of Arts in English Literature from Brown University in 1957. Subsequently, he earned an MBA from the Wharton School of the University of Pennsylvania in 1959. Harmon is married to Jane Harmon (née Theaman), a noted theatrical producer responsible for Broadway productions such as Driving Miss Daisy and The Last Night of Ballyhoo. The couple lives in Weston, Connecticut and has three children along with four grandchildren.

Wall Street tenure

Harmon’s Wall Street career spanned nearly four decades, including a 15-year period at New York Hanseatic Corp., a broker-dealer firm. In 1974, he took on the role of chairman of the investment banking committee at Wertheim & Co., an investment bank. As vice chairman, he played a key role in facilitating Schroder’s purchase of a 50% stake in Wertheim in 1986, which resulted in the company being renamed Wertheim Schroder & Co. This alliance bolstered the firm’s capital resources and broadened its clientele across Europe and Asia.

In 1990, Wertheim Schroder raised capital for expansion by selling non-voting 4.9% interests to Bank of Boston, Massachusetts Mutual Life Insurance Company, and Mitsubishi Trust and Banking Corporation, without diluting ownership control. Harmon served as chairman and CEO from 1986 until 1995, then continued as senior chairman until June 1997. Additionally, he held directorships on multiple boards within U.S. and U.K.-based publicly traded companies.

Export-Import Bank of the United States

On May 6, 1997, President Bill Clinton nominated Harmon to lead the Export-Import Bank of the United States as both president and chairman. The institution provides substantial loan guarantees to developing countries to facilitate their acquisition of American goods and services. The Senate confirmed his appointment on June 12, 1997. Amidst an emerging markets crisis triggered by Thailand’s currency collapse and widespread credit defaults impacting Russia and Latin America, Harmon redirected the bank’s emphasis from government-backed loans toward private sector initiatives. His tenure was extended through May 2001 following a request from Vice President Dick Cheney.

Caravel Management LLC

Harmon’s tenure at Ex-Im Bank exposed him to opportunities within frontier markets. In October 2004, he established Caravel Management, where he serves as chairman and chief investment officer. Based in New York, the firm concentrates on special situations investments targeting frontier and emerging economies such as Egypt and Zimbabwe.

World Resources Institute

In 2004, Harmon was appointed chairman of the World Resources Institute (WRI), an autonomous nonprofit organization dedicated to research on international environmental policies. WRI employs more than 1,400 professionals and maintains offices in Washington, DC, China, India, Indonesia, Mexico, Ethiopia, Brazil, and Brussels, Europe.

Egyptian-American Enterprise Fund

After the 2011 Egyptian revolution, President Barack Obama committed $1 billion in economic assistance to Egypt. In July 2012, Secretary of State Hillary Clinton announced Harmon would oversee the newly established Egyptian-American Enterprise Fund ("EAEF"). The fund’s initiation was confirmed by Secretary of State John Kerry in March 2013, with the purpose of investing in Egypt’s small and medium-sized enterprises. Officially launched on April 24, 2013, the EAEF seeks to stimulate Egypt’s economy by fostering private sector development.

By 2015, EAEF had made significant investments in Fawry, a digital payments platform, and Sarwa Capital, a consumer finance firm—both advancing financial inclusion within Egypt.

In June 2017, Harmon provided testimony before the House Foreign Affairs Committee where he commended Egypt’s economic reform efforts and encouraged Congress to incorporate enterprise funds into U.S. foreign policy frameworks. According to the EAEF’s 2017 annual report, Harmon highlighted $180 million invested across four private companies and three investment funds, which attracted an additional $130 million from international investors and generated over 500 employment opportunities. Congress has allocated $300 million in funding for the initiative.

The Center for Strategic and International Studies ("CSIS") recognized EAEF’s achievements in August 2018 through a report advocating for the establishment of similar enterprise funds in Central America, Southeast Asia, and sub-Saharan Africa.

In April 2019, David Ignatius of the Washington Post authored an opinion piece entitled "The story of a private-equity fund shows how a U.S.-Egypt reset could begin," spotlighting EAEF’s impact.

Politics

Harmon acted as finance chairman for New York Mayor David Dinkins’s 1993 reelection campaign, securing $155,300 as the second top fundraiser. Additionally, he played a role in raising over $100,000 for President Bill Clinton’s 1996 reelection efforts.

Other work

Harmon joined the board of Questar Corporation, an energy firm focused on natural gas production and delivery, in 1976. He stepped down in 1997 to lead the Export-Import Bank of the United States but returned to Questar’s board in 2001. Following Questar’s spin-off of its exploration and production operations in 2010, he remained on the board of QEP Resources until May 2011.

During the 1980s, Harmon served on the board of film producer Orion Pictures and chaired Chappell Music until its merger with Warner Music in 1987. In 1995, he became chairman of Latin Communications Group Inc., which invested in Spanish-language media including El Diario, targeting growth within that sector. Latin Communications Group was acquired by Entravision Communications in 1999.

In 2001, Harmon established Harmon & Co., a global financial advisory firm where he currently acts as chairman. Between 2002 and 2003, he chaired the Corporate Council on Africa, which promotes trade and investment between the U.S. and Africa. Under his guidance, the CCA collaborated with organizations such as the Council on Foreign Relations to create the Commission on Capital Flows to Africa that provided strategic recommendations to U.S. policymakers in 2003.

He contributed to international infrastructure financing initiatives as a member of the World Panel on Financing Water Infrastructure and served on advisory committees related to international capital markets including those for the New York Stock Exchange and the Securities Industry Association.

In philanthropy, Harmon founded the Harmon Family Professorship of Africana Studies at Brown University in 2009 and holds trustee emeritus status at both Brown and Barnard College. He has been involved with boards at Columbia University’s School of International and Public Affairs, the Center for Global Development, and Africare.

Harmon represented the United States on the High Level Panel for Infrastructure Investment in 2011, appointed by G20 finance ministers to provide counsel on global infrastructure financing prior to their summit held in France.

Publications

In 2021, Harmon released a memoir titled Up and Doing: Two Presidents, Three Mistakes, and One Great Weekend—Touchpoints to a Better World.

External links

• Egyptian-American Enterprise Fund