John M. Schiff
John Mortimer Schiff | |
|---|---|
| Born | August 26, 1904 New York, United States |
| Died | May 9, 1987 (aged 82) |
| Occupation(s) | Financier, philanthropist |
| Known for | Partner at Kuhn, Loeb & Co.; National president of the Boy Scouts of America (1951–1956); Trustee of the John Simon Guggenheim Memorial Foundation; Thoroughbred racehorse breeder |
John Mortimer Schiff (August 26, 1904 – May 9, 1987) was a notable American financier and philanthropist. He held a partnership at Kuhn, Loeb & Co., served as a trustee for the John Simon Guggenheim Memorial Foundation, was involved in breeding championship thoroughbred racehorses, and led the Boy Scouts of America as its national president between 1951 and 1956.
Biography
Hailing from a distinguished German-Jewish banking lineage in New York, Schiff was the offspring of Adele (née Neustadt) and Mortimer Loeb Schiff, and the grandson of the financier Jacob H. Schiff. He completed his studies at Yale University in 1925, where he held the position of assistant business manager for The Yale Record. After spending a year at Oxford University, he gained experience working at Bankers Trust and had a brief tenure with the Missouri Pacific Railroad. Upon his father’s passing in 1931, Schiff joined Kuhn, Loeb & Co. as a partner.
Scouting movement
Both John Schiff and his father played key roles in the leadership of the Boy Scouts of America. John was national president from 1951 until 1956 and participated on the World Scout Committee from 1955 through 1961. His outstanding service to international Scouting earned him the esteemed Bronze Wolf award in 1961. The John M. Schiff Scout Reservation bears his name in tribute.
Thoroughbred horse racing
Schiff was an owner and breeder of thoroughbred racehorses, including the 1970 American Champion Two-Year-Old Colt Hoist the Flag. His stable also featured successful competitors such as Plugged Nickle and Droll Role.
Philanthropy
Between 1965 and 1976, Schiff acted as a Trustee for the John Simon Guggenheim Memorial Foundation, later holding the title of Trustee Emeritus until his death in 1987.
Personal life
John Schiff wed Edith Brevoort Baker, granddaughter of financier George Fisher Baker, who has been described as "the richest, most powerful and most taciturn commercial banker in U.S. history." The couple had two sons: David T. and Peter G. Schiff. Following Edith’s death in 1975, John married Josephine Laimbeer Fell, widow of John R. Fell Jr., a partner at Lehman Brothers.
His son David served as chairman of the Wildlife Conservation Society and married Martha Elizabeth Lawler in 1963. In 1997, David’s son Andrew Newman Schiff married Karenna Aitcheson Gore, daughter of former Vice President Al Gore, in a ceremony held at Washington National Cathedral.