From Yale to Wall Street, the legendary tycoon in the financial circle passed away

Another financial legend died!

On June 14, US time, Yale University suddenly sent a message to mourn the founding dean William H. Donaldson.

It is reported that William Donaldson once served as the chairman of the Securities and Exchange Commission (SEC), and was also the Wall Street investment bank Donaldson, Lufkin&Jenrette (D L.J．， Dijie Securities Co., Ltd. Donaldson died on June 12 local time at the age of 93.

Founding Dean William Donaldson died

The Yale School of Management said on Friday that William H. Donaldson, former chairman of the Securities and Exchange Commission, co-founder of Wall Street investment bank Donaldson, Lufkin&Jenrette, and founding dean of the Yale School of Management, died on June 12, 2024 local time.

According to brokers in China, Donaldson has spent decades of peak time in the business, political and academic circles. He once served as chairman of the Securities and Exchange Commission of the United States, chairman, president and CEO of Aetna Insurance Company, and chairman and CEO of the New York Stock Exchange. He also co founded the influential investment bank Donaldson, Lufkin & Jenrette。

Peter Salovey, president of Yale University, said: "As the founding dean of the Yale School of Management, he is a model of the college's early ambitions, and his legacy will inspire generations of students and scholars. He is a very honest man, who has contributed his energy and skills to many fields such as government, for-profit and non-profit organizations. His views on management professionals have left a permanent mark on the Yale School of Management, Yale University and the world. "

Kerwin K. Charles, the current dean of Yale School of Management, emphasized the impact of Donaldson on the School nearly 50 years after its establishment. "Donaldson is the founder spirit of Yale School of Management, which has a far-reaching impact. He has injected entrepreneurial spirit to establish an unprecedented new professional college, and he insists that effective leaders must understand the operation of the private and public sectors. He is still the fresh force of the school for a long time after his departure. Like the former president, I benefited a lot from his wisdom and generosity. The whole management school will miss him. "

At the age of 71, he became chairman of the SEC

Looking back on William Donaldson's life experience, it is legendary.

Donaldson studied at Yale University (BA in 1953) and Harvard University (MBA in 1958). When he was a senior at Yale University, he joined the school's secret society, the Skull and Bones Association. It was also during Yale that Donaldson became acquainted with Jonathan Bush, the uncle of later US President George W. Bush, and became friends in the Bush family circle. The gears of fate began to rotate from this moment.

He served as the 27th Chairman of the Securities and Exchange Commission of the United States from February 2003 to June 2005. In 2002, the financial scandals of Enron, WorldCom and other companies severely hit the confidence of investors. Harvey Pitt, the former chairman of the US SEC, was involved because of improper handling and was forced to submit his resignation only 15 months after taking office. On the 10th of that month, President Bush officially nominated William Donaldson, a 71 year old famous investment banker on Wall Street, as the 27th presidential candidate. On February 18, 2003, he officially took office.

At the beginning of his tenure, a series of financial scandals broke out in Enron, WorldCom and other large companies, shaking the US financial market. Donaldson's top priority at that time was to lead the SEC to investigate the company's scandals, fully implement the Sarbanes Oxley Act, which was issued in 2002, and restore the market investment confidence that had been hit hard by the company's scandals.

In June 2005, William Donaldson announced his resignation as Chairman of the SEC. In a statement, George Walker Bush, the then President of the United States, said that Donaldson had accepted a difficult task at a difficult time, made contributions to the American people, actively and impartially implemented the country's securities laws, and made great efforts to rebuild public confidence in American companies, This will also play an important role in the recovery of the US economy.

Since then, in 2009, William Donaldson has also joined the Economic Recovery Advisory Committee of the then US President Barack Obama to advise the US government on coping with the crisis.

This article is synthesized from the official website of Yale University, securities firm China and China Fund News

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