Iconic Wall Street banker Alan “Ace” Greenberg, the former Bear Stearns CEO and JPMorgan Chairman Emeritus, passed away from a battle with cancer. He was 86.
JPMorgan CEO Jamie Dimon and JPMorgan Asset Management CEO Mary Callan Erdoes sent the following note to employees:
Note from Jamie Dimon and Mary Callahan Erdoes to JPMC Employees
Today we mourn the loss of a true industry icon, Ace Greenberg.
It’s hard to imagine a financial services industry without Ace. In many respects, he epitomized the American dream, rising from a clerk to the corner office during his 65 years with the firm. Whether he was building Bear Stearns into an industry powerhouse or wowing the trading floor with his penchant for magic, Ace’s personality permeated everything he did. His intelligence and wit was only surpassed by his generosity and thoughtfulness.
J.P. Morgan is no doubt a better place for having had Ace as a part of it, and while there will never be another Ace Greenberg, the example he set will certainly live on through all of us that had the opportunity to learn from him.
Our thoughts and prayers are with his family.