John Mack is an American businessman. He is most known for serving as a Senior Advisor to the investment firm Kohlberg Kravis Roberts. He is also known as the former CEO and chairman of the board of the New York-based investment bank and brokerage firm Morgan Stanley.
John Mack Biography And Net Worth
|Net Worth||100 Million Dollars|
|Date of Birth||November 17, 1944|
|Birthplace||Mooresville, North Carolina, United States|
|Education||Duke University (1968), Mooresville High School|
John Mack Early Life
Mack was born in Mooresville, North Carolina on 17 November, 1944. Mack’s parents were emigrants from Lebanon. Mack’s father immigrated to America from Lebanon when he was 12 years old. The family eventually got settled in North Carolina. John was the youngest of the six siblings and they grew up in a Catholic household. In Mooresville, “John Mack & Son” was a wholesale grocery, clothes and general merchandise company run by Mack’s father. From 1937 to the 1990s, the company inhabited The John Mack Building. Mack received a football scholarship to Duke University, where he studied history and received his degree in 1968. A shattered vertebra prevented him from continuing on his football scholarship during his junior year at Duke. Eventually, Mack’s started working in finance as a clerk at a tiny brokerage firm.
John Mack Career
Before beginning his career at Morgan Stanley in 1972 as a salesman, Mack worked at a number of Wall Street firms. He spent almost thirty years there. Mack advanced steadily through the company, eventually leading the Worldwide Taxable Fixed Income Division from 1985 to 1992. He was admitted to the board of directors in 1987. As chairman of the operational committee, he took over management of Morgan Stanley’s daily operations in March 1992. In June 1993, he was appointed the president of Morgan Stanley. Morgan Stanley and Dean Witter, two of the top financial services corporations in the world, merged to form Morgan Stanley Dean Witter & Co., in May 1997. Since its establishment, Mack had served as president, chief operating officer and a director of the company.
After a power struggle with Phil Purcell, Mack left Morgan Stanley in 2001. Mack was appointed CEO of Credit Suisse six months later in June 2001. Mack’s tenure at Credit Suisse was highlighted by numerous restructuring efforts and compliance problems brought on by “Technology Group” under Frank Quattrone. Taking Purcell’s place as CEO and chairman of the board, Mack rejoined Morgan Stanley on June 30, 2005. Despite the economic slump, Mack was credited for stabilizing the company and reinvigorating its culture and client franchise. After working as an investment banker for more than 30 years, Mack retired from Morgan Stanley in 2011. In 2012, Mack joined Kohlberg Kravis Roberts as a senior advisor.
John Mack Wife
John Mack is married to Christy Rose. John and Christy have three children together.
John Mack Net Worth
John has a net worth of 100 million dollars as of this writing. His work in the investment firm “Morgan Stanley” is the reason for his fortune.
John Mack Body Features