J. Carter Bacot

J. Carter Bacot
Chairman of the Board of the Bank of New York
In office
1982–1998
Preceded byElliott Averett
Succeeded byThomas A. Renyi
President of the Bank of New York
In office
1974–1982
Preceded byElliott Averett
Succeeded byPeter Herrick
Personal details
Born
John Carter Bacot

(1933-02-07)February 7, 1933
DiedApril 7, 2005(2005-04-07) (aged 72)
Montclair, New Jersey, U.S.
NationalityAmerican
SpouseShirley Schou
Children2
Alma materHamilton College
Cornell Law School
OccupationBusinessman, lawyer

John Carter Bacot (/ˈbeɪkoʊ/; February 7, 1933 – April 7, 2005) was president of The Bank of New York for eight years and he was chairman and CEO for sixteen years. He remained on the Board of Directors until 2003.[1]

Early life

Bacot spent his early years in Utica, New York. After graduating from Hamilton College in 1955 and from Cornell Law School in 1958. He worked briefly for a Utica law firm.[2]

Career

Bacot joined The Bank of New York in 1960. He was named vice chair of the company in 1975 and president in 1979.[3] Following the death of Elliott Averett,[4][5] was the chairman and chief executive from 1982 until 1998 and remained on the board until 2003.[2]

While Bacot was the chairman, the bank's assets increase from $11.5 billion to $60 billion. Also, the bank's net annual income increased from $58 million to $1.1 billion.[2]

On April 7, 2005, The Bank of New York Company announced that Bacot had died earlier that day from cardiac arrest at his home in Montclair, New Jersey, at age 72. He had a forty-three-year career at The Bank of New York.[6]

Personal life

Bacot died on April 7, 2005, due to cardiac arrest. He is survived by his wife, Shirley Schou; two daughters, Susan Bacot and Betsy Bacot-Aigner; and two grandsons.[7]

References

  1. ^ Mike Debraggio (October 4, 2005). "J. Carter Bacot '55, Board of Trustees Chairman Emeritus, Dies at 72". Hamilton College (New York).
  2. ^ a b c Jenny Anderson (April 9, 2005). "J.C. Bacot, 72, Bank Chief Who Recast His Company". The New York Times.
  3. ^ Sloane, Leonard (Jan 13, 1982). "Business People; BANK OF NEW YORK AND PARENT FILL POST". The New York Times. Retrieved 5 December 2024.
  4. ^ Cook, Joan (Jan 13, 1982). "ELLIOTT AVERETT IS DEAD AT 64; BANK OF NEW YORK CHAIRMAN". The New York Times. p. 21. Retrieved 5 December 2024.
  5. ^ Sloane, Leonard (Feb 10, 1982). "BUSINESS PEOPLE; President For Bank Of New York". The New York Times. Retrieved 5 December 2024.
  6. ^ "J. Carter Bacot, Retired Chairman and Chief Executive Officer of The Bank of New York Company, Inc. Dies at 72". Businesswire.com. Business Wire. Retrieved 3 December 2015.
  7. ^ Anderson, Jenny (2005-04-09). "J.C. Bacot, 72, Bank Chief Who Recast His Company, Dies". The New York Times. ISSN 0362-4331. Retrieved 2020-02-21.