Difference between revisions of "Jack Bennett"
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Bennett was born in Macon, Georgia on January 17, 1924 to Andrew Jackson Bennett and Mary Eloise Franklin Bennett. His father, [[Andrew Jackson Bennett]], was an economist who advised the [[United States military government in Germany]] after [[World War II]]. Later he worked for the [[World Bank]] and the [[International Monetary Fund]] in [[Africa]] and [[Asia]].<ref name=nyt>http://www.nytimes.com/1988/03/12/obituaries/jack-bennett-86-dies-government-economist.html</ref> | Bennett was born in Macon, Georgia on January 17, 1924 to Andrew Jackson Bennett and Mary Eloise Franklin Bennett. His father, [[Andrew Jackson Bennett]], was an economist who advised the [[United States military government in Germany]] after [[World War II]]. Later he worked for the [[World Bank]] and the [[International Monetary Fund]] in [[Africa]] and [[Asia]].<ref name=nyt>http://www.nytimes.com/1988/03/12/obituaries/jack-bennett-86-dies-government-economist.html</ref> | ||
| − | His father and mother were long-time residents of Washington, D.C. and Chevy Chase, [[Maryland]] and he graduated from Woodrow Wilson High School in 1941. He graduated from [[Yale University]] in the war-shortened Class of [[1945]] and | + | His father and mother were long-time residents of Washington, D.C. and Chevy Chase, [[Maryland]] and he graduated from Woodrow Wilson High School in 1941. He graduated from [[Yale University]] in the war-shortened Class of [[1945]] and was a U.S Navy Lieutenant on the destroyer U.S.S. Boggs in the Pacific during [[World War II]]. |
==Career== | ==Career== | ||
| − | He worked in [[post-war Germany]] alongside his father who, as Financial Advisor to the [[U.S. Military Commander of Germany]], was the principal administrator of the Deutschmark currency reform that reignited the German economy. On his return from Germany, he earned a Ph.D. in Economics from [[Harvard University]] in [[1951]]. Bennett later moved to [[Washington, D.C.]] where he | + | He worked in [[post-war Germany]] alongside his father who, as Financial Advisor to the [[U.S. Military Commander of Germany]], was the principal administrator of the Deutschmark currency reform that reignited the German economy. On his return from Germany, he earned a Ph.D. in Economics from [[Harvard University]] in [[1951]]. Bennett later moved to [[Washington, D.C.]] where he was in the [[War Department]], the [[State Department]], and the Executive Office of the President, and as the Economist on two Presidential Commissions, including the [[Fairless Committee on Mutual Security]] which focused on U.S. foreign economic policy. |
In [[1955]], Bennett joined the [[Exxon |Standard Oil Company (New Jersey)]] and worked for its successor [[Exxon Corporation]] for over 30 years in [[New York]], [[London]], and [[Houston]]. From [[1975]] to [[1989]], he was Chief Financial Officer, Senior Vice President and a Director of Exxon. During his tenure at Exxon, the Company became well known for its pioneering use of various financial innovations, including bond defeasance, shelf registrations, sale of Company securities by Dutch auction and large-scale repurchases of company shares. He was also a Director of the Discount Corporation, the Massachusetts Mutual Life Insurance Company, [[Philips|Philips Electronics N.V.]], Dean Witter Mutual Funds and Tandem Computers, Inc. | In [[1955]], Bennett joined the [[Exxon |Standard Oil Company (New Jersey)]] and worked for its successor [[Exxon Corporation]] for over 30 years in [[New York]], [[London]], and [[Houston]]. From [[1975]] to [[1989]], he was Chief Financial Officer, Senior Vice President and a Director of Exxon. During his tenure at Exxon, the Company became well known for its pioneering use of various financial innovations, including bond defeasance, shelf registrations, sale of Company securities by Dutch auction and large-scale repurchases of company shares. He was also a Director of the Discount Corporation, the Massachusetts Mutual Life Insurance Company, [[Philips|Philips Electronics N.V.]], Dean Witter Mutual Funds and Tandem Computers, Inc. | ||
Latest revision as of 03:02, 12 September 2024
 Jack Bennett  (financier) | ||||||||||||
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| Born | January 17, 1924 Macon, Georgia (state) | |||||||||||
| Died | April 25, 2010 (Age 86) | |||||||||||
| Nationality | USA | |||||||||||
| Alma mater | Woodrow Wilson High School, Yale University, Harvard University | |||||||||||
| Parents | • Andrew Jackson Bennett • Myrtle McInnis | |||||||||||
| Member of | Bilderberg/Steering committee, Council on Foreign Relations/Historical Members | |||||||||||
Bilderberg Steering committee banker/businessman. Worked alongside his father in post-war Germany to reset the country's economy. Presidential advisor in the 1970 who dismantled U.S. controls over international capital flows.
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Jack Franklin Bennett [1] was a US economist and member of the Bilderberg Steering committee.
Background
Bennett was born in Macon, Georgia on January 17, 1924 to Andrew Jackson Bennett and Mary Eloise Franklin Bennett. His father, Andrew Jackson Bennett, was an economist who advised the United States military government in Germany after World War II. Later he worked for the World Bank and the International Monetary Fund in Africa and Asia.[2]
His father and mother were long-time residents of Washington, D.C. and Chevy Chase, Maryland and he graduated from Woodrow Wilson High School in 1941. He graduated from Yale University in the war-shortened Class of 1945 and was a U.S Navy Lieutenant on the destroyer U.S.S. Boggs in the Pacific during World War II.
Career
He worked in post-war Germany alongside his father who, as Financial Advisor to the U.S. Military Commander of Germany, was the principal administrator of the Deutschmark currency reform that reignited the German economy. On his return from Germany, he earned a Ph.D. in Economics from Harvard University in 1951. Bennett later moved to Washington, D.C. where he was in the War Department, the State Department, and the Executive Office of the President, and as the Economist on two Presidential Commissions, including the Fairless Committee on Mutual Security which focused on U.S. foreign economic policy.
In 1955, Bennett joined the Standard Oil Company (New Jersey) and worked for its successor Exxon Corporation for over 30 years in New York, London, and Houston. From 1975 to 1989, he was Chief Financial Officer, Senior Vice President and a Director of Exxon. During his tenure at Exxon, the Company became well known for its pioneering use of various financial innovations, including bond defeasance, shelf registrations, sale of Company securities by Dutch auction and large-scale repurchases of company shares. He was also a Director of the Discount Corporation, the Massachusetts Mutual Life Insurance Company, Philips Electronics N.V., Dean Witter Mutual Funds and Tandem Computers, Inc.
From 1971 to 1975, Bennett served at the U.S. Treasury in Washington, D.C. under Secretaries John Connolly, George P. Schultz and William Simon. He succeeded Paul Volcker as Undersecretary of the Treasury for Monetary Affairs, serving in that role from 1974 to 1975. His work was instrumental to the implementation of the global movement to currency exchange systems based on floating exchange rates and the dismantling of U.S. controls over international capital flows. He also introduced the use of Dutch auctions in the sale of U.S. Treasury securities (still used today).
He was awarded the Alexander Hamilton Medal by Secretary George P. Schulz. He was an active Member of the Council on Foreign Relations, a Trustee of the Committee for Economic Development, and a member of the Bilderberg Group for which he was also Chairman of the U.S. Friends of Bilderberg.
Events Participated in
| Event | Start | End | Location(s) | Description |
|---|---|---|---|---|
| Bilderberg/1977 | 22 April 1977 | 24 April 1977 | United Kingdom Imperial Hotel Torquay | The 25th Bilderberg, held in Torquay, England. |
| Bilderberg/1978 | 21 April 1978 | 23 April 1978 | US New Jersey Princeton University | The 26th Bilderberg, held in the US |
| Bilderberg/1980 | 18 April 1980 | 20 April 1980 | Germany Aachen | The 28th Bilderberg, held in West Germany, unusually exposed by the Daily Mirror |
| Bilderberg/1981 | 15 May 1981 | 17 May 1981 | Switzerland Palace Hotel Bürgenstock | The 29th Bilderberg |
| Bilderberg/1982 | 14 May 1982 | 16 May 1982 | Norway Sandefjord | The 30th Bilderberg, held in Norway. |
| Bilderberg/1983 | 13 May 1983 | 15 May 1983 | Canada Quebec Château Montebello | The 31st Bilderberg, held in Canada |
| Bilderberg/1984 | 11 May 1984 | 13 May 1984 | Sweden Saltsjöbaden | The 32nd Bilderberg, held in Sweden |
| Bilderberg/1985 | 10 May 1985 | 12 May 1985 | New York US Arrowwood of Westchester Rye Brook | The 33rd Bilderberg, held in Canada |
| Bilderberg/1986 | 25 April 1986 | 27 April 1986 | Scotland Gleneagles Hotel | The 34th Bilderberg, 109 participants |
| Bilderberg/1987 | 24 April 1987 | 26 April 1987 | Italy Cernobbio | 35th Bilderberg, in Italy, 106 participants |
| Bilderberg/1988 | 3 June 1988 | 5 June 1988 | Austria Interalpen-Hotel Telfs-Buchen | The 36th meeting, 114 participants |
| Bilderberg/1989 | 12 May 1989 | 14 May 1989 | Spain Galicia La Toja Island | 37th Bilderberg meeting, 110 guests |
| Bilderberg/1990 | 10 May 1990 | 13 May 1990 | New York US Glen Cove | 38th Bilderberg meeting, 119 guests |
