Jack Bennett

Jack Bennett (financier)
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.  Undersecretary of the Treasury for Monetary Affairs In office 1974 - 1975 Preceded by Paul Volcker

Jack Franklin Bennett 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.

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 served as 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 served 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

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