Ellmore C. Patterson :::
Ellmore C. Patterson
Graduated in 1931
Inducted in 1997
Ellmore C. Patterson is a 1931 graduate and a seasoned financial executive as Chairman of the and Chief Executive Officer of J.P. Morgan & Co., Inc. and its subsidiary, Morgan Guaranty Trust Company of New York. In 1935, Patterson earned a bachelor's degree from the University of Chicago. Later that year, he joined J. P. Morgan & Co., then a private banking firm. He was elected an Assistant Vice President in 1948 and a Vice President in 1951. J.P. Morgan Guaranty Trust Company of New York merged to form Morgan Guaranty in 1959 and Patterson was named Senior Vice President and head of the general banking division. He was eventually named President of J.P. Morgan & Co., Inc. in 1969, which was formed to acquire Morgan Guaranty. He became chairman of the Board and Chief Executive of both companies in 1971. He assumed the position of Chairman of the Executive Committee until his retirement as an officer in 1978. Patterson lent his financial and business expertise to numerous other corporations. He has served as a Director of Bethlehem Steel Corp., Morgan Bank of Canada, and the Santa Fe & Southern Pacific Corp. He was also formerly a Director of Atlantic Richfield Oil Co., General Motors Corp., International Nickel and Nabisco Brands, Inc. In 1970 he was appointed to the President's Commission of Financial Structure and Regulation which studied the nation's financial system and made recommendations for improving it. In 1975-76 he served as chairman of a committee of financial executives to help New York City out of its financial crisis. In 1979, he completed a three-year term as a Director of the Federal Reserve Bank of New York.