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Herbert Parsons Patterson

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Herbert Parsons Patterson
President of Chase Manhattan Bank
In office
1969–1972
Preceded byDavid Rockefeller
Succeeded byWillard C. Butcher
Personal details
Born(1925-09-03)September 3, 1925
Manhattan, New York
DiedJanuary 29, 1985(1985-01-29) (aged 59)
Manhattan, New York
Spouse(s)
Louise Sargent Oakey McVeigh
​
​
(m. 1949; died 1968)​

Patricia Shepard Norris
​
​
(after 1970)​
RelationsRufus L. Patterson Jr. (grandfather)
Herbert Parsons (grandfather)
Elsie Clews Parsons (grandmother)
ChildrenKatheryn Clews Patterson
Parent(s)Morehead Patterson
Elsie Parsons
EducationGroton School
Alma materYale University

Herbert Parsons Patterson (September 3, 1925 – January 29, 1985), was an American banker who served as president of the Chase Manhattan Bank.

Early life

Patterson was born on September 3, 1925, at Sloan Maternity Hospital in New York City.[1] He was the second son of Morehead Patterson and Elsie (née Parsons) Patterson (1901–1966).[2] His elder brother was Rufus Lenoir Patterson III,[3] a Lieutenant with the USAAF who was killed in action during World War II.[4] His parents divorced in 1929 and his mother married John Drummond Kennedy in 1934.[5] His father was an inventor who served as president and chairman of American Machine and Foundry.[6]

His paternal grandparents were Rufus L. Patterson Jr., founder of AMF, and Margaret Warren (née Morehead) Patterson, a descendant of North Carolina Governor John Motley Morehead of Blandwood.[7] His maternal grandparents were U.S. Representative Herbert Parsons and Elsie Clews Parsons (a daughter of British-American financier Henry Clews and Lucy Madison Worthington, a grandniece of President James Madison).[2]

After graduating from the Groton School in 1942, he attended Yale University, where he earned a bachelor's degree in 1948. During World War II, he was a junior officer in the Navy serving in the Pacific.[8]

Career

In 1949, he joined Chase Manhattan Bank, where he spent his entire banking career.[8] After a succession of posts, starting as an assistant manager and including assistant treasurer, vice president and executive vice president, he became president of the bank in 1968 when the previous president, David Rockefeller, also the bank's largest individual shareholder, became chairman and chief executive.[9] Patterson was a trustee of the National Council on Crime and Delinquency, a member of the Council on Foreign Relations and the Mayor's Fiscal Advisory Committee.[10] In 1972, after the bank was losing its competitive position and suffering a decline in earnings, he was replaced as president by Willard C. Butcher, and left the bank.[11]

After Chase, he served as a financial consultant to Marshalsea Associates and then as president of the Stonover Company, a financial consulting firm he founded in 1977.[8] He also served on the board of directors of AMF, the company founded by his grandfather and which was run by his father as well.[11]

Personal life

In July 1949, Patterson was married to Louise Sargent (née Oakey) McVeigh (1925–1968), an operatic and concert soprano, at the River Club.[12] Louise, the widow of David Malcolm McVeigh, was a daughter of Francis Oakey of New York and The Studio in Southampton, New York.[13] Her only attended was her sister, Joan Oakey Benjamin (wife of Samuel Nicoll Benjamin),[a] and his best man was his cousin, Casimir de Rham Jr.[b][12] Louise's grandmother, Ellen (née Sargent) Oakey, was a cousin of the artist John Singer Sargent.[12] Before her death in 1968, they were the parents of:

After the death of his first wife, he married Stanford graduate Patricia (née Shepard) Norris (1925–2016)[19] in 1970 at the Dana Chapel of the Madison Avenue Presbyterian Church followed by a reception at the Colony Club.[10] Patricia, the former wife of Bruce A. Norris (owner of the Detroit Red Wings), was a daughter of Chester Ames Shephard of New York and Pebble Beach, where he was a real‐estate investor.[20] He was a member of the Racquet and Tennis Club and the Lenox Club.[12]

Patterson died of pulmonary failure Tuesday at his home in New York City on January 29, 1985. After a funeral in New York, he was privately buried in Lenox, Massachusetts,[8] where he was a trustee of the Lenox Library.[21] After his death, Stonover, his family's estate in Lenox,[c] was sold and today is operated as a bed and breakfast.[22]

References

Notes
  1. ^ Samuel Nicoll Benjamin (1915–2006) was a grandson of Union Army officer Samuel Nicoll Benjamin and great-grandson of New York Governor, Senator, and Secretary of State Hamilton Fish
  2. ^ His maternal aunt, Lucy Lathrop Patterson (1900–1977),[14] had married Casimir de Rham,[15] a descendant of Henry Casimir de Rham.[16]
  3. ^ Stonover was designed by Charles T. Rathbun in 1890 for his great-grandfather, John Edward Parsons, father of Herbert Parsons.[22] Patterson's mother and stepfather, John D. Kennedy, a well-known conservationist after whom Kennedy Park in Lenox is named, lived at Stonover Farm.[21]
Sources
  1. ^ "BODY WAS TAKEN TO TROY FOR CREMATION. Funeral of Herbert Parsons of New York and Lenox to Be Held in Lenox". The Berkshire Eagle. 17 September 1925. p. 9. Retrieved 2 June 2023.
  2. ^ a b Times, Special to The New York (11 September 1921). "MISS ELSIE PARSONS MARRIED IN LENOX; Society Throng at Her Wedding to Morehead Patterson of New York in Trinity Church. LOUISE DELANO A BRIDE Washington Girl Weds Col. Sherwood A. Cheney, U.S.A., in Stockbridge--200 at Reception". The New York Times. Retrieved 1 June 2023.
  3. ^ "Lieut. R.L. Patterson 3d Killed". The New York Times. 7 December 1944. Retrieved 1 June 2023.
  4. ^ TIMES, Special to THE NEW YORK (12 July 1942). "MAE CADWALADER BECOMES A BRIDE; Fort Washington, Pa., Girl Is Married in Whitemarsh to Rufus L. Patterson 3d HAS ELEVEN ATTENDANTS: Miss Minnie Cadwalader Maid of HonorL J. J. Higginson Serves as Best Man". The New York Times. Retrieved 1 June 2023.
  5. ^ "MRS.E.P. PATTERSON BECOMES A BRIDE; Marriage Unites Daughter of Mrs. Herbert Parsons to J. D. Kennedy of This City. HE IS COLUMBIA GRADUATE Justice Kernochan Performs Ceremony in New York Home of Her Grandmother". The New York Times. 29 June 1934. Retrieved 2 June 2023.
  6. ^ "Morehead Patterson, 64, Dies; Chairman of American Machine; Inventor and Diplomat Guided Expansion of A.M.F. Into a 500-Million Giant". The New York Times. 6 August 1962. Retrieved 1 June 2023.
  7. ^ "MRS. RUFUS PATTERSON". The New York Times. 5 August 1968. Retrieved 1 June 2023.
  8. ^ a b c d Blair, William G. (31 January 1985). "H.P. PATTERSON, BANKER, IS DEAD". The New York Times. Retrieved 1 June 2023.
  9. ^ Heinemann, H. Erich (31 October 1968). "David Rockefeller Moves Up at Chase; Patterson, 43, Gets Post as President David Rockefeller and Patterson Elected to New Posts at Chase". The New York Times. Retrieved 1 June 2023.
  10. ^ a b "H. P. Patterson to Wed Mrs. Patricia Norris". The New York Times. 12 February 1970. Retrieved 2 June 2023.
  11. ^ a b "Herbert Parsons Patterson". The New York Times. 13 October 1972. Retrieved 1 June 2023.
  12. ^ a b c d "Mrs. Louise Oakey McVelgh Is Married At River Club to Herbert P. Patterson". The New York Times. 31 July 1949. Retrieved 2 June 2023.
  13. ^ "MRS. L. O. M'VEIGH WILL BE MARRIED; Former Louise Oakey Fiancee of Herbert P. Patterson-- Wedding. on July 30". The New York Times. 15 June 1949. Retrieved 2 June 2023.
  14. ^ "LUCY DE RHAM". The New York Times. 25 February 1977. Retrieved 1 June 2023.
  15. ^ "Casimir de Rham, 71, Dies; Ex-Partner in Brokerage". The New York Times. 3 March 1968. Retrieved 1 June 2023.
  16. ^ "Wedding Notes". The New York Times. 14 September 1919. Retrieved 1 June 2023.
  17. ^ "Katheryn C. Patterson, Lawyer, Fiancee of Thomas Kempner Jr". The New York Times. 23 July 1978. Retrieved 24 May 2023.
  18. ^ "Katheryn Clews Patterson Wed To Thomas Lenox Kempner Jr". The New York Times. 27 May 1979. Retrieved 24 May 2023.
  19. ^ "Patricia Patterson, a Sotheby's International Realty executive, dies". Palm Beach Daily News. September 3, 2016. Retrieved 2 June 2023.
  20. ^ "Mrs. Norris, H.P. Patterson Married Here". The New York Times. 1 May 1970. Retrieved 2 June 2023.
  21. ^ a b "Herbert P. Patterson, Lenox Library trustee". The Berkshire Eagle. 2 February 1985. p. 8. Retrieved 2 June 2023.
  22. ^ a b "About". www.stonoverfarm.com. Stonover Farm. Retrieved 2 June 2023.
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