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Gedale B. Horowitz

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Gedale B. Horowitz
BornJune 13, 1932
DiedApril 2, 2020
NationalityAmerican
Alma materColumbia University (BA, JD)
Occupation(s)banker, municipal bond expert
Known forPartner at Salomon Brothers
Chairman of the Municipal Securities Rulemaking Board

Gedale B. "Dale" Horowitz (June 13, 1932 – April 2, 2020) was an American banker and securities industry regulator known for serving on the executive committee of Salomon Brothers,[1] founding and chairing the Public Securities Association and Securities Industry Association, and being the founding member and chairman of the Municipal Securities Rulemaking Board.

Education

Horowitz was educated at the Bronx High School of Science, graduated from Columbia College in 1953 and Columbia Law School in 1955.[2][3]

Career

Horowitz joined Salomon Brothers in 1955 after graduating from law school and was made general partner in 1967. He would then serve on the executive committee of Salomon Brothers until its sale to Travelers Group in 1997.[4] After the merger between the Travelers Group and Citicorp in 1998, he served as a managing director of Citigroup's Institutional Clients Group until his retirement in 2019, having served the firm and its predecessor for 60 years.[5]

In addition to his banking career, he served as a key delegate of industry trade groups and founded the Public Securities Association, a trade association of banks, dealers and brokers that underwrite, trade and sell U.S. federal, state and local government securities, in 1967 that later became the Bond Market Association and served as its chairman in 1979.[6][7] He also chaired the Securities Industry Association in 1991, having served as its director from 1984 to 1986 and 1988 to 1990, as well as its treasurer in 1987.[4][7][8][9] The two financial industry associations were later merged into the Securities Industry and Financial Markets Association.[10] He was the only person in the securities industry to have served both posts.[11]

He also served on government boards, including the U.S. Treasury Borrowing Advisory Committee, from 1979 to 1991 and from 1996 to 2000, and served as its chairman in 1986 and 1987.[12] He is most known for being appointed by the U.S. Securities and Exchange Commission to serve as a founding member of the Municipal Securities Rulemaking Board and its chairman in 1977-78.[13][14]

Horowitz played an instrumental role in the financial recovery of New York City and New York State and served as a director of the Municipal Assistance Corporation from 1988 to 1994.[9][12][15] As senior director of Salomon Brothers, he later led the financial recovery of Orange County, California as the county's financial advisor during its 18-month bankruptcy period.[16]

Philanthropy

He served as a trustee of Barnard College for 34 years and was a trustee emeritus of the women's college.[4][17]

Personal life

He was predeceased by his wife, Barbara Silver Horowitz, in 2011.[5] She was also a trustee of Barnard College and a graduate in the class of 1955.[2] Horowitz died on April 2, 2020, at age 87 after a long illness.[18]

References

  1. ^ "Behind the Salomon Brothers Buyout (Fortune, 1981)". Fortune. Retrieved 2021-09-01.
  2. ^ a b "Scholars of Distinction | Barnard College". barnard.edu. Retrieved 2020-05-25.
  3. ^ "Class of 2010 Joins Ranks of Alumni". Columbia College Today. Retrieved May 25, 2020.
  4. ^ a b c "Longtime Citi banker Dale Horowitz hangs it up". Bond Buyer. 2019-06-21. Retrieved 2020-05-25.
  5. ^ a b "Gedale B. "Dale" Horowitz, 87, former MSRB chair, dies". Bond Buyer. 2020-04-08. Retrieved 2020-05-25.
  6. ^ "SIFMA Notes the Passing of Industry Leader Dale Horowitz - SIFMA Notes the Passing of Industry Leader Dale Horowitz - SIFMA". www.sifma.org. Retrieved 2020-05-25.
  7. ^ a b "Salomon's Horowitz Resigns from PSA-Treasury Panel". AP NEWS. Retrieved 2020-05-25.
  8. ^ Hinden, Stan (1991-08-28). "REGULATORS REVIEW SALOMON CONTRACT". Washington Post. ISSN 0190-8286. Retrieved 2020-05-25.
  9. ^ a b New York Court of Appeals. Records and Briefs.: 81 NY2D 336, RECORD part 2, SCHULTZ V ST OF NEW YORK. New York Court of Appeals. 1992. p. 216.
  10. ^ "Securities Industry Association And The Bond Market Association Merge To Launch The Securities Industry And Financial Markets Association - Global Custodian – The Leading quarterly magazine covering the international securities services industry". www.globalcustodian.com. Retrieved 2020-05-25.
  11. ^ "National Financial Leader to be Honored by Board of Supervisors". www.ocgov.com. Retrieved 2020-05-25.
  12. ^ a b "Fixed Income News | Fidelity Investments". fixedincome.fidelity.com. Retrieved 2020-05-25.
  13. ^ "Fiscal Year 1975 Board Members". www.msrb.org. Retrieved 2020-05-25.
  14. ^ "Fiscal Year 1978 Board Members". www.msrb.org. Retrieved 2020-05-25.
  15. ^ Cole, Robert J. (1987-10-13). "Salomon to Dismiss 12% of Staff And End Its Municipal Bond Role". The New York Times. ISSN 0362-4331. Retrieved 2020-05-25.
  16. ^ "Orange County Poised To Emerge From Bankruptcy Successful Bond Sale Sets Stage For Struggling County To Regain Financial Footing | The Spokesman-Review". www.spokesman.com. Retrieved 2020-05-25.
  17. ^ "Board of Trustees | Barnard College". barnard.edu. Retrieved 2020-05-25.
  18. ^ "GEDALE HOROWITZ". Apr. 4, 2020. Retrieved May 25, 2020.
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