André Meyer
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André Benoît Mathieu Meyer (September 3, 1898 – September 9, 1979) was a French-American
investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...
er.


Biography

Meyer was born to a low-income
Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...
family in
Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...
. As a boy, he began following the workings of the
stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as ...
and out of necessity left school at age sixteen to work as a messenger at the
Paris Bourse Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam, Lisbon, and Brussels exchanges in September 2000 to form Euronext NV. As of 2022, the 795 companies listed had a combined market ...
. Ambitious, he used his time to study the intricacies of stock trading and because of personnel shortages created by so many young French men serving in the military in
World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...
, he was able to get a job with Baur & Fils, a small Paris bank. By 1925, his performance with the bank got him noticed by Raymond Philippe, who arranged for him to get an offer from the prestigious investment bankers
Lazard Frères Lazard Ltd (formerly known as Lazard Frères & Co.) is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services, primarily with institutional clients. It is the world's ...
. Within a few years Meyer was made a partner, succeeding to Raymond Philippe. At Lazard, André Meyer organized SOVAC (''Societé pour la Vente à Crédit d'Automobiles''), a finance company that in the late twenties introduced the concept of automobile financing for consumers. It made Lazard Frères a significant force in consumer credit as well as in product leasing. As well, from 1927, representing Lazard along with Paul Frantzen and Raymond Philippe, André Meyer was elected to Board of Directors of the failing automobile giant
Citroën Citroën () is a French automobile brand. The "Automobiles Citroën" manufacturing company was founded in March 1919 by André Citroën. Citroën is owned by Stellantis since 2021 and previously was part of the PSA Group after Peugeot acquired ...
. They took charge of company expenditures and substantially reduced operating costs while putting together a financial restructuring plan that saved the company from liquidation. For his service to the economy of France, the government awarded him with the
Legion of Honor The National Order of the Legion of Honour (french: Ordre national de la Légion d'honneur), formerly the Royal Order of the Legion of Honour ('), is the highest French order of merit, both military and civil. Established in 1802 by Napoleon ...
. Married with two children, Meyer, who was Jewish, and his family were forced to flee France following the
Nazi Nazism ( ; german: Nazismus), the common name in English for National Socialism (german: Nationalsozialismus, ), is the far-right totalitarian political ideology and practices associated with Adolf Hitler and the Nazi Party (NSDAP) in ...
occupation during
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
. He came to Lazard Frères'
New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
office with Chairman
Pierre David-Weill Pierre David-Weill (8 March 1900 – 14 January 1975) was a French investment banker. Early life Pierre Sylvain Désiré Gérard David-Weill was born on 8 March 1900 in Paris, France, into a Jewish family. His father, David David-Weill (1871-195 ...
(1900–1975) and following the Allied Forces liberation in 1944 David-Weill returned to France and Meyer was appointed head of the American operations, a position he would occupy for the rest of his life. André Meyer, called "the most creative financial genius of our time in the investment banking world" by
David Rockefeller David Rockefeller (June 12, 1915 – March 20, 2017) was an American investment banker who served as chairman and chief executive of Chase Manhattan Corporation. He was the oldest living member of the third generation of the Rockefeller family, ...
, became one of the most important people in American business with an influence that extended around the globe. Known as "The Picasso of Banking," he introduced innovative financing techniques to post-War American business. During the 1960s, Meyer was responsible for making Lazard Frères the top mergers and acquisitions (M&A) firm in the U.S. He put together prodigious deals through
leveraged buyouts A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money ( leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loa ...
for companies such as International Telephone & Telegraph Company (ITT) who grew to become the ninth largest industrial corporation in the United States. Although he personally was publicity-shy, André Meyer was an advisor to the
Kennedy family The Kennedy family is an American political family that has long been prominent in American politics, public service, entertainment, and business. In 1884, 35 years after the family's arrival from Ireland, Patrick Joseph "P. J." Kennedy be ...
and a lifelong friend and advisor to
Jackie Onassis Jackie or Jacky may refer to: People and fictional characters * Jackie (given name), a list of people and fictional characters named Jackie or Jacky ** Jackie, current ring name of female professional wrestler Jacqueline Moore ** Jackie Lee (I ...
. He was a friend and advisor to other high-profile public figures such as
William S. Paley William Samuel Paley (September 28, 1901 – October 26, 1990) was an American businessman, primarily involved in the media, and best known as the chief executive who built the Columbia Broadcasting System ( CBS) from a small radio network into ...
at
CBS CBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainm ...
and
Katharine Graham Katharine Meyer Graham (June 16, 1917 – July 17, 2001) was an American newspaper publisher. She led her family's newspaper, ''The Washington Post'', from 1963 to 1991. Graham presided over the paper as it reported on the Watergate scandal, whi ...
at ''
The Washington Post ''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large nati ...
'. He was also a close confidant of U.S, President
Lyndon Johnson Lyndon Baines Johnson (; August 27, 1908January 22, 1973), often referred to by his initials LBJ, was an American politician who served as the 36th president of the United States from 1963 to 1969. He had previously served as the 37th vice ...
, consulting at the
Oval Office The Oval Office is the formal working space of the President of the United States. Part of the Executive Office of the President of the United States, it is located in the West Wing of the White House, in Washington, D.C. The oval-shaped room ...
several times a year during Johnson's tenure. An avid collector of art objects, Meyer's eclectic assemblages included paintings by
Claude Monet Oscar-Claude Monet (, , ; 14 November 1840 – 5 December 1926) was a French painter and founder of impressionist painting who is seen as a key precursor to modernism, especially in his attempts to paint nature as he perceived it. During ...
,
Marc Chagall Marc Chagall; russian: link=no, Марк Заха́рович Шага́л ; be, Марк Захаравіч Шагал . (born Moishe Shagal; 28 March 1985) was a Russian-French artist. An early modernism, modernist, he was associated with se ...
, and
Pablo Picasso Pablo Ruiz Picasso (25 October 1881 – 8 April 1973) was a Spanish painter, sculptor, printmaker, ceramicist and Scenic design, theatre designer who spent most of his adult life in France. One of the most influential artists of the 20th ce ...
,
sculpture Sculpture is the branch of the visual arts that operates in three dimensions. Sculpture is the three-dimensional art work which is physically presented in the dimensions of height, width and depth. It is one of the plastic arts. Durable sc ...
s,
Louis XIV , house = Bourbon , father = Louis XIII , mother = Anne of Austria , birth_date = , birth_place = Château de Saint-Germain-en-Laye, Saint-Germain-en-Laye, France , death_date = , death_place = Palace of Vers ...
furniture, and original music scores. In 1961, he gave artwork to
Museum of Modern Art The Museum of Modern Art (MoMA) is an art museum located in Midtown Manhattan, New York City, on 53rd Street between Fifth and Sixth Avenues. It plays a major role in developing and collecting modern art, and is often identified as one of ...
in New York, including a major work by
Paul Cézanne Paul Cézanne ( , , ; ; 19 January 1839 – 22 October 1906) was a French artist and Post-Impressionism, Post-Impressionist painter whose work laid the foundations of the transition from the 19th-century conception of artistic endeavour to a ...
. Following his death, the
Metropolitan Museum of Art The Metropolitan Museum of Art of New York City, colloquially "the Met", is the largest art museum in the Americas. Its permanent collection contains over two million works, divided among 17 curatorial departments. The main building at 1000 ...
acquired his collection of 19th century European art. His collection of music scores began with works by
Georg Muffat Georg Muffat (1 June 1653 – 23 February 1704) was a Baroque composer and organist. He is best known for the remarkably articulate and informative performance directions printed along with his collections of string pieces ''Florilegium Primum'' a ...
and
Jean-Philippe Rameau Jean-Philippe Rameau (; – ) was a French composer and music theory, music theorist. Regarded as one of the most important French composers and music theorists of the 18th century, he replaced Jean-Baptiste Lully as the dominant composer of Fr ...
, and expanded to include scores by
Georg Frideric Handel George Frideric (or Frederick) Handel (; baptised , ; 23 February 1685 – 14 April 1759) was a German-British Baroque composer well known for his operas, oratorios, anthems, concerti grossi, and organ concertos. Handel received his training i ...
,
François Couperin François Couperin (; 10 November 1668 – 11 September 1733) was a French Baroque composer, organist and harpsichordist. He was known as ''Couperin le Grand'' ("Couperin the Great") to distinguish him from other members of the musically talented ...
,
Antonio Vivaldi Antonio Lucio Vivaldi (4 March 1678 – 28 July 1741) was an Italian composer, virtuoso violinist and impresario of Baroque music. Regarded as one of the greatest Baroque composers, Vivaldi's influence during his lifetime was widespread a ...
,
Vincent Lübeck Vincent Lübeck (c. September 1654 – 9 February 1740) was a German composer and organist. He was born in Padingbüttel and worked as organist and composer at Stade's St. Cosmae et Damiani (1675–1702) and Hamburg's famous St. Nikolai (1702–1 ...
,
Jean-Baptiste Lully Jean-Baptiste Lully ( , , ; born Giovanni Battista Lulli, ; – 22 March 1687) was an Italian-born French composer, guitarist, violinist, and dancer who is considered a master of the French Baroque music style. Best known for his operas, he ...
,
Christoph Willibald Gluck Christoph Willibald (Ritter von) Gluck (; 2 July 1714 – 15 November 1787) was a composer of Italian and French opera in the early classical period. Born in the Upper Palatinate and raised in Bohemia, both part of the Holy Roman Empire, he g ...
, a sketchleaf of
Ludwig van Beethoven Ludwig van Beethoven (baptised 17 December 177026 March 1827) was a German composer and pianist. Beethoven remains one of the most admired composers in the history of Western music; his works rank amongst the most performed of the classical ...
once owned by
Frédéric Chopin Frédéric François Chopin (born Fryderyk Franciszek Chopin; 1 March 181017 October 1849) was a Polish composer and virtuoso pianist of the Romantic period, who wrote primarily for solo piano. He has maintained worldwide renown as a leadin ...
,
Igor Stravinsky Igor Fyodorovich Stravinsky (6 April 1971) was a Russian composer, pianist and conductor, later of French (from 1934) and American (from 1945) citizenship. He is widely considered one of the most important and influential composers of the ...
,
Arnold Schoenberg Arnold Schoenberg or Schönberg (, ; ; 13 September 187413 July 1951) was an Austrian-American composer, music theorist, teacher, writer, and painter. He is widely considered one of the most influential composers of the 20th century. He was as ...
,
Johann Kuhnau Johann Kuhnau (; 6 April 16605 June 1722) was a German polymath, known primarily as a composer today. He was also active as a novelist, translator, lawyer, and music theorist, and was able to combine these activities with his duties in his offi ...
,
Domenico Scarlatti Giuseppe Domenico Scarlatti, also known as Domingo or Doménico Scarlatti (26 October 1685-23 July 1757), was an Italian composer. He is classified primarily as a Baroque composer chronologically, although his music was influential in the deve ...
,
Carl Philipp Emanuel Bach Carl Philipp Emanuel Bach (8 March 1714 – 14 December 1788), also formerly spelled Karl Philipp Emmanuel Bach, and commonly abbreviated C. P. E. Bach, was a German Classical period musician and composer, the fifth child and sec ...
,
Johann Christian Bach Johann Christian Bach (September 5, 1735 – January 1, 1782) was a German composer of the Classical period (music), Classical era, the eighteenth child of Johann Sebastian Bach, and the youngest of his eleven sons. After living in Italy for ...
, and
Carl Friedrich Abel Carl Friedrich Abel (22 December 1723 – 20 June 1787) was a German composer of the Classical era. He was a renowned player of the viola da gamba, and produced significant compositions for that instrument. Life Abel was born in Köthen, ...
. When his collection was sold by
Sotheby's Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and ...
on 16 and 17 October 2012, they noted that the collection contained beautifully bound 16th and 17th century scores by composers whose manuscripts rarely come up at auction anymore including
Orlande de Lassus Orlande de Lassus ( various other names; probably – 14 June 1594) was a composer of the late Renaissance. The chief representative of the mature polyphonic style in the Franco-Flemish school, Lassus stands with Giovanni Pierluigi da Palest ...
,
Claudio Monteverdi Claudio Giovanni Antonio Monteverdi (baptized 15 May 1567 – 29 November 1643) was an Italian composer, choirmaster and string player. A composer of both secular and sacred music, and a pioneer in the development of opera, he is considered ...
,
Jacques Arcadelt Jacques Arcadelt (also Jacob Arcadelt; 14 October 1568) was a Franco-Flemish composer of the Renaissance, active in both Italy and France, and principally known as a composer of secular vocal music. Although he also wrote sacred vocal music, he wa ...
,
Cristóbal de Morales Cristóbal de Morales (c. 1500 – between 4 September and 7 October 1553) was a Spanish composer of the Renaissance. He is generally considered to be the most influential Spanish composer before Tomás Luis de Victoria. Life Cristóbal de Mor ...
,
Luca Marenzio Luca Marenzio (also Marentio; October 18, 1553 or 1554 – August 22, 1599) was an Italian composer and singer of the late Renaissance. He was one of the most renowned composers of madrigals, and wrote some of the most famous examples of the fo ...
,
Giovanni Pierluigi da Palestrina Giovanni Pierluigi da Palestrina ( – 2 February 1594) was an Italian composer of late Renaissance music. The central representative of the Roman School, with Orlande de Lassus and Tomás Luis de Victoria, Palestrina is considered the leading ...
,
Marco da Gagliano Marco da Gagliano (1 May 1582 – 25 February 1643) was an Italian composer of the early Baroque era. He was important in the early history of opera and the development of the solo and concerted madrigal. Life He was born in Florence and li ...
,
Girolamo Frescobaldi Girolamo Alessandro Frescobaldi (; also Gerolamo, Girolimo, and Geronimo Alissandro; September 15831 March 1643) was an Italian composer and virtuoso keyboard player. Born in the Duchy of Ferrara, he was one of the most important composers of k ...
,
Jacopo Peri Jacopo Peri (20 August 156112 August 1633), known under the pseudonym Il Zazzerino, was an Italian composer and singer of the transitional period between the Renaissance and Baroque styles, and is often called the inventor of opera. He wrote the ...
&
Ottavio Rinuccini Ottavio Rinuccini (20 January 1562 – 28 March 1621) was an Italian poet, courtier, and opera librettist at the end of the Renaissance and beginning of the Baroque eras. In collaborating with Jacopo Peri to produce the first opera, ''Dafne'', in ...
, and
Antonio Cesti Pietro Marc'Antonio Cesti () (baptism 5 August 162314 October 1669), known today primarily as an Italian composer of the Baroque era, was also a singer (tenor), and organist. He was "the most celebrated Italian musician of his generation". Biogra ...
, among others. André Meyer maintained a vacation home in Crans-sur-Sierre,
Valais Valais ( , , ; frp, Valês; german: Wallis ), more formally the Canton of Valais,; german: Kanton Wallis; in other official Swiss languages outside Valais: it, (Canton) Vallese ; rm, (Chantun) Vallais. is one of the cantons of Switzerland, 26 ...
,
Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
and while there in the summer of 1979, he fell ill. He died of circulatory problems in the Nestlé Hospital in
Lausanne , neighboring_municipalities= Bottens, Bretigny-sur-Morrens, Chavannes-près-Renens, Cheseaux-sur-Lausanne, Crissier, Cugy, Écublens, Épalinges, Évian-les-Bains (FR-74), Froideville, Jouxtens-Mézery, Le Mont-sur-Lausanne, Lugrin (FR-74), ...
, and was interred near his closest friend and business partner
Pierre David-Weill Pierre David-Weill (8 March 1900 – 14 January 1975) was a French investment banker. Early life Pierre Sylvain Désiré Gérard David-Weill was born on 8 March 1900 in Paris, France, into a Jewish family. His father, David David-Weill (1871-195 ...
in the
Jew Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""Th ...
ish section of the Cemetery of Montparnasse in the
Montparnasse Quarter Montparnasse () is an area in the south of Paris, France, on the left bank of the river Seine, centred at the crossroads of the Boulevard du Montparnasse and the Rue de Rennes, between the Rue de Rennes and boulevard Raspail. Montparnasse has be ...
of Paris, France.


Legacy

Felix Rohatyn Felix George Rohatyn ( ; May 29, 1928 – December 14, 2019) was an American investment banker and diplomat. He spent most of his career with Lazard, where he brokered numerous large corporate mergers and acquisitions from the 1960s through ...
credits Meyer as his mentor. Rohatyn asserts that Meyer's guidance and advice made success at Lazard possible.
Charlie Rose Show ''Charlie Rose'' (also known as ''The Charlie Rose Show'') is an American television interview and talk show, with Charlie Rose as executive producer, executive editor, and host. The show was syndicated on PBS from 1991 until 2017 and is owned b ...

Conversation with Felix Rohatyn
, January 4, 2000.


Notes


References

* {{DEFAULTSORT:Meyer, Andre 1898 births 1979 deaths American bankers American financial businesspeople American art collectors American money managers American philanthropists French art collectors French emigrants to the United States French money managers 19th-century French Jews Recipients of the Legion of Honour Burials at Montparnasse Cemetery