Charles J Stewart (June 3, 1898 – July 14, 1987) was the first chairman of

Manufacturers Hanover Trust Company Manufacturers Hanover Corporation was the bank holding company formed as parent of Manufacturers Hanover Trust Company, a large New York bank formed by a merger in 1961. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufac ...

Early life

Stewart was raised in

Dallas, Texas Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County w ...

on Swiss Avenue and graduated from the Terrill School for Boys in 1914. At the age of 16 he went to

Yale University Yale University is a private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the third-oldest institution of higher education in the United States and among the most prestigious in the wo ...

, where he was a running back on the varsity football team for three years. He captained the Yale's 1917 football team and graduated in 1918. While at Yale, Charles was, allegedly, tapped by

Prescott Bush Prescott Sheldon Bush (May 15, 1895 – October 8, 1972) was an American banker as a Wall Street executive investment banker, he represented Connecticut in the from 1952 of the Bush family, he was the father of former Vice President and Pre ...

for

Skull and Bones Skull and Bones, also known as The Order, Order 322 or The Brotherhood of Death, is an undergraduate senior secret student society at Yale University in New Haven, Connecticut. The oldest senior class society at the university, Skull and Bone ...

. Upon graduation, he enlisted in the

U.S. Army The United States Army (USA) is the land service branch of the United States Armed Forces. It is one of the eight U.S. uniformed services, and is designated as the Army of the United States in the U.S. Constitution.Article II, section 2, cla ...

and served as a second lieutenant 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 ...

Early career

Stewart returned to Dallas after the war and began a real estate career. He joined the commercial banking department of the

New York Trust Company The New York Trust Company was a large trust and wholesale-banking business that specialized in servicing large industrial accounts. It merged with the Chemical Corn Exchange Bank and eventually the merged entity became Chemical Bank. History On ...

in 1930 and worked his way up the ladder. By 1949, he was president of the company.

Later career

In 1952, Stewart led the proposed merger of

with

Manufacturers Trust Company Manufacturers Hanover Corporation was the bank holding company formed as parent of Manufacturers Hanover Trust Company, a large New York City, New York bank formed by a merger in 1961. After 1969, Manufacturers Hanover Trust became a subsid ...

. That merger was stymied by his own stockholders, and Stewart resigned to become a general partner at

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 ...

, an investment bank. In 1961,

merged with

Hanover Bank Manufacturers Hanover Corporation was the bank holding company formed as parent of Manufacturers Hanover Trust Company, a large New York bank formed by a merger in 1961. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufac ...

, and Stewart became the first chairman of

Manufacturers Hanover Trust Manufacturers Hanover Corporation was the bank holding company formed as parent of Manufacturers Hanover Trust Company, a large New York bank formed by a merger in 1961. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufa ...

, which became the nation's fourth largest commercial bank. Elected chair, he served in that capacity until his retirement in 1963.(18 January 1961)
Stewart due to be Chairman is an untypical Texan
''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

'' In 1991, several years after Charles' passing,

would merge with Chemical Banking Corporation. Ultimately absorbing into J.P. Morgan Chase & Co. The offices of Manufacturer Hanover Trust at 270 Park Avenue are still the offices of J.P. Morgan Chase to this day.

Personal life

Stewart married Maude Emily Stewart (nee Tenison) of Dallas, Texas. Maude Emily was a graduate of the

The Hockaday School The Hockaday School is an independent, secular, college preparatory day school for girls located in Dallas, Texas, United States. The boarding school was for girls in grades 8–12 and the day school is from pre-kindergarten to grade 12. The ...

class of 1916 and later became the first president of the Hockaday Alumnae Association. Together they had one son Charles "Charlie" Jacob Stewart Jr. (1926-1981) and one daughter Emily Tenison Stewart Goyer (1923-1989). Stewart's daughter, Emily Tenison Stewart Goyer, is a graduate of

The Masters School The Masters School (colloquially known as Masters), is a private, coeducational boarding school and day college preparatory school located in Dobbs Ferry, New York. Its campus is located north of New York City in the Hudson Valley in Westches ...

Vassar College Vassar College ( ) is a private liberal arts college in Poughkeepsie, New York, United States. Founded in 1861 by Matthew Vassar, it was the second degree-granting institution of higher education for women in the United States, closely follo ...

, and received her master's degree from the Institute of Fine Art,

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin. In 1832, the ...

, in 1948. She married

Charles Wesley Goyer Charles is a masculine given name predominantly found in English and French speaking countries. It is from the French form ''Charles'' of the Proto-Germanic name (in runic alphabet) or ''*karilaz'' (in Latin alphabet), whose meaning was "f ...

and had a son and a daughter. Stewart Memorial

In 1940, accordingly to census records, Stewart lived at 25 Ridgecroft Road,

Bronxville, New York Bronxville is a village in Westchester County, New York, United States, located approximately north of Midtown Manhattan. It is part of the town of Eastchester. The village comprises one square mile (2.5 km2) of land in its entirety, a ...

. The records list his wife (39), daughter (16), son (13) and butler Anastasio Esealdeia (34). At this time Stewart is listed as Vice President at a Commercial Bank. In 1948 Stewart published an engagement announcement in The Bronxville Review-Press for his daughter's engagement. At the time the Stewart lived at 10 Beechwood Road,

. After Maude Emily's passing, Stewart met and married Clothilde de Veze. At the age of 89, he died of cardiac failure at his home in Naples, Florida. Three years after Stewart's passing, Clothide married

Marvin Bower Marvin Bower (August 1, 1903 – January 22, 2003) was an American business theorist and management consultant associated with McKinsey & Company. Under Bower's leadership, McKinsey grew from a small engineering and accounting firm to a leader ...

. He is buried in the Grove Hill Memorial Park in Dallas, Texas.

References

{{DEFAULTSORT:Stewart, Charles J. 1898 births 1987 deaths Businesspeople from Dallas Yale University alumni