John Mortimer Schiff (August 26, 1904 – May 9, 1987) was an American investment banker and philanthropist. He was a partner in the firm Kuhn, Loeb & Co., as well as a trustee of the

John Simon Guggenheim Memorial Foundation The John Simon Guggenheim Memorial Foundation was founded in 1925 by Olga and Simon Guggenheim in memory of their son, who died on April 26, 1922. The organization awards Guggenheim Fellowship Guggenheim Fellowships are grants that have been ...

, a breeder of championship

thoroughbred The Thoroughbred is a horse breed best known for its use in horse racing. Although the word ''thoroughbred'' is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed. Thoroughbreds are c ...

racehorses, and the national president of the

Boy Scouts of America The Boy Scouts of America (BSA, colloquially the Boy Scouts) is one of the largest scouting organizations and one of the largest youth organizations in the United States, with about 1.2 million youth participants. The BSA was founded i ...

from 1951 to 1956.

Biography

Schiff was born to a

German-Jewish The history of the Jews in Germany goes back at least to the year 321, and continued through the Early Middle Ages (5th to 10th centuries CE) and High Middle Ages (''circa'' 1000–1299 CE) when Jewish immigrants founded the Ashkenazi Jewish ...

banking family in New York, the son of Adele (née Neustadt) and Mortimer Loeb Schiff. He was grandson of Jacob H. Schiff. In 1925, Schiff graduated from

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 an assistant business manager of campus humor magazine ''

The Yale Record ''The Yale Record'' is the campus humor magazine of Yale University. Founded in 1872, it became the oldest humor magazine in the world when ''Punch'' folded in 2002."History", The Yale Record, March 10, 2010. http://www.yalerecord.com/about/histo ...

''. After a year at

Oxford University Oxford () is a city in England. It is the county town and only city of Oxfordshire. In 2020, its population was estimated at 151,584. It is north-west of London, south-east of Birmingham and north-east of Bristol. The city is home to the ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

, he worked at

Bankers Trust Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corpor ...

. For a time, Schiff worked on the

Missouri Pacific Railroad The Missouri Pacific Railroad , commonly abbreviated as MoPac, was one of the first railroads in the United States west of the Mississippi River. MoPac was a Class I railroad growing from dozens of predecessors and mergers. In 1967, the railroad ...

. Following the 1931 death of his father, he became a partner in the

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 ...

ing firm Kuhn, Loeb & Co.

Scouting movement

Both John Schiff and his father were notable early

leaders Leadership, both as a research area and as a practical skill, encompasses the ability of an individual, group or organization to "lead", influence or guide other individuals, teams, or entire organizations. The word "leadership" often gets view ...

. John Schiff served as

national president of the Boy Scouts of America The national chair is the leading volunteer of the National Executive Board of the Boy Scouts of America, a position comparable to the chairman of a board of directors. Prior to 2018, the role of National Chair was titled National President. T ...

from 1951 to 1956. Schiff also served on the

World Scout Committee The World Organization of the Scout Movement (WOSM ) is the largest international Scouting organization. WOSM has 173 members. These members are recognized national Scout organizations, which collectively have around 43 million participants. WOSM ...

of the

World Organization of the Scout Movement The World Organization of the Scout Movement (WOSM ) is the largest international Scouting organization. WOSM has 173 members. These members are recognized national Scout organizations, which collectively have around 43 million participants. WOS ...

from 1955 until 1961. Schiff was awarded the

Bronze Wolf The Bronze Wolf Award is bestowed by the World Scout Committee (WSC) to acknowledge "outstanding service by an individual to the World Scout Movement". It is the highest honor that can be given a volunteer Scout leader in the world and it is the ...

, the only distinction of the

, awarded by the World Scout Committee for exceptional services to world Scouting, in 1961. The John M. Schiff Scout Reservation was named in his honor.

Thoroughbred horse racing

Schiff owned and bred

racehorse Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its basic pr ...

s. He was the

breeder A breeder is a person who selectively breeds carefully selected mates, normally of the same breed to sexually reproduce offspring with specific, consistently replicable qualities and characteristics. This might be as a farmer, agriculturalist, or ...

of the 1970

American Champion Two-Year-Old Colt The American Champion Two-Year-Old Male Horse is an American Thoroughbred horse racing honor awarded annually in Thoroughbred flat racing. It became part of the Eclipse Awards program in 1971. The award originated in 1936 when the ''Daily Racing F ...

Hoist the Flag and successfully raced a number of horses including

Plugged Nickle Plugged Nickle (March 1, 1977 – 1997 in Kentucky) was an American Thoroughbred racehorse Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) ove ...

and Droll Role.

Philanthropy

From 1965 to 1976, Schiff served as a Trustee of the

then as Trustee Emeritus until his death in 1987.

Personal life

John Schiff married Edith Brevoort Baker, granddaughter of

George Fisher Baker George Fisher Baker (March 27, 1840 – May 2, 1931) was an American financier and philanthropist. Known as the "Dean of American Banking", he was also known for his taciturnity. Baker made a fortune after the Civil War in railroads and banking, ...

who was called "the richest, most powerful and most taciturn commercial banker in U. S. history" in a 1934 ''

TIME Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to ...

'' magazine article. They had two sons, David T. and Peter G. Schiff. After his first wife's death in 1975, he married Josephine Laimbeer Fell, the widow of John R. Fell Jr., who had been a partner in Lehman Brothers. His son David served as chairman of

Wildlife Conservation Society The Wildlife Conservation Society (WCS) is a non-governmental organization headquartered at the Bronx Zoo in New York City, that aims to conserve the world's largest wild places in 14 priority regions. Founded in 1895 as the New York Zoological ...

and married Martha Elizabeth Lawler in an

Episcopal Episcopal may refer to: *Of or relating to a bishop, an overseer in the Christian church *Episcopate, the see of a bishop – a diocese *Episcopal Church (disambiguation), any church with "Episcopal" in its name ** Episcopal Church (United State ...

ceremony in 1963. In 1997, David's son, Andrew Newman Schiff, married former Vice-President

Al Gore Albert Arnold Gore Jr. (born March 31, 1948) is an American politician, businessman, and environmentalist who served as the 45th vice president of the United States from 1993 to 2001 under President Bill Clinton. Gore was the Democratic Part ...

's daughter, Karenna Aitcheson Gore in an Episcopal ceremony at the

Washington National Cathedral The Cathedral Church of Saint Peter and Saint Paul in the City and Diocese of Washington, commonly known as Washington National Cathedral, is an American cathedral of the Episcopal Church. The cathedral is located in Washington, D.C., the cap ...

.New York Times: "Andrew Schiff, Karenna Gore"
July 13, 1997

References