Spencer Fox Eccles (born August 24, 1934,

Ogden, Utah Ogden is a city in and the county seat of Weber County, Utah, United States, approximately east of the Great Salt Lake and north of Salt Lake City. The population was 87,321 in 2020, according to the US Census Bureau, making it Utah's eighth ...

) is a prominent

financier An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Type ...

and

philanthropist Philanthropy is a form of altruism that consists of "private initiatives, for the Public good (economics), public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private goo ...

Salt Lake City Salt Lake City (often shortened to Salt Lake and abbreviated as SLC) is the Capital (political), capital and List of cities and towns in Utah, most populous city of Utah, United States. It is the county seat, seat of Salt Lake County, Utah, Sal ...

, Utah and

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

emeritus of the Intermountain Region of

Wells Fargo Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and intern ...

Corporation. From 1982 to 2000, he was chairman and

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

First Security Corporation First Security Corporation was a multistate bank holding company in the western United States, primarily in Utah, Idaho, New Mexico, Oregon, Nevada, and Wyoming. Headquartered in Salt Lake City, Utah, First Security merged with Wells Fargo in 2000 ...

of Salt Lake City, which was, until its sale to Wells Fargo in 2000, the largest banking organization in the

Mountain West The Mountain West Conference (MW) is one of the collegiate athletic conferences affiliated with the National Collegiate Athletic Association (NCAA) Division I Football Bowl Subdivision (FBS) (formerly I-A). The MW officially began operations o ...

measured by assets, deposits and market capitalization.

Biography

Eccles is the son of Spencer Stoddard Eccles and Pauline Hope Fox and the grandson of Ellen Stoddard and David Eccles, a Utah

banker A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becaus ...

and

industrialist A business magnate, also known as a tycoon, is a person who has achieved immense wealth through the ownership of multiple lines of enterprise. The term characteristically refers to a powerful entrepreneur or investor who controls, through perso ...

. He earned a

Bachelor of Science A Bachelor of Science (BS, BSc, SB, or ScB; from the Latin ') is a bachelor's degree awarded for programs that generally last three to five years. The first university to admit a student to the degree of Bachelor of Science was the University of ...

finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

in 1956 from the

University of Utah The University of Utah (U of U, UofU, or simply The U) is a public research university in Salt Lake City, Utah. It is the flagship institution of the Utah System of Higher Education. The university was established in 1850 as the University of De ...

, where he was also a member of

Beta Theta Pi Beta Theta Pi (), commonly known as Beta, is a North American social fraternity that was founded in 1839 at Miami University in Oxford, Ohio. One of North America's oldest fraternities, as of 2022 it consists of 144 active chapters in the Unite ...

, and a

master of business administration A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accoun ...

in 1958 from Columbia University School of Business. Eccles is the nephew of both George S. Eccles and

Marriner Stoddard Eccles Marriner Stoddard Eccles (September 9, 1890 – December 18, 1977) was an American economist and banker who served as the 7th chairman of the Federal Reserve from 1934 to 1948. After his term as chairman, Eccles continued to serve as a member o ...

. In addition to his role at First Security, Eccles has also been a

director Director may refer to: Literature * ''Director'' (magazine), a British magazine * ''The Director'' (novel), a 1971 novel by Henry Denker * ''The Director'' (play), a 2000 play by Nancy Hasty Music * Director (band), an Irish rock band * ''D ...

of the

Union Pacific Railroad The Union Pacific Railroad , legally Union Pacific Railroad Company and often called simply Union Pacific, is a freight-hauling railroad that operates 8,300 locomotives over routes in 23 U.S. states west of Chicago and New Orleans. Union Paci ...

Intermountain Health Care Intermountain Health (formerly Intermountain Healthcare) is a not-for-profit healthcare system and is the largest healthcare provider in the Intermountain West of the United States. Intermountain Healthcare provides ambulatory and acute health s ...

, the

Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco (informally referred to as the San Francisco Fed) is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, ...

, the National Chamber of Commerce, the

ZCMI Zion's Co-operative Mercantile Institution (typically referred to as ZCMI) was an American department store chain. It was founded in Salt Lake City, Utah, on October 9, 1868 by Brigham Young. For many years it used the slogan, "America's First De ...

Corporation, the Anderson Lumber Company, Amalgamated Sugar, the Alta Ski Corporation, the U.S. Ski and Snowboard Association, and the National Parks Foundation. He was a member of the three-person executive committee of the Salt Lake Olympic Organizing Committee and, in recognition of his critical contribution to the 2002 Olympic Games in Salt Lake, was appointed

mayor In many countries, a mayor is the highest-ranking official in a municipal government such as that of a city or a town. Worldwide, there is a wide variance in local laws and customs regarding the powers and responsibilities of a mayor as well a ...

of the

Olympic Village An Olympic Village is an accommodation center built for the Olympic Games, usually within an Olympic Park or elsewhere in a host city. Olympic Villages are built to house all participating athletes, as well as officials and athletic trainers. Afte ...

during the games and received the

Pierre de Coubertin medal The Pierre de Coubertin medal is a special decoration awarded by the International Olympic Committee that "pays tribute to institutions with a pedagogical and educational role and to people who, through their research and the creation of intellect ...

from the

International Olympic Committee The International Olympic Committee (IOC; french: link=no, Comité international olympique, ''CIO'') is a non-governmental sports organisation based in Lausanne, Switzerland. It is constituted in the form of an association under the Swiss ...

, the Olympic movement's highest honor.

Family

The Eccles family is noted for its philanthropy in the West, and Eccles is actively involved in many of the various Eccles family

foundations Foundation may refer to: * Foundation (nonprofit), a type of charitable organization ** Foundation (United States law), a type of charitable organization in the U.S. ** Private foundation, a charitable organization that, while serving a good cause ...

, including as

of the

George S. and Dolores Dore Eccles Foundation George may refer to: People * George (given name) * George (surname) * George (singer), American-Canadian singer George Nozuka, known by the mononym George * George Washington, First President of the United States * George W. Bush, 43rd Presiden ...

, the largest philanthropic foundation in Utah, president of the Eccles Family Foundation, which he founded, and of the Marriner S. Eccles Foundation, and

trustee Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to ...

of the Emma Eccles Jones Foundation and the Nora Eccles Treadwell Foundation. Utah news organizations have identified Eccles as one of the handful of most influential people in the state, along with the

President of the Church of Jesus Christ of Latter-day Saints The President of the Church is the highest office of the Church of Jesus Christ of Latter-day Saints (LDS Church). It was the office held by Joseph Smith, the church's founder. The church's president is its leader and the head of the First Pres ...

, the

Governor A governor is an administrative leader and head of a polity or political region, ranking under the head of state and in some cases, such as governors-general, as the head of state's official representative. Depending on the type of political ...

, and

Orrin Hatch Orrin Grant Hatch (March 22, 1934 – April 23, 2022) was an American attorney and politician who served as a United States senator from Utah from 1977 to 2019. Hatch's 42-year Senate tenure made him the longest-serving Republican U.S. senato ...

, the state's former senior senator. His daughter, Hope Eccles, is married to

Vice Chair of the Federal Reserve The vice chair of the Board of Governors of the Federal Reserve System is the second-highest officer of the Federal Reserve, after the chair of the Federal Reserve. In the absence of the chair, the vice chair presides over the meetings Board of ...

Randal Quarles Randal Keith Quarles (born September 5, 1957) is an American private equity investor and attorney who served as the first Vice Chair of the Federal Reserve for supervision from 2017 to 2021. He concurrently served as the chair of the Financial St ...

References

External links

George S. and Dolores Doré Eccles FoundationSpencer F. Eccles papers, 2007

{{DEFAULTSORT:Eccles, Spencer American philanthropists Living people Businesspeople from Ogden, Utah 1934 births Recipients of the Pierre de Coubertin medal David Eccles School of Business alumni Columbia Business School alumni American people of Scottish descent Eccles family