John Howard Dalton (born December 13, 1941) is an American politician and investor. Dalton was

Secretary of the Navy The secretary of the Navy (or SECNAV) is a statutory officer () and the head (chief executive officer) of the Department of the Navy, a military department (component organization) within the United States Department of Defense. By law, the se ...

from July 22, 1993 to November 16, 1998.

Education and Navy service

Dalton attended

Louisiana State University Louisiana State University (officially Louisiana State University and Agricultural and Mechanical College, commonly referred to as LSU) is a public land-grant research university in Baton Rouge, Louisiana. The university was founded in 1860 n ...

for a year before transferring to the

U.S. Naval Academy The United States Naval Academy (US Naval Academy, USNA, or Navy) is a federal service academy in Annapolis, Maryland. It was established on 10 October 1845 during the tenure of George Bancroft as Secretary of the Navy. The Naval Academy is ...

Annapolis Annapolis ( ) is the capital city of the U.S. state of Maryland and the county seat of, and only incorporated city in, Anne Arundel County. Situated on the Chesapeake Bay at the mouth of the Severn River, south of Baltimore and about east ...

. He graduated with distinction from Annapolis in 1964 and was a finalist in the

Rhodes Scholarship The Rhodes Scholarship is an international postgraduate award for students to study at the University of Oxford, in the United Kingdom. Established in 1902, it is the oldest graduate scholarship in the world. It is considered among the world' ...

competition. After graduating from Annapolis, Dalton served in the Navy from 1964 to 1969. During that time he received naval nuclear power training and served aboard the

submarine A submarine (or sub) is a watercraft capable of independent operation underwater. It differs from a submersible, which has more limited underwater capability. The term is also sometimes used historically or colloquially to refer to remotely op ...

s USS ''Blueback'' (SS-581) as the Supply and Commissary Officer and USS ''John C. Calhoun'' (SSBN-630) as the Main Propulsion Assistant, Communications Officer and Weapons Officer. He attained the

rank Rank is the relative position, value, worth, complexity, power, importance, authority, level, etc. of a person or object within a ranking, such as: Level or position in a hierarchical organization * Academic rank * Diplomatic rank * Hierarchy * ...

lieutenant A lieutenant ( , ; abbreviated Lt., Lt, LT, Lieut and similar) is a commissioned officer rank in the armed forces of many nations. The meaning of lieutenant differs in different militaries (see comparative military ranks), but it is often ...

while on active duty and was promoted to

Lieutenant Commander Lieutenant commander (also hyphenated lieutenant-commander and abbreviated Lt Cdr, LtCdr. or LCDR) is a commissioned officer rank in many navies. The rank is superior to a lieutenant and subordinate to a commander. The corresponding ran ...

while in the U.S. Naval Reserve.

Business career

After leaving the Navy, Dalton ran the

San Antonio, Texas ("Cradle of Freedom") , image_map = , mapsize = 220px , map_caption = Interactive map of San Antonio , subdivision_type = Country , subdivision_name = United States , subdivision_type1= State , subdivision_name1 = Texas , subdivision_ ...

office of the

Little Rock, Arkansas ( The "Little Rock") , government_type = Council-manager , leader_title = Mayor , leader_name = Frank Scott Jr. , leader_party = D , leader_title2 = Council , leader_name2 ...

-based

Stephens Inc. Stephens Inc. is a privately held, independent financial services firm headquartered in Little Rock, Arkansas. As one of the largest privately owned investment banks in the United States, Stephens has 28 offices worldwide and employs more than 1, ...

investment banking Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with ...

firm. Prior to his employment at Stephens Inc., he was Managing Director of Best Associates and Mason Best Company, merchant banking firms headquartered in

Houston Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 ...

and

Dallas 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 ...

respectively. In 1971, Dalton received 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 accounti ...

degree from the

Wharton School of the University of Pennsylvania The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in ...

. From 1984 to 1988, Dalton served as chairman and chief executive officer of Freedom Capital Corporation in San Antonio, and President of the Sequin Savings Association. Prior to this position, he was President of the Real Estate Division of the Gill Companies of San Antonio. President Carter nominated Dalton to the

Federal Home Loan Bank Board The Federal Home Loan Bank Board (FHLBB) was a board created in 1932 that governed the Federal Home Loan Banks (FHLB or FHLBanks) also created by the act, the Federal Savings and Loan Insurance Corporation (FSLIC) and nationally-chartered thrifts ...

in December 1979, where he served as a member and chairman until July 1981. Dalton was president of the

Government National Mortgage Association The Government National Mortgage Association (GNMA), or Ginnie Mae, is a government-owned corporation of the United States Federal Government within the Department of Housing and Urban Development (HUD). It was founded in 1968 and works to expa ...

of the

U.S. Department of Housing and Urban Development The United States Department of Housing and Urban Development (HUD) is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. It is headed by the Secretary of Housing and Ur ...

before being appointed to the Bank Board. He began his public service career after serving with the investment banking firm of Goldman, Sachs & Company in Dallas, Texas. Since January 2005, Dalton has been President of the Housing Policy Council at The Financial Services Roundtable.

Notes

References

*''The Banking, Navy service and Education portions of this article are based on

public domain The public domain (PD) consists of all the creative work to which no exclusive intellectual property rights apply. Those rights may have expired, been forfeited, expressly waived, or may be inapplicable. Because those rights have expired ...

text from th
US Navy
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External links

* {{DEFAULTSORT:Dalton, John Howard 1941 births American investment bankers Living people United States Secretaries of the Navy Louisiana State University alumni C. E. Byrd High School alumni Clinton administration personnel United States Naval Academy alumni United States Navy officers Wharton School of the University of Pennsylvania alumni