The American Australian Association is deeply saddened by the passing of Frederick B. Whittemore, an Advisory Director of Morgan Stanley and great friend of the Association. We send our condolences to his family and loved ones.
Whittemore joined Morgan Stanley in 1958, became a partner in 1967 and was elected Managing Director in 1970.
During more than fifty years at the Firm, Whittemore witnessed firsthand the dramatic growth of Morgan Stanley. Between 1966 and 1978, a golden era in corporate finance for the Firm, Whittemore served as head of syndicate and was responsible for organizing and pricing all public offerings. He helped make Morgan Stanley the number one syndicate manager in 1975, issuing $6 billion in public offerings.
The syndicate manager role gave him “pervasive power on Wall Street,” according to The House of Morgan, which was written by Ron Chernow. “Bright, sardonic and voluble, an avid collector of Pierpont Morgan memorabilia, he was called the Godfather or Father Fred.”
Whittemore took on added responsibilities soon after the Firm launched an M&A department in 1972, then headed our mutual fund business. Throughout his career, he took an active role in the growth and modernization of Morgan Stanley, as the Firm adapted to meet the needs of clients. Said Whittemore, “You had to grow your firm in order to provide the kind of services that companies needed.”
Of Morgan Stanley’s decision to go public in 1986, House of Morgan quotes Whittemore as saying, “We are taking advantage of a 3-to-5 year window, before the banks become full-fledged competitors, to become as large and powerful as quickly as we can.”
Whittemore retired from the Firm in 1988 and became an Advisory Director in January, 1989.
Whittemore was born in Pembroke, N.H. on November 12, 1930. He graduated with an A.B. from Dartmouth 1953 and an M.B.A from the Tuck School of Business in 1954, before serving three years in the U.S. Navy.
Whittemore served as Governor of the American Stock Exchange from 1977 to 1984 and was Vice Chairman from 1982 to 1984. He was also president of the Bond Club of New York in 1981 and served on many charity boards.