Herbert Allison Jr., a former president at Merrill Lynch who also played a critical role in the U.S. government's bank rescue program, reportedly died at age 69 Sunday.
Bloomberg News reported Allison died at his home in Westport, Conn., citing an interview with his son Andrew.
Herbert Monroe Allison Jr. was born on Aug. 2, 1943, in Pittsburgh. His father, Herbert Sr., retired in 1952 as an agent for the Federal Bureau of Investigation. His mother was the former Mary Boardman.
At Yale University, Allison suffered debilitating anxiety attacks before graduating in 1965 with a bachelor's degree in philosophy.
Allison had a storied career in the finance world. President Barack Obama nominated Allison for Assistant Secretary for Financial Stability in April 2009 and he was confirmed in June of that year. In that role, he oversaw the Troubled Asset Relief Program, which was one of the primary vehicles for bailing out the U.S. banking sector.
Earlier, in September 2008, he was appointed chief executive at Fannie Mae during what was one of the darkest moments of the worst financial crisis since the Great Depression. He previously served as Chief Executive Officer of TIAA-CREF from 2002 to 2008.
Allison kicked off his professional career as an associate in the investment banking division at Merrill Lynch, now a unit of Bank of America (BAC), where he served in a slew of roles, including: Treasurer, Director of Human Resources, Chief Financial Officer, and finally President and Chief Operating Officer.
Allison earned a B.A. in philosophy from Yale University and then an M.B.A. from Stanford University. He also served four year in the U.S. Navy, including a year in Vietnam.
Besides his son Andrew, Mr. Allison is survived by his wife, the former Simin Nazemi; another son, John, and a younger brother, George.
Mr. Allison met his wife in Tehran, where he was working for Merrill at the time and she was a secretary to a bank managing director. Before the two could marry, however, her father insisted that Mr. Allison first learn some Persian, his son Andrew said. So Mr. Allison did, building a vocabulary of 1,000 Persian words over two weeks by reading them from flashcards.
Bloomberg News reported Allison died at his home in Westport, Conn., citing an interview with his son Andrew.
Herbert Monroe Allison Jr. was born on Aug. 2, 1943, in Pittsburgh. His father, Herbert Sr., retired in 1952 as an agent for the Federal Bureau of Investigation. His mother was the former Mary Boardman.
At Yale University, Allison suffered debilitating anxiety attacks before graduating in 1965 with a bachelor's degree in philosophy.
Allison had a storied career in the finance world. President Barack Obama nominated Allison for Assistant Secretary for Financial Stability in April 2009 and he was confirmed in June of that year. In that role, he oversaw the Troubled Asset Relief Program, which was one of the primary vehicles for bailing out the U.S. banking sector.
Earlier, in September 2008, he was appointed chief executive at Fannie Mae during what was one of the darkest moments of the worst financial crisis since the Great Depression. He previously served as Chief Executive Officer of TIAA-CREF from 2002 to 2008.
Allison kicked off his professional career as an associate in the investment banking division at Merrill Lynch, now a unit of Bank of America (BAC), where he served in a slew of roles, including: Treasurer, Director of Human Resources, Chief Financial Officer, and finally President and Chief Operating Officer.
Allison earned a B.A. in philosophy from Yale University and then an M.B.A. from Stanford University. He also served four year in the U.S. Navy, including a year in Vietnam.
Besides his son Andrew, Mr. Allison is survived by his wife, the former Simin Nazemi; another son, John, and a younger brother, George.
Mr. Allison met his wife in Tehran, where he was working for Merrill at the time and she was a secretary to a bank managing director. Before the two could marry, however, her father insisted that Mr. Allison first learn some Persian, his son Andrew said. So Mr. Allison did, building a vocabulary of 1,000 Persian words over two weeks by reading them from flashcards.
Herbert Allison Jr., a former president at Merrill Lynch who also played a critical role in the U.S. government's bank rescue program, reportedly died at age 69 Sunday.
Bloomberg News reported Allison died at his home in Westport, Conn., citing an interview with his son Andrew.
Herbert Monroe Allison Jr. was born on Aug. 2, 1943, in Pittsburgh. His father, Herbert Sr., retired in 1952 as an agent for the Federal Bureau of Investigation. His mother was the former Mary Boardman.
At Yale University, Allison suffered debilitating anxiety attacks before graduating in 1965 with a bachelor's degree in philosophy.
Allison had a storied career in the finance world. President Barack Obama nominated Allison for Assistant Secretary for Financial Stability in April 2009 and he was confirmed in June of that year. In that role, he oversaw the Troubled Asset Relief Program, which was one of the primary vehicles for bailing out the U.S. banking sector.
Earlier, in September 2008, he was appointed chief executive at Fannie Mae during what was one of the darkest moments of the worst financial crisis since the Great Depression. He previously served as Chief Executive Officer of TIAA-CREF from 2002 to 2008.
Allison kicked off his professional career as an associate in the investment banking division at Merrill Lynch, now a unit of Bank of America (BAC), where he served in a slew of roles, including: Treasurer, Director of Human Resources, Chief Financial Officer, and finally President and Chief Operating Officer.
Allison earned a B.A. in philosophy from Yale University and then an M.B.A. from Stanford University. He also served four year in the U.S. Navy, including a year in Vietnam.
Besides his son Andrew, Mr. Allison is survived by his wife, the former Simin Nazemi; another son, John, and a younger brother, George.
Mr. Allison met his wife in Tehran, where he was working for Merrill at the time and she was a secretary to a bank managing director. Before the two could marry, however, her father insisted that Mr. Allison first learn some Persian, his son Andrew said. So Mr. Allison did, building a vocabulary of 1,000 Persian words over two weeks by reading them from flashcards.
Bloomberg News reported Allison died at his home in Westport, Conn., citing an interview with his son Andrew.
Herbert Monroe Allison Jr. was born on Aug. 2, 1943, in Pittsburgh. His father, Herbert Sr., retired in 1952 as an agent for the Federal Bureau of Investigation. His mother was the former Mary Boardman.
At Yale University, Allison suffered debilitating anxiety attacks before graduating in 1965 with a bachelor's degree in philosophy.
Allison had a storied career in the finance world. President Barack Obama nominated Allison for Assistant Secretary for Financial Stability in April 2009 and he was confirmed in June of that year. In that role, he oversaw the Troubled Asset Relief Program, which was one of the primary vehicles for bailing out the U.S. banking sector.
Earlier, in September 2008, he was appointed chief executive at Fannie Mae during what was one of the darkest moments of the worst financial crisis since the Great Depression. He previously served as Chief Executive Officer of TIAA-CREF from 2002 to 2008.
Allison kicked off his professional career as an associate in the investment banking division at Merrill Lynch, now a unit of Bank of America (BAC), where he served in a slew of roles, including: Treasurer, Director of Human Resources, Chief Financial Officer, and finally President and Chief Operating Officer.
Allison earned a B.A. in philosophy from Yale University and then an M.B.A. from Stanford University. He also served four year in the U.S. Navy, including a year in Vietnam.
Besides his son Andrew, Mr. Allison is survived by his wife, the former Simin Nazemi; another son, John, and a younger brother, George.
Mr. Allison met his wife in Tehran, where he was working for Merrill at the time and she was a secretary to a bank managing director. Before the two could marry, however, her father insisted that Mr. Allison first learn some Persian, his son Andrew said. So Mr. Allison did, building a vocabulary of 1,000 Persian words over two weeks by reading them from flashcards.
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