Ray Garrett Jr.
Ray Garrett Jr. | |
|---|---|
| Chairman of the U.S. Securities and Exchange Commission | |
| In office 1973–1975 | |
| Preceded by | G. Bradford Cook |
| Succeeded by | Roderick M. Hills |
| Personal details | |
| Born | August 11, 1920 |
| Died | February 3, 1980 (aged 59) Chicago, Illinois, U.S. |
| Spouse |
Virginia Hale (m. 1943) |
| Children | 3 |
| Education | Yale University (AB) Harvard Law School (LLB) |
| Occupation |
|
Ray Garrett Jr. (August 11, 1920 – February 3, 1980) was a member of the Gardner Carton & Douglas law firm in Chicago until his appointment as the chairman of the U.S. Securities and Exchange Commission (SEC) under President Richard Nixon in 1973, where he served for two years.
Early life
Ray Garrett Jr. was born on August 11, 1920,[1] to Ray Garrett, a lawyer.[2][3] He attended public schools in Glencoe and Evanston, Illinois. He graduated from Evanston Township High School.[1] He graduated from Yale University with an A.B. in 1941,[4] where he was a member of the glee club and Beta Theta Pi fraternity.[3][5] In 1949, he graduated from Harvard Law School with a LL.B.[4][2]
Garrett served in the U.S. Army during World War II as a captain in the artillery, where he saw action at the Battle of the Bulge. He was in the first American artillery battalion across the Rhine and earned a bronze star.[6][7] He served in the Army National Reserve and was associated with the U.S. Army's Office of the Deputy Chief of Staff for Logistics.[1]
Career
Following graduation, Garrett remained at Harvard Law School as a teaching fellow. He was assistant professor of law at New York University School of Law from 1950 to 1952. In 1952, he joined the Chicago law firm Gardner Carton & Douglas.[2]
On October 25, 1954, Garrett joined the U.S. Securities and Exchange Commission (SEC) in Washington, D.C. He was associate director of the division of corporate regulation until January 6, 1956. He then served as director of the division. In 1958, he rejoined Gardner, Carton & Douglas.[1][2][5] He was a visiting lecturer at Northwestern University School of Law.[2] He was appointed chairman of the SEC by President Richard Nixon in August 1973 to replace G. Bradford Cook following the Watergate scandal. He served in the role until October 1975.[2][5] He spearheaded the demise of fixed commissions on stock transactions, which met with mixed results.
Garrett was a member of the board of directors of the Chicago, Milwaukee, St. Paul and Pacific Railroad. He was on the board of the Chicago Title and Trust Company.[5] In 1965, he was chairman of the section of corporation banking and business law of the American Bar Association. He was chairman of the advisory committee for the corporate department financing department of the American Bar Foundation.[5] He participated in revising Parts VII through XI of the American Law Institute's Federal Securities Code which was published the year he died, and was a frequent contributor to journals in his field.
Personal life
Garrett married Virginia Hale, daughter of John T. Hale, of Rockdale, Texas, on July 27, 1943.[1][2][3] They had three daughters, Nancy, Susan and Anne.[2] He lived on Myrtle Street in Winnetka, Illinois.[2][5]
Garrett died on February 3, 1980, at Evanston Hospital in Chicago.[2]
Legacy
The Ray Garrett Jr. Corporate and Securities Institute at Northwestern University was established in memory of Garrett.[8]
References
- ^ a b c d e "Appointment of Ray Garrett, Jr., to the newly created position of Associate Executive Director" (PDF). SEC News Digest (Press release). Securities and Exchange Commission. September 24, 1957. Retrieved June 22, 2025.
- ^ a b c d e f g h i j "Rites Set for Ray Garrett". Chicago Tribune. 1980-02-05. p. 11. Retrieved 2025-06-19 – via Newspapers.com.
- ^ a b c "Garrett-Hale Nuptials Said". American-Statesman. 1943-08-01. p. 4. Retrieved 2025-06-19 – via Newspapers.com.
- ^ a b de Capriles, Miguel A.; Garrett Jr., Ray (March 1952). "Legality of Corporate Support to Education: A Survey of Current Developments". American Bar Association Journal. 38 (3): 211. JSTOR 25717961. Retrieved June 22, 2025.
- ^ a b c d e f Beckman, Aldo (1973-07-08). "Nixon Picks Garrett as SEC Chief". Chicago Tribune. p. 7. Retrieved 2025-06-19 – via Newspapers.com.
- ^ "Ray Garrett Jr., 59, Dies, Former SEC Chairman". Washington Post. February 4, 1980. Retrieved June 20, 2025.
He served as a captain in the Army's field artillery during World War II and earned the Bronze Star medal.
- ^ Belair Jr., Felix (July 16, 1973). "Garrett, to Head S.E.C., Adds a Will to Expertise". New York Times. Retrieved June 22, 2025.
He was in the European Theater for 18 months — nine of them in combat including the Battle of the Bulge — becoming a captain of field artillery.
- ^ "Information: About the Garrett Institute". Northwestern Pritzker School of Law. Retrieved June 22, 2025.
External links
- Garrett Institute, Northwestern University