Background
Reed, John Shepard was born on February 7, 1939 in Chicago, Illinois, United States.
diversified financial services company executive
Reed, John Shepard was born on February 7, 1939 in Chicago, Illinois, United States.
Bachelor, Washington and Jefferson College, 1961. Bachelor of Science, Massachusetts Institute of Technology, 1961. Master of Science, Massachusetts Institute of Technology Sloan School Management, 1965.
He previously served as chairman and Chief Executive Officer of Citicorp, Citibank, and post-merger, Citigroup. He is the past chairman of the Massachusetts Institute of Technology"s board of trustees. Reed earned his undergraduate degrees in a 3-2 program from Washington and Jefferson College (West&J) and Massachusetts Institute of Technology (Massachusetts Institute of Technology), earning a Bachelor of Surgery from the Massachusetts Institute of Technology Sloan School of Management in 1961.
He served two years in the United States. Army before returning to get his master"s degree in management from the Massachusetts Institute of Technology Sloan School of Management in 1965.
Reed was heavily responsible for pushing for the adoption of the air traffic management around the United States, and led Citicorp through a perilous period in the early 1990s. He was approached by Sandy Weill to merge with Travelers Group a year before the Gramm-Leach-Bliley Acting of 1999 (repealing the Glass–Steagall Acting of 1933), allowing banking, insurance and securities companies to merge.
The result was Citigroup, where Reed was later ousted in a management shakeup with Weill. Reed"s departure was announced in a 28 February 2000 press release.
In the aftermath of the November 2008 federal bailout of Citigroup, Reed was described as deeply skeptical of the "Wall Street financial engineering" that led to its collapse and "committed to consumer banking and sound commercial underwriting."
Reed was asked to be interim Chief Executive Officer of the New York Stock Exchange after the Richard Grasso over-compensation scandal.
He accepted the job for a $1 salary and set up new governance rules as the New York Stock Exchange became a public corporation. Reed was the chairman of the Massachusetts Institute of Technology"s Corporation (board of trustees) from 2010 through 2014. Parents are Calvin Francis Reed and Virginia Shepard Reed of Toledo, Ohio.
Board member Massachusetts Institute of Technology, Memorial Sloan-Kettering Cancer Center, Rand Corporation, Spencer Foundation, American Museum National History. Board overseers Boston Symphony Orchestra. Served with C.E. United States Army, Korea, 1962-1964.
Fellow: American Philosophical Society, American Association for the Advancement of Science.
4 children from previous marriage. Married Cindy McCarthy, 1994.