Pierre Jay

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Pierre Jay
Pierre Jay.jpg
BornMay 4, 1870
DiedNovember 24, 1949(1949-11-24) (aged 79)
Alma materYale University
OccupationChair of the Federal Reserve Bank of New York

Pierre Jay (May 4, 1870 – November 24, 1949) was the first chairman of the Federal Reserve Bank of New York.

Jay grew up in Rye, New York at the Jay Estate ancestral home of his great, great grandfather, American Founding Father, John Jay, he graduated from Yale University in 1892, and was a member of Skull and Bones, one of the best known of the secret societies based at Yale University. In 1908, as Massachusetts banking commissioner, he, along with Bostonian business man and philanthropist Edward Filene, helped organize public hearings on creating credit union legislation in Massachusetts, leading to the passage of the Massachusetts Credit Union Act in 1909; this legislation was the first to enable the formation of credit unions in the United States. Jay also became the first-ever chairman of the New York Federal Reserve in 1913 after its formation, he is one of the founders of Fiduciary Trust Company International, now a subsidiary of Franklin Templeton.

References[edit]

  • "Obituary Record of Graduates of the Undergraduate Schools Deceased During the Year 1949 - 1950" (PDF). Yale University.

External links[edit]