The finance industry is a tough place to work. Few are ever qualified and those who can cut it find themselves struggling to compete. Someone who can not only make into a private equity firm but also eventually obtain a leadership role is truly an exceptional human being. Stephen Murray is a great example of someone who exemplifies just what that exception spirit is.
Over the course of his very long career, Charles Murray has sat on the board of companies such as Crestcom International and Strongwood Insurance Holdings. Nothing seemed to get in his way of success. He simply stood out from the pack. Joining J.P Morgan in 1989, Murray began by building the company into something even greater.
Stephen Murray innovated and pioneering his way through the industry. J.P Morgan typically operated by buying stakes in larger private equity firms. For example, when it purchased a minority position in the firm Amtrak In 2004, J.P Morgan managed to successfully bid for ownership of the public drug company Warner Chilcott, outbidding the likes of such giants TPG and Blackstone. Learn more about Stephen Murray CCMP: http://patch.com/connecticut/stamford/stephen-p-murray-52-financial-executive-stamford-resident-vice-chair-boston-college-board-trustees
Intimidated by the power move, TPG warned JPMorgan it would cut off ties to the firm, causing JPMorgan to retaliate by cutting CCMP (you can learn more about Stephen Murray CCMP: http://nypost.com/2015/03/13/ccmps-murray-dead-at-52/). When J.P. Morgan purchased Chase under Murray’s wisdom he made it one the world’s largest and most profitable private equity firms.
Eventually, the company did so well Stephen Murray was named CEO of Chase under its new name, J.P Morgan partners. When CCMP left J.P Morgan with Charles Murray as its CEO, it continued to raise billion dollar funds. The latest fund it produced was worth $3.6 billion.
The success followed the company with him at its lead. Unfortunately, Murray stepped down and has recently passed away. Regardless his legacy still stands as one of the most prolific and greatest in finance.