The Ambassador from Wall Street: The Story of Thomas W. Lamont, J.P. Morgan's Chief Executive

by Edward P. Lamont

This is the first biography of the man who, as J.P. Morgan's CEO and the leading banker of his generation, helped establish U.S. economic policy through his broad-reaching financial, political, and social connections. Edward Lamont offers fresh insight into the turbulent period between the two world wars through this fascinating account of the life of the most influential banker of his era.

Genres: Business, Biography

564 pages, Hardcover

First published November 24, 1993

Reviews

[David Coody · Rating 5 out of 5]

Maybe the most charming figure I’ve ever read. Mastering men and his pen, he had an endearing effect on almost everyone. It was fascinating to see the impact he had on domestic and foreign affairs during such a consequential era for Western Civilization.

[Alan Barratt · Rating 4 out of 5]

Documentary of J.P. Morgan’s Chief Executive - Thomas W. Lamont

[Frank Kelly · Rating 4 out of 5]

A well written, fast moving biography of one of the great men of Wall Street in the early half of the 1900's. Thomas W. Lamont -- better known to friends and colleagues sa "TWL" -- accomplished a tremendous amount in his storied career. Written by his grandson, Edward M. Lamont -- himself a successful banker -- the book lucidly covers his long, successful life from his birth as the son of a Methodist minister in upstate New York. He goes on to Harvard and graduates to serving as a cub reporter in New York to becoming a successful sales agent for household products. And then one day, his neighbors on a train travelling from New York City back to the suberbs of New Jersey said "there's the man." Those neighbors happened to be the new founders of Bankers Trust and they made him the new Secretary-Treasurer of the bank. From there, he went to First National Bank and, finally, he was plucked from First National by J.P. Morgan himself and made a partner in the most famous and powerful financial firms in recent history. Lamont would go on to become CEO of J.P. Morgan.

But it his work on behalf of the nation in between all these personal successes that is most interesting. Lamont worked tirelessly at Versailles following the end of World War I to figure out how reparations would be assigned (and, to his credit, Lamont was one of the first to argue for pulling back from the heavier reparations that saddled both Britain and Germany -- debts that would help destory the British Empire and give rise to the Nazi nightmare).

There are too few biographries written about some of the greater men of the last century. Lamont endured and battled scandals and the accusing finger of Washington and Congress (much like investment banks are doing today). He pioneered press relations for J.P. Morgan -- the sub-chapter on his press work is a good lesson for all of us in the business today. A fun read and one I recommend for those interested in the men and women who made Wall Street what it is today.