MEMORIAL RESOLUTION FOR HARRISON I. STEANS
WHEREAS, it is with great sadness that members of this Chamber learned of the death of Harrison I. Steans on February 26, 2019, at the age of eighty-three; and
WHEREAS, the Chicago City Council has been informed of this passing by the Honorable Michael Scott Jr., Alderman of the 24th Ward; and
WHEREAS, Harrison was born in Chicago on July 3, 1935, and spent his childhood in Lake Bluff and Springfield, Illinois. His early years were marked by the energy, intellect, and achievement that would come to characterize his entire life. In high school, he was state Latin champion. Harrison also partnered with his father in regional bridge tournaments, winning despite being the youngest to compete; and
WHEREAS, Harrison graduated cum laude from Princeton University in 1957 with a B.A. in economics, having attended on an NROTC scholarship. Harrison married Lois M. Morrison, and joined the Navy within weeks of graduating. Harrison served three years for three years and was stationed at Pearl Harbor. He resigned his commission as a Lieutenant; and
WHEREAS, Harrison's first job was working at IBM, where he became an assistant to the legendary Tom Watson, Chairman and CEO. After leaving IBM, he went on to form llinois' first single-bank holding company, the Hyde Park Bank & Trust. During his tenure as Chairman, the organization grew from a single, forty-million dollar bank, to a six-bank holding company with assets exceeding 1.8 billion dollars; and
WHEREAS, in 1987, the Hyde Park Bank and Trust was sold to NBD Corporation, now part ofthe J.P. Morgan Chase organization. It was the first time in the history of this country that a bank sold for more than three times its tangible book value; and
WHEREAS, from 1973 to 1978, Harrison also served as Chairman of LaSalle National Bank, where he handled the bank's sale to ABN; and
WHEREAS, in 1994, Harrison, along with his daughter Jennifer, formed Financial Investments Corporation (FIC), serving ...
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