Donald Marron
Encyclopedia
Donald B. Marron is a financier, private equity
investor and entrepreneur, notable as the chairman and chief executive officer of brokerage firm Paine Webber
from 1980 through the sale of the company in 2000, as well as the founder of private equity firm Lightyear Capital
and of Data Resources Inc.
and in 1967 was named president of the company. In 1977, Mitchell Hutchins was acquired by Paine Webber
.
Aside from his primary role at Mitchell Hutchins, in 1969 Marron founded Data Resources Inc.
together with Harvard University
notable economist Otto Eckstein
. DRI became the largest non-governmental source of economic data in the world and was sold to McGraw-Hill
in 1979.
In 1980, Marron was named Paine Webber’s Chief Executive Officer, and in 1981, he was named chairman of the board of Paine Webber, roles he would hold for the next two decades. In 2000, as CEO, Marron engineered the sale of Paine Webber
to UBS AG
.
, a private equity firm focused on investments in financial services
companies. The firm has raised approximately $2 billion since inception across its two funds. In May 2002, Lightyear closed on its first fund, The Lightyear Fund, with $750 million of investor commitments, approximately $500 million of which came from UBS AG
. In 2006, the firm completed fundraising for its second private equity fund, with $850 million of commitments from over 40 investors.
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
investor and entrepreneur, notable as the chairman and chief executive officer of brokerage firm Paine Webber
Paine Webber
Paine Webber and Company was an American stock brokerage and asset management firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48...
from 1980 through the sale of the company in 2000, as well as the founder of private equity firm Lightyear Capital
Lightyear Capital
Lightyear Capital is a private equity firm focused on leveraged buyout and growth capital investments in financial services companies.The firm, which is based in New York City, was founded in 2002 with the backing of UBS AG by Donald Marron. Marron is best known for building up PaineWebber over a...
and of Data Resources Inc.
Data Resources Inc.
Data Resources Inc or DRI was co-founded in 1969 by Donald Marron and Otto Eckstein.Marron is best known as the former CEO of PaineWebber and founder of Lightyear Capital...
Career
In 1959, Marron founded D.B. Marron & Company. In 1965, Marron sold his company to Mitchell HutchinsMitchell Hutchins
Mitchell, Hutchins & Co. was a leading equity research boutique in the U.S. until its acquisition by Paine Webber in 1977. In 1959, Donald Marron founded D.B. Marron & Company. In 1965, Marron sold his company to Mitchell Hutchins and in 1967 was named president of the company...
and in 1967 was named president of the company. In 1977, Mitchell Hutchins was acquired by Paine Webber
Paine Webber
Paine Webber and Company was an American stock brokerage and asset management firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48...
.
Aside from his primary role at Mitchell Hutchins, in 1969 Marron founded Data Resources Inc.
Data Resources Inc.
Data Resources Inc or DRI was co-founded in 1969 by Donald Marron and Otto Eckstein.Marron is best known as the former CEO of PaineWebber and founder of Lightyear Capital...
together with Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
notable economist Otto Eckstein
Otto Eckstein
Otto Eckstein was a German-born economist at Harvard University, member of the President's Council of Economic Advisers from 1964 to 1968), and co-founder of Data Resources Inc. He received an A.B. from Princeton University and a Ph.D...
. DRI became the largest non-governmental source of economic data in the world and was sold to McGraw-Hill
McGraw-Hill
The McGraw-Hill Companies, Inc., is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, and business services...
in 1979.
In 1980, Marron was named Paine Webber’s Chief Executive Officer, and in 1981, he was named chairman of the board of Paine Webber, roles he would hold for the next two decades. In 2000, as CEO, Marron engineered the sale of Paine Webber
Paine Webber
Paine Webber and Company was an American stock brokerage and asset management firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48...
to UBS AG
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
.
Lightyear Capital
After two years at the bank, in 2002, Marron left UBS to found Lightyear CapitalLightyear Capital
Lightyear Capital is a private equity firm focused on leveraged buyout and growth capital investments in financial services companies.The firm, which is based in New York City, was founded in 2002 with the backing of UBS AG by Donald Marron. Marron is best known for building up PaineWebber over a...
, a private equity firm focused on investments in financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
companies. The firm has raised approximately $2 billion since inception across its two funds. In May 2002, Lightyear closed on its first fund, The Lightyear Fund, with $750 million of investor commitments, approximately $500 million of which came from UBS AG
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
. In 2006, the firm completed fundraising for its second private equity fund, with $850 million of commitments from over 40 investors.
Board memberships and other affiliations
- Paine WebberPaine WebberPaine Webber and Company was an American stock brokerage and asset management firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48...
(as Chairman, 1981-2001) - Fannie Mae - Member of the Board (2001-06)
- New York Stock ExchangeNew York Stock ExchangeThe New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
- Member of the Board of (1974-81) - Museum of Modern ArtMuseum of Modern ArtThe Museum of Modern Art is an art museum in Midtown Manhattan in New York City, on 53rd Street, between Fifth and Sixth Avenues. It has been important in developing and collecting modernist art, and is often identified as the most influential museum of modern art in the world...
- President Emeritus, Trustee (former), Vice Chairman (former) of the Board of Directors - President's Committee on the Arts and HumanitiesPresident's Committee on the Arts and HumanitiesThe President's Committee on the Arts and the Humanities was established in Washington, DC in 1982 by an Executive Order from President Ronald Reagan and works with each Administration to incorporate the arts and the humanities into White House objectives....
- Member
External links
- Lightyear Capital (company website)