Credited with handling 1,000 deals with a total value of some $250bn during his working lifetime, Wasserstein left Dresdner soon after the takeover and joined Lazard, where he was, at the time of his death, chairman and chief executive officer. • Bruce Jay Wasserstein, banker, born 25 December 1947; died 14 October 2009, Wall Street investment banker nicknamed 'Bid 'em up Bruce', Wasserstein was advising the US food group Kraft on a hostile approach to acquire Cadbury Photograph: Rebel Images / Rex Features. He made a difference to many things and to many people. Beloved husband of Angela Chao. Angela Chao's siblings: Angela Chao's sister is Elaine Chao Angela Chao's sister was Jeanette C. Chao Angela Chao's sister is May Chao Angela Chao's sister is Christine J Chao Angela Chao's sister is Grace Chao. Post was not sent - check your email addresses! At the time of his death, he was advising Kraft, the US-based food conglomerate, on a hostile approach to acquire Cadbury. WASSERSTEIN--Bruce, on October 14, 2009. While I was waiting for our table to be set, I ran into Wasserstein at the bar.He was waiting for his table with Chao. Mr. Wasserstein is survived by his wife, Angela Chao, an executive at her family’s shipping company and the sister of Elaine Chao, the former labor secretary, and seven children. They wed when Wasserstein was just 20. With sympathies and blessings of comfort to his family. With deepest sympathy to all of you at this very sad time. Wasserstein was born in Brooklyn, New York. One morning in 1988, they both quit to set up their own investment banking outfit, Wasserstein Perella. He will be missed and the great stories will always be with us. Loving father of Pamela, Ben, Scoop, Jack, Dash, Lucy Jane and … He retained the string of final authority, but rarely pulled it.". Senator Mitch McConnell. Wasserstein is survived by his fourth wife, the shipping company executive Angela Chao and seven children. • Bruce Jay Wasserstein, banker, born … Angela Chao, (married 2009, up until Wasserstein's death). Wasserstein had a lifelong interest in journalism and owned a clutch of media titles, including New York magazine and various law journals. Lazard CEO Bruce Wasserstein has died, a blow to the investment bank. How do I know? After less than five years, Perella left to join another investment banking giant, Morgan Stanley, but Wasserstein continued to drive his advisory business until, in 2000, he sold it to Dresdner Bank for nearly $1.5bn. In the following hours and days, a score of other First Boston executives followed them across the street. Friendly, funny and always interested. Former colleagues say the quality that marked Wasserstein out was a determined consistency. Wasserstein, 61, was one of the pre-eminent deal makers of his time. Lots of stories today in the New York papers about Bruce Wasserstein, the billionaire financier and publisher of New York magazine. He lost weight, began buying art and became more visible on the New York social circuit. The need to address this challenge – of how to hold and motivate the "rainmakers", the key people – gave birth to what is now known pejoratively as the bonus culture. WASSERSTEIN--Bruce, on October 14, 2009. The banker Bruce Wasserstein, who has died unexpectedly aged 61, cast a long shadow in the financial services industry. At 19, Wasserstein graduated from the University of Michigan and went on to Harvard. Fourth wife: Angela Chao and Bruce Wasserstein pictured in 2009. A memorial service will be held next month at a place and time to be announced. I was going to write about. Direct to the point of bluntness, he could be seen around the office with his tie askew and his shirt-tails hanging out. New York Story: Dead Billionaire Bruce Wasserstein Really Got Around, Emmys by the Number: HBO Scores Twice as Many Noms as Any Broadcast Network, Randy Travis's Brother Arrested for Running Meth Lab in Home, Coming to Amazon: Eddie Murphy’s “Coming to America” Sequel Moving from Paramount to Amazon Prime for a Reported $125 Mil, Kanye West Still Running for President, Releases First Campaign Video Invoking Prayer, God, and Family, The Hollywood Reporter Fires Dean of Movie Critics, Todd McCarthy, Cuts 30% of Staff, Owner Todd Boehly Waves White Flag, The Amazing Life She Lived: Aretha Franklin Deserved Better from the New York Times Magazine, So Here It Is.
This related to his seeming ability to persuade buyers to pay more than they intended for any assets his clients happened to be selling. Bruce Wasserstein's Kids Spar Over Use of ... his future fourth wife Angela Chao, Wasserstein bumped into McCarthy and their daughter on a … His negotiating methods earned him the nickname – which he hated – of "Bid 'em up Bruce". He also spent some time working for the consumer champion Ralph Nader. Wasserstein is survived by his fourth wife, the shipping company executive Angela Chao and seven children. He was not a micro-manager. Plant a tree to honor the memory of your loved one. You can vote twice. The problem was, he wasn’t divorced or separated. But the relative expressed surprise and I let it go. Wasserstein's first marriage, to wife Laura, ended in 1974. Yet in 2002, he was recruited by the then chairman, Michel David-Weill, who realised Lazard needed to change in order to compete successfully with the "bulge bracket" houses , the most profitable of the investment banks.

He died later that year Past relationship: Christine Parrott had three children with Bruce Wasserstein before they divorced. When Wendy died in 2006, Bruce adopted her six-year-old daughter. He is the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus. His style was particularly at odds with the patrician, old-money elite who ruled Lazard Frères. He met his first wife, Lynne Killin, while he was at Michigan, where he had contrived the title of executive editor of the Michigan Daily. We each brought a friend. It was a dark blustery day. Virtually its only assets were its reputation and its staff. ... Angela Chao, in … He neither looked nor sounded like an investment banker, appearing more like a shambling academic, in contrast to the immaculate dress and manners of most of his Ivy League peers. She is the sister of Elaine Chao who is married to U.S.

His reputation was sealed in 1989 when he advised the venture capitalist firm Kohlberg Kravis Roberts (KKR) on its acquisition of RJR Nabisco, a legendary deal documented in the book Barbarians at the Gate: The Fall of RJR Nabisco, which was subsequently made into a film.
It turns out he had an illegitimate child from another relationship they, after his marriage ended in 2008. He wrote the Intelligencer column for NY Magazine in the mid 90s, reporting on the OJ Simpson trial, as well as for the real Parade magazine (when it was owned by Conde Nast), and has written for the New York Observer, Details, Vogue, Spin, the New York Times, NY Post, Washington Post, and NY Daily News among many publications. Auburn Street, Cambridge, MA 02138, 617-495-0818. While other students campaigned against the Vietnam war, Wasserstein was in Europe studying British merger policy. He died suddenly in 2009 at age 61 after being hospitalized for heart arrhythmia. First Boston's corporate finance business had been dealt a blow from which the bank would find it hard to recover. With his longtime friend and sometime business colleague Joseph Perella, he demonstrated that the most valuable assets of an investment bank are the people who come up with the ideas and have the talent and tenacity to see them through. They had three children and divorced in 1992. I saw them, they didn’t see me.

Share BRUCE's life story with friends and family. Then he married another woman, Angela Chao, in 2009 right before he died. On November 23, 2006, after the whole Michael Jackson trial was over and things calmed down, one of the principals came to New York and we had dinner at Peter Luger’s restaurant in Brooklyn. Contributions in his memory may be made to the Morris Wasserstein Fund for Creativity at Stuyvesant High School, c/o The Campaign for Stuyvesant, P.O. Thrice divorced, he is survived by his fourth wife, Angela Chao, the sister of former Bush Labor Secretary Elaine Chao, and five children. Chao married investment banker Bruce Wasserstein in 2009; he died later that year. They were walking arm in arm, wind howling against their backs, on University Place. His methods and demeanour were out of step with conventional Wall Street. He would give people plenty of responsibility and room in which to operate.

He graduated from Harvard's schools of law and business; he later gave $25m to the law school. I did speak with a member of Wasserstein’s family to see if a change had occurred in his marriage.

Wasserstein had three children from his second marriage. The funny thing is, I saw him on a date with Chao in 2006, at least, while he was still married to wife number 3 and before he fathered that other child with Erin McCarthy. He also went on a hiring spree, luring in past colleagues with eye-popping salary packages. That kid, by the way, is getting $75 million from Wasserstein’s estate. With Wasserstein's fortunes very much on the rise, they moved into a large apartment on Fifth Avenue. He was an incredible life force and a source of love, laughter, and inspiration. He will be profoundly missed. The single-minded Wasserstein soon won his bitter power struggle with David-Weill, floating the company into a bull market in 2005.


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