The financial services industry is quite intricate. Leading a firm through a successful era is a difficult balancing act, and has been many executives’ waterloo. Those who have successfully played their roles often leave behind a legacy, which at most, is difficult to replicate.
CCMP Capital’s former president and Chief Executive Officer Stephen P. Murray, ranks among notable corporate executives who were immensely successful. His early and shocking death was a big blow to the entire industry. Death robbed the industry of an illustrious executive, who always strived to create a lasting impression on others.
Trailing Stephen’s Career
From a young age, Stephen always harbored the dream of pursuing a career in finance. This explains why he decided to study economics and finance at the prestigious Boston College. He graduated top of his class in 1984.
Stephen Murray earned an MBA from Columbia business school five years later. By then, he had already started working at Manufacturers Hanover Corporation, whom he joined in 1984 as a financial intern. His bosses were impressed by his unique problem solving ability, and his knack to carry out roles that were shunned by his colleagues.
When Manufacturers Hanover Corporation’s finance and private equity divisions joined forces to form MH Equity Corporation, Stephen found himself joining the new firm. He would go on to follow this sequence for more than 15 years. Learn more about Stephen Murray CCMP Capital: http://www.nytimes.com/2015/03/01/realestate/west-village-townhouse-for-17-million.html?_r=0
Manufacturers Hanover was acquired by Chemical Bank in 1991, a deal which led to the formation of Chemical Venture Partners. This firm later joined forces with Chase Manhattan Corporation, leading to the formation of Chase Capital Partners. All this time, Murray was steadily scaling the corporate ladder. He was actually an instrumental figure in the success of these mergers and acquisitions.
In 2005, Stephen was appointed head of buyout business at JP Morgan Partners. One year later, he led a splinter, which gave birth to CCMP Capital. His ability to foretell market dynamics made him a successful executive.
He laid down strategies that cushioned the company against upheavals in the money markets. His leadership saw the firm rise to become a leading financial services provider. After nearly a decade at the helm, he vacated the position to allow others to drive the company forward.
Working as CCMP’s head honcho gave Mr. Murray an opportunity to serve as a board member at several firms. These include Pinnacle Foods, AMC Entertainment, LHP Hospital Group, Crestcom International, and Strongwood Insurance Holdings. Stephen was also passionate about charity.