H. Stephen Chase Explained

Office:President of Wells Fargo Bank
Term Start:1964
Term End:1966
Predecessor:Ransom M. Cook
Successor:Richard P. Cooley
Birth Name:Howard Stephen Chase
Birth Date:16 January 1903
Birth Place:San Jose, California
Death Place:Vienna, Austria
Alma Mater:Stanford University
Harvard University
Children:2

Howard Stephen Chase (January 16, 1903 – October 15, 1969) was an American financier who served as president of Wells Fargo from 1964-1966 (List of Wells Fargo presidents).

Early life

Chase was born in San Jose, California, in 1903, a son of Harold Chase and Kate (née Woody) Chase.

He attended Stanford University, graduating in 1925, followed by the Harvard Graduate School of Business Administration, where he graduated with a Master of Business Administration in 1927.[1]

Career

After graduating from Harvard, he began working at Wells Fargo in 1927. He was named manager of the Santa Rosa branch in 1937, was transferred to Sacramento in 1940 as vice president, appointed senior vice president in San Francisco in 1955 and executive vice president in 1960. In 1963, he was elected to the board of directors. From 1951 to 1958, he also served as a member of the California Highway Commission.

In 1964, Chase became president of Wells Fargo, succeeding Ransom M. Cook who retained the post of chief executive officer and became chairman of the board.[2] [3] He served as president of what was then the nation's eleventh largest commercial bank for two years until November 1966 when he was succeed as president by Richard P. Cooley (who later married his eldest daughter) and, in turn, succeeded sixty-seven year-old Cook as chairman of the board.[4]

Chase retired on May 31, 1968, after forty-one years with the bank. He was replaced as board chairman by Ernest C. Arbuckle, dean of the Stanford Graduate School of Business.[5] [6]

Personal life

On February 4, 1930, Chase was married to Mary Bonar (1906–1972), a daughter of Reuben Bonar and Lora Lee Bonar (born May 24, 1906).[7] [8] Together, they were the parents of two daughters:

Chase died of a heart attack while on vacation in Vienna, Austria, on October 15, 1969.[15] [16] [17] His widow died in San Francisco on December 29, 1972.[18] [19]

Notes and References

  1. Book: Alumni Directory and Ten-year Book . 1931 . . 167 . 9 March 2021 . en.
  2. News: Wells Fargo Bank Fills Post . 4 March 2021 . . 9 October 1964.
  3. News: Wells Fargo Elects Officer . 9 March 2021 . . 9 September 1965.
  4. News: Wells Fargo Bank Fills Top Post . 4 March 2021 . . 11 November 1966.
  5. News: Stanford Dean Named By Wells Fargo Bank . 9 March 2021 . . 13 October 1967.
  6. News: Davies . Lawrence E. . Stanford Dean New Chairman of California Bank . 9 March 2021 . . 14 June 1968.
  7. Book: Brown . Dorothy Elizabeth Rine . Bonar Genealogy: Bonar, Boner, Bonnar, Bonner, Bonnor, Bouner, Bowner . 1969 . 275 . 9 March 2021 . en.
  8. The Bankers' Who's Who . 1964 . 141 . 9 March 2021 . Indian Business Publications. . en.
  9. News: James Ludwig Obituary . 9 March 2021 . . September 13, 2020 . en.
  10. News: JUDITH CHASE BRIDE OF JAMES J. LUDWIG . 9 March 2021 . . 17 May 1954.
  11. News: Banker Cooley Awaits Decree . . 12 February 1971 . 19.
  12. News: Richard Cooley Obituary . 9 March 2021 . . October 30, 2016 . en.
  13. News: Bombshell news . 9 March 2021 . . 31 July 1978 . 15.
  14. News: Stephanie MacColl Obituary . 9 March 2021 . . March 9, 2017 . en.
  15. Web site: Wells Fargo & Company 1969 Annual Report .
  16. News: H. Stephen Chase, Ex-Head Of Wells Fargo' Bank, 66 . 9 March 2021 . . 17 October 1969.
  17. News: H.S. Chase Succumbs in Vienna . 9 March 2021 . . 16 October 1969 . 49.
  18. News: CHASE, Mary Bonar . 9 March 2021 . . 1 January 1973 . 51.
  19. News: Mary Bonar Chase Services Are Set For SF Wednesday . 9 March 2021 . . 31 December 1972 . 6.