Wall Street Legend Dies


Alger 'Duke' Chapman Jr., who led Shearson Hammill & Co. through its merger into Sanford Weill’s Hayden Stone Inc. in 1974, a milestone in the growth of finance industry mega-companies, has died. He was 81.

Bloomberg reports that he died on February 18th at St. Vincent Medical Center in Little Rock, Arkansas, where he had retired, said his son, Sam. The cause was congestive heart failure.

In a career that included posts at the U.S. Securities and Exchange Commission, the New York Stock Exchange and the Chicago Board Options Exchange, Chapman spent 20 years as an executive at the Wall Street brokerage firm that was Shearson Hammill & Co. when he arrived and part of American Express Co. by the time he left. In the interim, according to his son, he tended to the human toll of the mergers and acquisitions that made Weill a legend in the field.

'He was always the nice end of what Sandy was up to', Sam Chapman said earlier this week in an interview. 'Whenever they merged and they had to lay off people, my dad was the one who got handed the gun and he stayed up all night finding people new jobs'.

Hit the link below to access the complete Bloomberg article:

Alger ‘Duke’ Chapman, Who Sold Shearson to Weill, Dies at 81

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