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Bruce Wasserstein
Bruce Jay Wasserstein (December 25, 1947 – October 14, 2009) was an American investment banker, businessman, and writer. He was prominent in the mergers and acquisitions industry, credited with working on 1,000 transactions with a total value of approximately $250 billion.
Wasserstein was born and raised in Midwood, Brooklyn, New York, the son of Lola (née Schleifer) and Morris Wasserstein. His father, a Jewish immigrant from pre-World War II Poland, settled in New York City and started a ribbon company. His maternal grandfather was Simon Schleifer, a Jewish teacher in the yeshiva in Włocławek, Poland who later immigrated to Paterson, New Jersey and became a Hebrew school principal.
Wasserstein had four siblings: businesswoman Sandra Wasserstein Meyer (died in 1998); Pulitzer Prize–winning playwright Wendy Wasserstein (whose daughter, Lucy Jane, he was raising at the time of his death); Abner Wasserstein (died 2011); and Georgette Levis (died 2014), who was married to psychiatrist Albert J. Levis.
Wasserstein attended the Yeshiva of Flatbush for high school. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at the University of Cambridge.
Starting his career as an attorney at Cravath, Swaine & Moore, Wasserstein then moved to First Boston Corp. in 1977 and eventually rose to co-head of that company's then-dominant merger and acquisition practice. In 1988, with colleague Joseph Perella, he left First Boston to form investment bank boutique Wasserstein Perella & Co., which he sold in 2000, at the top of the late 1990s bull market, to Germany's Dresdner Bank for around $1.4 billion in stock. In 2002, he left the unit Dresdner Kleinwort Wasserstein (formed by merging Dresdner's United Kingdom unit Kleinwort Benson with Wasserstein Perella) to become head of the financial services firm Lazard. In 2005, he led the initial public offering of Lazard and became the public firm's first chairman and CEO.
Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. In 2004, he added New York Magazine to his media empire. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. He was credited with the term "Pac-Man defense", which is used by targeted companies during a hostile takeover attempt.
In 2007, Wasserstein made a $25 million donation to Harvard Law School, for the creation of a large academic wing of the school's Northwest Corner complex, which was named Wasserstein Hall.
According to Forbes, as of September 17, 2008, Wasserstein's net worth was estimated to be $2.3 billion.
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Bruce Wasserstein
Bruce Jay Wasserstein (December 25, 1947 – October 14, 2009) was an American investment banker, businessman, and writer. He was prominent in the mergers and acquisitions industry, credited with working on 1,000 transactions with a total value of approximately $250 billion.
Wasserstein was born and raised in Midwood, Brooklyn, New York, the son of Lola (née Schleifer) and Morris Wasserstein. His father, a Jewish immigrant from pre-World War II Poland, settled in New York City and started a ribbon company. His maternal grandfather was Simon Schleifer, a Jewish teacher in the yeshiva in Włocławek, Poland who later immigrated to Paterson, New Jersey and became a Hebrew school principal.
Wasserstein had four siblings: businesswoman Sandra Wasserstein Meyer (died in 1998); Pulitzer Prize–winning playwright Wendy Wasserstein (whose daughter, Lucy Jane, he was raising at the time of his death); Abner Wasserstein (died 2011); and Georgette Levis (died 2014), who was married to psychiatrist Albert J. Levis.
Wasserstein attended the Yeshiva of Flatbush for high school. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at the University of Cambridge.
Starting his career as an attorney at Cravath, Swaine & Moore, Wasserstein then moved to First Boston Corp. in 1977 and eventually rose to co-head of that company's then-dominant merger and acquisition practice. In 1988, with colleague Joseph Perella, he left First Boston to form investment bank boutique Wasserstein Perella & Co., which he sold in 2000, at the top of the late 1990s bull market, to Germany's Dresdner Bank for around $1.4 billion in stock. In 2002, he left the unit Dresdner Kleinwort Wasserstein (formed by merging Dresdner's United Kingdom unit Kleinwort Benson with Wasserstein Perella) to become head of the financial services firm Lazard. In 2005, he led the initial public offering of Lazard and became the public firm's first chairman and CEO.
Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. In 2004, he added New York Magazine to his media empire. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. He was credited with the term "Pac-Man defense", which is used by targeted companies during a hostile takeover attempt.
In 2007, Wasserstein made a $25 million donation to Harvard Law School, for the creation of a large academic wing of the school's Northwest Corner complex, which was named Wasserstein Hall.
According to Forbes, as of September 17, 2008, Wasserstein's net worth was estimated to be $2.3 billion.
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