Dennis Weatherstone

Who was Dennis Weatherstone?

Sir Dennis Weatherstone KBE was the former CEO and Chairman of J. P. Morgan & Co.. He attended the Northwest Polytechnic. In 1946, at age 16, he was hired as a bookkeeper and was quickly promoted to the foreign exchange trading desk at the Guarantee Trust Company, a predecessor firm in London. Weatherstone rose through the ranks, becoming the Chairman in 1980 and the CEO in 1990. He retired from J. P. Morgan in 1994 and was succeeded by Douglas Warner III "Sandy".

Sir Dennis became a Vice Chairman and director in 1979, Chairman of the Executive Committee a year later and President in 1987. In 1990, he was named Chairman and Chief Executive Officer and was knighted by Queen Elizabeth II—the first J.P. Morgan employee to receive the honour.

Later that year, Sir Dennis helped the firm earn Federal Reserve authority to trade and sell corporate stocks, making J. P. Morgan the first bank-related securities firm with a full range of securities powers. A decade later, the Glass–Steagall Act was repealed, allowing banking companies to provide any service, whether it be a loan, advice or a securities offering.