David M. Kennedy

David Matthew Kennedy ( born July 21, 1905 in Randolph, Utah; † 1 May 1996 Salt Lake City, Utah) was an American businessman, diplomat and politician ( Republican) of the Cabinet of President Richard Nixon belonged as Minister of Finance.

Study and career

After school he studied at Weber State University, where he graduated in 1928 with a Bachelor of Arts (BA). After a two-year stay in England as a missionary of the Church of Jesus Christ of Latter-day Saints ( Mormons), he continued his studies at the George Washington University and graduated in 1935 with a Master of Arts (MA ) from. A the same time period of probationary study of law, he graduated in 1937 with a Doctor of Laws ( LL.D. ) from. Subsequently, he completed his studies at the Stonier Graduate School of Banking at Rutgers University, where he graduated in 1939 with a bachelor's degree.

Already during his studies he was from 1930 to 1946 Employees of the bar of Governors of the Federal Reserve System (Fed ) and got there eventually appointed assistant to the former longtime chairman of the Fed, Marriner S. Eccles on. After the Second World War, he began his career at Continental Illinois National Bank, in which he rose from an employee of the Department of Income Securities ( Bond Department) as President and Director in 1956 and finally as Chairman and CEO in 1959.

Political career

Governments of Eisenhower, Kennedy and Johnson

Between 1953 and 1957 he was special assistant to the then Finance Minister George M. Humphrey for issues of debt management in the first administration of President Dwight D. Eisenhower.

In October 1962, not related to him, U.S. President John F. Kennedy appointed him a member of a private company that would manage the U.S. share of a global satellite system. In this society he was elected in 1964 in the Executive Board. 1969 President Lyndon B. Johnson appointed him as Chairman of the Commission on budgetary concepts. The recommendations of that commission were ultimately adopted as a standard practice of financial management of the government.

Finance Minister and ambassador under President Nixon

After the election of Richard Nixon as U.S. president called him this on January 22, 1969 as Secretary of the Treasury in his cabinet. This office practiced Kennedy until his replacement by John Connally on 11 February 1971.

After that he was special envoy with cabinet rank, before he acted from March 1972 to February 1973 as the United States Ambassador to NATO. Later, he was from 1976 to 1990 chairman and founder of the 1976 USA - Taiwan Business Council. In his honor, the David M. Kennedy Center for International Studies at Brigham Young University in Provo, Utah was named.

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