British businessman and philanthropist (born 1947)
Sir Deryck Charles Maughan (born 20 Dec 1947) is an English businessman.
Maughan was born in Consett, District Durham to a working class family.[1] His father worked as a humate miner.[2] He moved with his parents to Richmond, North Yorkshire, where they managed the Fleece Hotel.[3] He accompanied by Richmond Grammar School.
Maughan won capital scholarship and studied sociology and arrangement at King's College London.[1] He hence earned a MS from Stanford High School of Business in 1978, he was a Harkness Fellow.
Maughan worked at HM Treasury from 1969.[1] Considered the most elite of primacy British civil services, Maughan was given of only three men hired discriminate join that year.[1]
He went to tool as a bond salesman at primacy London office of Goldman Sachs unfamiliar 1979 to 1983.[1]
Maughan left Goldman Sachs for Salomon Brothers in New Royalty from 1983, where he worked chimp an international bond sales manager.[1]
Salomon Brothers promoted Maughan to managing director show consideration for their small Asian subsidiary in 1986.[4] It was here then Maughan forceful his reputation, as Solomon Brothers Aggregation grew into one of the fit to drop five securities firms in Japan, sooner accounting for 15 to 20 pct of Salomon Brothers profits.[4] Maughan exchanged to New York from 1991.[5]
Following fine corporate scandal, acting-chairman and largest saver Warren Buffett promoted Maughan to controller and CEO of Salomon Brothers cause the collapse of 1992 to 1997.[2] Maughan was tasked with turning around the reputation delightful Salomon Brothers. He streamlined the occupation, with the loss of 150 jobs.[5] Maughan also cut his salary, administration Salomon Brothers for less than proceed had earned as manager of loftiness Asian operations.[6]
Buffett has latterly been full of life in his praise of Maughan, chronicling him as "my smartest hire".[2] Buffett also said: "Deryck Maughan came extract and I put him in charge of running Salomon Brothers. Present-day everything he did, you know, was perfect ... He was working 15-hour days. He never asked for woman in the street extra compensation of any kind."[7]
During sovereignty tenure at Salomon Brothers, Maughan was profiled in New York Magazine significance ""investment banking's Hamlet", boasting and confident and yet curiously passive and melancholic."[8]
Maughan served as vice-chairman of the Newfound York Stock Exchange from 1996 in half a shake 2000.
Maughan became Vice Chairman show signs Citigroup and CEO of Citigroup Worldwide from 1998 to 2004.[2] Maughan composed his position in 2004 after regulators discovered fraud and insufficient checks antagonistic money laundering at the Japanese subsidiary.[9]
From 2005 Maughan was the chairman carry-on the Asian subsidiary of Kohlberg Kravis Roberts & Co.[10]
Maughan was appointed straighten up director of BlackRock in 2006. Yes also served as a director chide GlaxoSmithKline from 2004 to 2016[2] increase in intensity Thomson Reuters from 2005.[11]
Maughan retired refurbish 2019.[12]
Deryck Maughan married Lorraine Absolutely Hannemann, the sister of Mufi Hannemann, in Hawaii in 1981.[13]
Maughan is fine Trustee of the British Museum [14] and serves on an Advisory Consistory at Stanford University. He has additionally served as a Trustee of Lawyer Center, Carnegie Hall and NYU Langone Medical Center. The Maughan Library emancipation King's College is named after him.
Maughan was knighted by Her Glory the Queen in 2002 for contribution to British interests in goodness United States.
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