Obituary of Dennis Weatherstone

Sir Dennis Weatherstone, who let J.P. Morgan as chairman and chief executive and was a big supporter of Darien organizations, died Friday, June 13, at Stamford Hospital after a prolonged illness. Mr. Weatherstone, 77, was the husband of Marion Weatherstone. In the world of banking and finance, Mr. Weatherstone was known as a smart, careful leader, trusted by clients, employees, fellow bankers, and world leaders. Mr. Weatherstone always felt an obligation to share his good fortune, his family said, and was generous to many organizations locally and internationally. In Darien, the Darien Arts Center's Weatherstone Studio is named for his family. Three Darien EMS-Post 53 ambulances have carried the legend "Lady W" to honor Marion Weatherstone, his wife of 49 years. The Weatherstones have been constant supporters of Darien: from the library to Post 53 to the fire departments, the nature center, SoundWaters, Person-to-Person, and Norwalk's Stepping Stones. As a prominent benefactor, Mr. Weatherstone led the Advisory Council of the St. George's Society and was a major contributor to the British Memorial Garden project in New York's Hanover Square. As neighbors, the Weatherstones were known for their warm and traditional British Boxing Day parties for friends and neighbors. Even the caterers came to feel like family. Mr. Weatherstone headed J.P. Morgan from 1990 to 1994, when he retired. A leading authority on world financial markets, he helped shape J.P. Morgan's strategic diversification over several decades into a range of sophisticated global financial activities. The cover of the May 1990 issue of Institutional Investor featured a close-up of a smiling Dennis Weatherstone and the headline: "Can a nice guy really run the Morgan Bank?" The cover story later asked: "Chairman Dennis Weatherstone is universally praised for this smarts, kindness and common touch. But is he tough enough?" He was tough enough to guide J.P. Morgan for five highly successful years as its CEO. In 1994, Fortune magazine named J.P. Morgan as one of America's Top Ten Most Admired Companies. In 1995, Mr. Weatherstone was appointed an independent member of the Board of Banking Supervision of the Bank of England. He served in that role until the board was subsumed into the Financial Services Authority in 2001. His career began in 1946 at the Gauranty Trust Company, predecessor firm of J.P. Morgan, in his native city of London. During his tenure in the bank's London office he was a foreign exchange trader and then moved into general management, becoming vice president and deputy general manager of that office before being assigned to J.P. Morgan's New York headquarters in 1971. That is the year he and his family moved to Darien. Promoted to senior vice president in 1972, he became head of worldwide foreign exchange and international treasury. In 1977, as executive vice president and treasurer, he integrated the firm's treasury operations globally. Two years later, he was elected a vice chairman and a director. In 1980, he became chairman of the Executive Committee. In 1987, he became president. Mr. Weatherstone is also a former director of Air Liquide/Paris, General Motors Corp., Merck & Co. Inc., and the New York Stock Exchange. He is a past president of the International Monetary Conference and a director of the Institute for International Economics. Until his death, he was board chairman of the Niarchos Foundation, an international philanthropic organization. In 1990, after a nomination by then-Prime Minister Margaret Thatcher, Mr. Weatherstone was knighted by Queen Elizabeth II. Born in London, at 15 he joined the Lombard Street branch of Guarantee Trust as a junior clerk and earned a night school degree at London's North Western Polytechnic, passing his A's and O's in three years, the youngest person to do so. In the late 1940s, he served in the Royal Air Force, with duty in Egypt. Upon his return to the bank, which had become Morgan Guarantee Trust, he built a reputation as a brilliant foreign exchange trader, a talent that would serve him throughout his career. When Lewis Preston was sent from the home office to run the London branch, he commanded a wide view of his operations floor. He soon noticed that whenever anything serious happened, people would flock to Mr. Weatherstone's exchange desk. Mr. Preston later became chairman of J.P. Morgan and brought Mr. Weatherstone to New York. Aside from the love of "his Lady Marion" as he affectionately called his wife, and his children, Mr. Weatherstone was blessed with many friends locally and internationally, his family said. A lifelong tennis buff, Mr. and Mrs. Weatherstone enjoyed the game tremendously and recently began playing golf. Aside from his wife of 49 years, Mr. Weatherstone is survived by his children, Hazel, Cheryl, Gretel and Rick, and grandchildren Carson and Hunter, Gabrielle, Connor, Ethan and Mitchell; and his sister, Joyce. The family will welcome visitors on Friday, June 20, at the Lawrence Funeral Home, 2119 Post Road, Darien, from 4 to 8 PM. A memorial service will be held on Saturday, June 21, at the First Congregational Church, 14 Brookside Road, Darien, at 11 AM. Memorial contributions may be made to Autism Speaks, 1060 State Road, 2nd floor, Princeton, NJ 08540. Funeral Home: Edward Lawrence Funeral Home 2119 Post Road Darien, CT USA 06820