Banking

JPMorgan board member James Crown eliminated in racetrack mishap in Colorado

The JPMorgan Chase & Co. workplaces throughout in London, U.K., on Wednesday, May 4, 2022. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon stated the Federal Reserve must have moved faster to raise rates as inflation strikes the world economy. Photographer: Chris Ratcliffe/Bloomberg

Chris Ratcliffe/Bloomberg

(Bloomberg) –James Crown, president of Henry Crown & Co., the financial investment car of among Chicago’s wealthiest households, passed away Sunday in a crash at a racetrack in Woody Creek, Colorado. He was commemorating his 70th birthday.

Crown was eliminated in a single-vehicle accident at the Aspen Motorsports Park after he stopped working to browse a turn and hit an effect barrier, according to a declaration from the Pitkin County Coroner’s Office. The event was ruled a mishap, the coroner stated.

Crown was a regular visitor to Colorado ski nation. His household owns the Aspen Skiing Co., an operator of mountain and ski location centers based in Aspen. 

He was likewise the longest-serving board member of JPMorgan Chase, having actually been a director for the bank or its predecessor companies returning to 1991.

“We extend our deepest condolences to Jim’s family and loved ones during this incredibly difficult time,” Jamie Dimon, ceo of the New York-based bank, stated in a declaration Monday. “Our thoughts are also with all of you who knew and loved Jim, as much as I did. He was an integral part of JPMorgan Chase and our lives, and his presence will be deeply missed.”

His daddy, Lester Crown, 98, is a stakeholder in New York’s Rockefeller Center, the New York Yankees, the Chicago Bulls and defense professional General Dynamic Corp. 

Lester Crown accumulated his fortune through Material Service Corp., which he established with his siblings Irving and Sol in 1919 and developed to turn into one of the biggest cement suppliers in the United States at one point. General Dynamics, among the nation’s biggest defense professionals, gotten Material Services. Lester Crown rested on its board from 1974 to 2006. 

Through the household’s philanthropy, the Crown name embellishes Chicago organizations consisting of the Arie Crown Theater at McCormick Place, the Henry Crown Space Center at the Museum of Science and Industry and structures at the University of Chicago and Northwestern University.

James Crown was taken part in a strategy to combat widespread criminal offense in Chicago as part of the Civic Committee of the Commercial Club. As chair of the civic group’s public-safety job force, he and other magnate desired the city to slash murders in half and shootings by more than 40% over the next 5 years.

He made a degree in government from Hampshire College in 1976 and got his law degree from Stanford University in 1980. Crown ended up being a vice president of the Capital Markets Service Group in 1983 and joined his household’s financial investment company in 1985.

–With help from Leah Harrison and Hannah Levitt.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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