Chrystie, Thomas Ludlow II

Chrystie, Thomas Ludlow II

Male 1933 - 2013  (80 years)

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  • Name Chrystie, Thomas Ludlow  [1
    Suffix II 
    Nickname Tom 
    Born 24 May 1933  Manhattan, New York City, New York County, New York, USA Find all individuals with events at this location  [1, 2, 3, 4
    Gender Male 
    Residence 27 Dec 1992  Jackson Hole, Teton, Wyoming, USA Find all individuals with events at this location  [5
    Died 24 Dec 2013  Charleston, Charleston County, South Carolina, USA Find all individuals with events at this location  [2, 3, 4, 6
    Person ID I58147  Sackett | Descendants of Simon Sackett the Colonist, Descendants of Thomas Sacket the Elder
    Last Modified 16 Mar 2020 

    Father Chrystie, Thomas Witter,   b. 23 Aug 1902, New York City, New York, USA Find all individuals with events at this location,   d. Unknown 
    Mother Duell, Helen,   b. 30 Jun 1906, New Rochelle, Westchester County, New York, USA Find all individuals with events at this location,   d. Unknown 
    Married 30 Jun 1927  Yonkers, Westchester County, New York, USA Find all individuals with events at this location  [7
    Children 2 children 
    +1. Chrystie, Mable Halliwell,   b. 10 Apr 1932, New York City, New York, USA Find all individuals with events at this location,   d. 6 Sep 2001, Mabou, Inverness, Nova Scotia, Canada Find all individuals with events at this location  (Age 69 years)
    +2. Chrystie, Thomas Ludlow II,   b. 24 May 1933, Manhattan, New York City, New York County, New York, USA Find all individuals with events at this location,   d. 24 Dec 2013, Charleston, Charleston County, South Carolina, USA Find all individuals with events at this location  (Age 80 years)
     
    Family ID F22521  Group Sheet  |  Family Chart

    Family Living 
    Children 
    +1. Living
    +2. Living
     3. Living
     4. Chrystie, Thomas Witter,   b. Abt 1956,   d. 27 Dec 1992, Temple, Franklin, Maine, USA Find all individuals with events at this location  (Age ~ 36 years)
     5. Living
    Last Modified 16 Mar 2020 
    Family ID F22524  Group Sheet  |  Family Chart

  • Event Map
    Link to Google MapsBorn - 24 May 1933 - Manhattan, New York City, New York County, New York, USA Link to Google Earth
    Link to Google MapsResidence - 27 Dec 1992 - Jackson Hole, Teton, Wyoming, USA Link to Google Earth
    Link to Google MapsDied - 24 Dec 2013 - Charleston, Charleston County, South Carolina, USA Link to Google Earth
     = Link to Google Earth 
    Pin Legend Address Cemetery Street/Feature Village/Neighborhood/Community Township/Parish City County/Shire State/Province Country Region Not Set

  • Photos 2 Photos

  • Sources 
    1. [S1985] New York, New York, Birth Index, 1910-1965, (Ancestry.com) (Reliability: 3), 28 Feb 2020.
      Name: Thomas L Chrystie 2nd
      Birth Date: 24 May 1933
      Birth Place: Borough of Manhattan, New York City, New York, USA
      Certificate Number: 18649

    2. [S2116] U.S., Obituary Collection, 1930-Current, (Ancestry.com) (Reliability: 3), 28 Feb 2020.
      Name: Thomas Ludlow Chrystie II
      Gender: Male
      Death Age: 80
      Birth Date: abt 1933
      Birth Place: New York City
      Residence Place: Chrystie
      Death Date: 24 Dec 2013
      Death Place: Charleston, South Carolina
      Obituary Date: 5 Jan 2014
      Parents: Thomas Witter Chrystie; Helen Duell Chrystie
      Spouse: Eliza
      Child: Alice C. Wyman
      Helen C. Hipp
      Adden Balis Chrystie
      Thomas Witter Chrystie
      James Mac Dougal Chrystie
      Siblings: Mabel Dennison

      Researched by Ted Smith

    3. [S1619] Newspapers.com (Reliability: 3), 28 Feb 2020.
      Jackson Hole News and Guide (Jackson, Wyoming), 8 Jan 2014, Page 33

      Chrystie, 80, who kept the big picture in mind

      Longtime valley resident Thomas Ludlow Chrystie II died Dec. 24 in Charleston, S.C. His family provided the following.

      Tom was born May 24, 1933, in New York City to Thomas Witter and Helen Duell Chrystie. He graduated cum laude from the Taft School in 1951, received a Bachelor of Arts, Phi Beta Kappa, from Columbia University in 1955 and Master of Business Administration with membership in Beta Gamma Sigma from New York University in 1960. He served in the Air Force from 1956 to 1958 as a management analysis officer. Tom married Eliza Silliman Balis on June 9, 1955.

      Tom had a distinguished 33-year career with Merrill Lynch from 1955 to 1988, serving in various investment banking and management capacities including heading Merrill Lynch's investment banking, capital markets and merchant banking activities. After Merrill Lynch went public, Tom served as its first chief financial officer with responsibility for planning and development.

      A cousin's ranch near Sheridan had fostered a lifelong connection to Wyoming. After his retirement in 1988, Tom and Eliza moved to Jackson Hole as full-time residents. There he became involved as general partner and principal investor in the Wort Hotel and Spring Creek Ranch, a 1,000-acre mixed-use resort The development includes Amangani, a 40-room hotel that is Amanresorts' first North American property, and Spring Creek Ranch, a year-round luxury lodging property with restaurant and riding facilities. As a result of these developments, more than 750 acres of the East Gros Ventre Butte and Spring Gulch are in permanent open space.

      Tom served as trustee to Columbia University, New York Presbyterian Hospital and Middleton Place Foundation in Charleston. He served on the boards of the Taft School, the American Health Foundation, Philips Industries, Titanium Industries, LSW Inc., Eeonyx Corporation and the Jackson State Bank and Trust Tom was a founding trustee of the National Museum of Wildlife Art.

      Tom's ability to always keep the big picture in mind was one of his hallmarks. He believed that a deal was only right when it boosted all concerned. On his office wall was a John Clymer painting emblematic of this. "The Meeting" depicts ranch owner Charles Goodnight negotiating with Chief Quanah Parker and his Comanche tribe. They had been raiding Goodnight's cattle to survive the brutal winter of 1878. The treaty they made allowed the Comanche to take two animals a day until they found buffalo. Goodnight and Chief Quanah remained friends for life. The painting is now in the collection of the wildlife museum.

      Tom was an avid fly-fisherman who loved the beauty of Jackson Hole. Whether on a raft, skis, a horse or snow-shoes, Tom enjoyed sharing the outdoors with family and friends. Happy to give up the trains and subways of New York City, he delighted in showing guests his 50-yard "commute" to his log cabin office. He was also known to trap them at the backgammon table for hours.

      Tom and Eliza moved from their home in Wilson to Charleston in 2011. He died there peacefully on Christmas Eve. He is survived by his wife, Eliza, their children Alice C. (Peter) Wyman, Helen C. (Walter) Hipp, Adden B. Chrystie, James M. Chrystie and grandchildren Eliza K. Chadwick, Raymond G. Chadwick, Peter H. Wyman, Henry T. Wyman and John L. Wyman. He was preceded in death by son Thomas W. Chrystie.

      There will be a private memorial service in Charleston. In lieu of flowers, donations in Chrystie's memory may be directed to the National Museum of Wildlife Art or the Jackson Hole Land Trust.

      Transcribed by Ted Smith

    4. [S1018] Obituary (Reliability: 3), 15 Mar 2020.
      Jackson Hole News & Guide (Jackson Hole, Wyoming), 8 Jan 2014

      https://www.jhnewsandguide.com/valley/obituaries/chrystie-who-kept-the-big-picture-in-mind/article_d820fa41-767e-52de-b6f4-9ec4c729cfb7.html

      Chrystie, 80, who kept the big picture in mind

      Longtime valley resident Thomas Ludlow Chrystie II died Dec. 24 in Charleston, S.C. His family provided the following.

      Tom was born May 24, 1933, in New York City to Thomas Witter and Helen Duell Chrystie. He graduated cum laude from the Taft School in 1951, received a Bachelor of Arts, Phi Beta Kappa, from Columbia University in 1955 and Master of Business Administration with membership in Beta Gamma Sigma from New York University in 1960. He served in the Air Force from 1956 to 1958 as a management analysis officer. Tom married Eliza Silliman Balis on June 9, 1955.

      Tom had a distinguished 33-year career with Merrill Lynch from 1955 to 1988, serving in various investment banking and management capacities including heading Merrill Lynch?s investment banking, capital markets and merchant banking activities. After Merrill Lynch went public, Tom served as its first chief financial officer with responsibility for planning and development.

      A cousin?s ranch near Sheridan had fostered a lifelong connection to Wyoming. After his retirement in 1988, Tom and Eliza moved to Jackson Hole as full-time residents. There he became involved as general partner and principal investor in the Wort Hotel and Spring Creek Ranch, a 1,000-acre mixed-use resort. The development includes Amangani, a 40-room hotel that is Amanresorts? first North American property, and Spring Creek Ranch, a year-round luxury lodging property with restaurant and riding facilities. As a result of these developments, more than 750 acres of the East Gros Ventre Butte and Spring Gulch are in permanent open space.

      Tom served as trustee to Columbia University, New York Presbyterian Hospital and Middleton Place Foundation in Charleston. He served on the boards of the Taft School, the American Health Foundation, Philips Industries, Titanium Industries, LSW Inc., Eeonyx Corporation and the Jackson State Bank and Trust. Tom was a founding trustee of the National Museum of Wildlife Art.

      Tom?s ability to always keep the big picture in mind was one of his hallmarks. He believed that a deal was only right when it boosted all concerned. On his office wall was a John Clymer painting emblematic of this. ?The Meeting? depicts ranch owner Charles Goodnight negotiating with Chief Quanah Parker and his Comanche tribe. They had been raiding Goodnight?s cattle to survive the brutal winter of 1878. The treaty they made allowed the Comanche to take two animals a day until they found buffalo. Goodnight and Chief Quanah remained friends for life. The painting is now in the collection of the wildlife museum.

      Tom was an avid fly-fisherman who loved the beauty of Jackson Hole. Whether on a raft, skis, a horse or snowshoes, Tom enjoyed sharing the outdoors with family and friends. Happy to give up the trains and subways of New York City, he delighted in showing guests his 50-yard ?commute? to his log cabin office. He was also known to trap them at the backgammon table for hours.

      Tom and Eliza moved from their home in Wilson to Charleston in 2011. He died there peacefully on Christmas Eve. He is survived by his wife, Eliza, their children Alice C. (Peter) Wyman, Helen C. (Walter) Hipp, Adden B. Chrystie, James M. Chrystie and grandchildren Eliza K. Chadwick, Raymond G. Chadwick, Peter H. Wyman, Henry T. Wyman and John L. Wyman. He was preceded in death by son Thomas W. Chrystie.

      There will be a private memorial service in Charleston. In lieu of flowers, donations in Chrystie?s memory may be directed to the National Museum of Wildlife Art or the Jackson Hole Land Trust.

    5. [S1619] Newspapers.com (Reliability: 3), 28 Feb 2020.
      The Burlington Free Press (Burlington, Vermont), 29 Dec 1992, Page 12

      THOMAS W. CHRYSTIE

      SOUTH BURLINGTON -- Thomas W. Chrystie, 36, of Sherry Road died unexpectedly Sunday after a long and tragic illness, while visiting relatives in Maine.

      Mr. Chrystie devoted most of his life to his love of art as well as French, social, and language studies. A private family service has been scheduled. There will be no calling hours.

      He is survived by his parents, Thomas L. Chrystie and Eliza Balis Chrystie of Jackson Hole, Wyo.; a brother, James M. Chrystie of New York City; and three sisters, Alice Wyman of Pelham, N.Y., Helen Chadwick of South Burlington, and Adden Chrystie of New York City.

      Researched by Ted Smith

    6. [S62] New York Times (Reliability: 3), 15 Mar 2020.
      The New York Times (New York, New York), 14 Jan 2014
      https://www.nytimes.com/2014/01/15/business/thomas-l-chrystie-bank-services-innovator-dies-at-80.html

      Thomas L. Chrystie, Bank Services Innovator on Wall St., Dies at 80

      By Paul Vitello

      When Thomas L. Chrystie became a top executive in the early 1970s at Merrill Lynch & Company, it was a rocky time for Wall Street brokerage firms. A recession, a bear market, high inflation and ?stagflation,? the fusion of rising prices and rising unemployment, had stock investors fleeing and taking with them the commissions and fees that brokerage houses lived on.

      Mr. Chrystie?s boss, Donald Regan, the chairman of Merrill Lynch ? and later the Treasury secretary and White House chief of staff to President Ronald Reagan ? assigned Mr. Chrystie to invent new ways to make money.

      Mr. Chrystie, who died on Dec. 24 in Charleston, S.C., at 80, is credited with doing that by helping to midwife the first cash management account, or C.M.A. The account brought checking, savings and credit card services into the elite domain of the embossed stock certificate.

      C.M.A.?s soon attracted billions of dollars in new investment for Merrill Lynch, and eventually the brokerage business generally, because they offered a kind of one-stop-shopping convenience. Fortune magazine called them ?a glitteringly creative idea.?

      Developed between 1975 and 1977 with the help of dozens of researchers and economists working under Mr. Chrystie, the C.M.A. provided a package of services that previously required separate transactions with other institutions. Among the services were:

      A combined brokerage and money market account that earned interest. (Until then it was available only through mutual fund companies.)

      A savings account in which a client?s dividends and investment payouts were deposited automatically and usually given a better interest rate than that of bank savings accounts.

      A checking account (previously offered only by banks).

      A debit and credit card account (previously offered only by credit card companies).

      A loan service: clients could borrow up to 50 percent of the amount in their account balance.

      On the other side of the cash window, Merrill was allowed by federal regulators to use its customers? C.M.A. deposits to trade in securities, which banks were not permitted to do under the 1933 Glass-Steagall Act, which was then in force. (Congress repealed it in 1999).

      ?The C.M.A. was a device that crossed once-uncrossable barriers,? Joe Nocera, now a columnist for The New York Times, wrote in his 1994 book, ?A Piece of the Action: How the Middle Class Joined the Money Class.? ?It gave customers a way to cut out some of the myriad overlap that was so prevalent in the financial universe.?

      But it was also a complex set of services that initially proved expensive to manage and unpopular with brokers and their bosses because it generated no commissions. Mr. Regan questioned the C.M.A. as well, but Mr. Chrystie overcame his doubts, Mr. Nocera wrote, by appealing to his hypercompetitiveness, ?reminding Regan that brokerage firms weren?t the only ones who could create a product like this. A bank could do it, and so could Sears Roebuck.?

      Thomas Ludlow Chrystie II was born in Manhattan on May 24, 1933, the son of Thomas Witter Chrystie, a prominent lawyer and member of one of the city?s oldest families, and Helen Duell Chrystie. He graduated from the Taft School in Watertown, Conn., in 1951 and from Columbia University in 1955.

      He was hired by Merrill Lynch the same year and worked there his entire career as a manager, investment banker and executive, leaving only to serve in the Air Force from 1956 to 1958. He received his M.B.A. from New York University in 1960. He retired in 1988.

      Mr. Chrystie is survived by his wife, Eliza Silliman Balis Chrystie; a son, James; three daughters, Adden Balis Chrystie, Helen C. Hipp and Alice C. Wyman, who confirmed his death; and five grandchildren.

      Mr. Chrystie was involved in other Merrill Lynch initiatives, but the C.M.A. was what he was most widely known for in the financial world, though not always with unalloyed gratitude. At a company awards ceremony soon after it was introduced, Merrill?s brokers, mourning what they saw as lost future earnings, presented him, good-naturedly, with a gold-plated casting of a human (or possibly canine) dropping.

      The trophy, his family said, remained one of Mr. Chrystie?s most prized possessions.

    7. [S1902] New York State, Marriage Index, 1881-1967, (Ancestry.com) (Reliability: 3), 28 Feb 2020.
      Name: Helen Duell
      Gender: Female
      Marriage Date: 30 Jun 1927
      Marriage Place: Yonkers, New York, USA
      Spouse: Thomas W Chrystie
      Certificate Number: 21896

      Researched by Ted Smith


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