Nicholas F. Brady
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| Nicholas F. Brady | |
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| In office September 15, 1988 – January 17, 1993 |
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| President | Ronald Reagan George H. W. Bush |
| Preceded by | James Baker |
| Succeeded by | Lloyd Bentsen |
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| In office April 27, 1982 – December 27, 1982 |
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| Preceded by | Harrison A. Williams |
| Succeeded by | Frank Lautenberg |
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| Born | April 11, 1930 New York City, New York |
| Nationality | American |
| Political party | Republican |
| Spouse | Katherine Brady |
| Religion | Catholic |
Nicholas Frederick Brady (born April 11, 1930, in New York City) was United States Secretary of the Treasury under Presidents Ronald Reagan and George H. W. Bush, and is also known for articulating the Brady Plan in March 1989.
The son of James Cox Brady, Jr., his great-grandfather was industrialist Anthony N. Brady. Nicholas Brady grew up on an estate in Far Hills, New Jersey.[1] He was educated at Yale University (B.A., 1952) and Harvard University (M.B.A., 1954). He and his wife, Katherine, have four children.
Brady's political career began when he was appointed as a Republican Senator from New Jersey to fill the vacancy caused by the resignation of Harrison A. Williams, Jr. He served from April 20, 1982 through December 27, 1982 and did not seek election to a full term. During his time in the Senate he was a member of the Armed Services Committee and the Banking, Housing and Urban Affairs Committee. As of 2008 he is the last Republican to serve in the US Senate representing New Jersey (Clifford Case was the last elected Republican to serve in the Senate from New Jersey).
In 1984 President Reagan appointed Brady to be Chairman of the President's Commission on Executive, Legislative and Judicial Salaries. He also served on the President's Commission on Strategic Forces (1983), the National Bipartisan Commission on Central America (1983), the Commission on Security and Economic Assistance (1983), and the Blue Ribbon Commission on Defense Management (1985). He also chaired the Presidential Task Force on Market Mechanisms in 1987.
Brady became the 68th Secretary of the Treasury on September 15, 1988. In 1989, after a period of years in which a number of developing countries, including Mexico, defaulted on their international debt, he developed the Brady Plan to help them sell dollar-denominated bonds. These became known as Brady Bonds.
Secretary Brady's career in the banking industry spanned 34 years. He joined Dillon, Read & Co. in New York City in 1954, rising to Chairman of the Board. He has been a Director of the NCR Corporation, the MITRE Corporation, and the H.J. Heinz Company, among others. His father had been a major figure in Thoroughbred horse racing both in the United States and in Europe. Although never involved with the sport at the same level as his father, Nicholas Brady served for a time as chairman of The Jockey Club.
He has also served as a trustee of Rockefeller University and a member of the Board of the Economic Club of New York. He is a member of the Council on Foreign Relations, Inc. He is a former trustee of the Boys' Club of Newark.
[edit] References
- ^ Quint, Michael. "The Financier 'Who Knows What Is Going On'", The New York Times, August 6, 1988. Accessed November 27, 2007. "The great grandson of Anthony N. Brady, an Irish emigrant who was a friend and business associate of Thomas A. Edison, Nicholas Brady grew up on a large estate in Far Hills, N.J., that borders on the Dillon family estate."
| United States Senate | ||
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| Preceded by Harrison A. Williams |
United States Senator (Class 1) from New Jersey 1982 Served alongside: Bill Bradley |
Succeeded by Frank Lautenberg |
| Government offices | ||
| Preceded by James Baker |
United States Secretary of the Treasury 1988–1993 |
Succeeded by Lloyd Bentsen |
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