John Langeloth Loeb Sr.

John Langeloth Loeb Sr. (November 11, 1902 – December 8, 1996) was an American investor and executive who served as president of Loeb, Rhoades & Company. Early life and education Loeb was born to a Jewish family on November 11, 1902, in St. Louis, Missouri, the son of Adeline (née Moses) and Carl M. Loeb. His father was an immigrant from Germany who made a fortune after gaining control of the American Metal Company (founded by Berthold Hochschild and Jacob Langeloth). Jacob Longeloth was his father's mentor hence his son's middle name. His mother was the daughter of Alabama banker, Alfred Huger Moses. He had three siblings: Carl M. Loeb Jr., Henry A. Loeb and Margaret Loeb Kempner (married to Alan H. Kempner). Loeb attended Dartmouth College and then transferred to Harvard College where he graduated in 1924. Career After his graduation, he worked for the American Metal Company in Pittsburgh and in 1929, he went to work for Maurice Wertheim at Wertheim & Company. In 1931, he and his father co-founded the Carl M. Loeb & Company in order to manage the family's holdings with the firm paying $250,000 to become a member of the New York Stock Exchange. Loeb served as a partner. In 1937, the firm merged with Rhoades & Company to form Loeb, Rhoades & Company. During World War II – from 1942 to 1944 – he worked for the United States Treasury and the Office of War Mobilization. In 1955, Loeb became a senior partner in the firm. In 1964, he organized the National Independent Committee for President Lyndon B. Johnson and Senator Hubert H. Humphrey. In 1973, he pleaded no contest to three federal charges of disguising campaign contributions to Senator Hubert H. Humphrey's 1972 Presidential primary campaign. In 1977, he became chairman and CEO. In 1978, Loeb, Rhoades & Company merged with Hornblower, Weeks, Noyes & Trask to form Loeb, Rhoades, Hornblower & Company; Loeb became co-chairman of the combined firm's finance committee. In 1979, Loeb, Rhoades, Hornblower, & Company merged with Shearson Hayden Stone to form Shearson Loeb Rhoades & Company. In 1981, Shearson Loeb Rhoades & Company was acquired by the American Express Company, becoming Shearson Lehman/American Express. In 1984, he was named an honorary chairman of Shearson Lehman/American Express.