Peter G. Peterson - The New York Community Trust

February 12, 2018 | By The New York Community Trust

Peter G. Peterson

Peter G. Peterson knew about making money. He was chairman emeritus and co-founder of The Blackstone Group, a leading investment and advisory firm. He was also chairman of the Federal Reserve Bank of New York from 2000 to 2004. Before he founded Blackstone, he was the chairman and CEO of Bell and Howell, Lehman Brothers, and Lehman Brothers Kuhn, Loeb.

Mr. Peterson has also done his time in government, as assistant to President Nixon on international economic affairs, and as Secretary of Commerce. He’s also was a prolific writer: his book, Running on Empty: How the Democratic and Republican Parties are Bankrupting Our Future and What Americans Can Do About It, made The New York Times bestseller list.

And Mr. Peterson knew how to give away money. He chaired the Council on Foreign Relations and the Peterson Institute for International Economics, was the founding president of The Concord Coalition, and through his fund at The Trust, he supported these organizations and many, many others. Like a lot of our donors, he added to his fund by contributing appreciated stock. But Mr. Peterson also holds non-publicly traded securities, including limited partnership interests, assets that The Trust has experience in converting to the financial benefit of charity. Mr. Peterson also had a private foundation.

“My wife, Joan Ganz Cooney, and I have been delighted with our long relationship with The Trust, which dates from the ’70s. In fact, as checkered as my career has been, I can say that The Trust has been one of the constants. Sure, steady, reliable — a sound charitable investment.”