Name John LaWare | ||
John P. LaWare (February 20, 1928 – 2004) was a banker and a former Governor of the Federal Reserve Board.
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Early life and education
LaWare was a native of Columbus, Wisconsin. He was born on February 20, 1928. After receiving a B.A. in biology from Harvard College in 1950, he earned a M.A. in political science from the University of Pennsylvania in 1951. After that, he served in the U.S. Air Force during the Korean War.
Banking career
In 1953 LaWare joined Chemical Bank, where he served during the ensuing 25 years, rising to Senior Vice President of Marketing. In 1978 he joined Shamut Bank in Boston, MA as President. Two years later, he became Chairman and CEO of both Shawmut Bank in Boston, MA and its holding company, Shawmut Corporation. During his time at Shawmut, he served as Chairman of the Massachusetts Business Roundtable, Chairman of the Massachusetts Bankers Association and Children's Hospital in Boston. He also served as a Director of the Federal Reserve Bank of Boston.
Federal Reserve
President Reagan nominated LaWare to the Federal Reserve Board in 1988. In spite of the fact that LaWare was a Democrat, Senator Proxmire (D-WI) initially opposed his nomination, but eventually he was confirmed by the Senate. He served on the Federal Reserve Board until 1995.
Honors
LaWare received honorary doctors degrees from Suffolk University and Northeastern University. He was also honored as Distinguished Citizen by the Boy Scouts of America, the Minuteman Council, and the College of Business of Northeastern University. He died in 2004.