Many executives find it hard to survive at the helm of financial services firms due to the unforgiving nature of the industry. Most of them opt to quit whenever their firms perform dismally. There is however an exclusive band of executives, who have cut a niche for themselves by providing exceptional leadership. This has been pivotal in the success of the corporations that they head. Stephen P. Murray belonged to this elite group.
Stephen’s Impressive Career
Stephen Murray is an alumnus of Boston College and the legendary Columbia Business School. He began his financial career in 1984 when he joined a financial analysis program sponsored by the Manufacturers Hanover Corporation. Five years later, he was brought on board at MH Equity Corporation.
This firm combined the private equity and leverage finance units of Manufacturers Hanover. In 1991, it was bought out by Chemical Bank, which forced Murray to move again to the newly formed firm, which was known as Chemical Venture Partners. He was pivotal in the formation of this new company. Read more: 5 Questions with Stephen Murray, CEO of CCMP Capital
More takeovers saw Stephen moving to Chase Capital Partners before becoming the head of buyout transactions at JP Morgan Partners. He cofounded CCMP Capital in 2006. The newbie broke away from JP Morgan Chase Partners and comprised the takeover and equity divisions of the firm. Stephen was subsequently named CEO in 2007.
Stephen as CCMP’s CEO
Stephen Murray is credited for helping CCMP navigate through tough financial times during its infancy years. The firm was just making its baby steps into the competitive corporate world in 2008 when the financial depression set in.
Being an astute investment banker that he was, Stephen exceeded expectations by expediently guiding CCMP and helping it gain market control. He played a key role in helping the firm establish extensive business connections, something that has gone a long way in helping it grow. Learn more about Stephen Murray CCMP Capital: http://observer.com/2015/02/this-old-thing-private-equity-honcho-drops-little-place-uptown-for-11m/ and http://culturebytes.org/the-exponential-growth-of-ccmp-capital-under-stephen-murrays-leadership/
Steve was also regarded as one of the most suave investors, and had the ability to predict the markets. This made him a revered and legendary figure in the industry. It also won him many admirers among them fellow executives who he helped mentor. He used his widespread connections to raise funds for expanding CCMP’s operations. Read more: West Village Townhouse for $17 Million
This is attested to by the fact that nearly 3.6 billion dollars was raised during his final year at the helm. He also sat on the boards of numerous companies besides participating in charity. Steve passed away at the age of 52 and is survived by his wife Tami and four sons.