Co-inventor of the money-market mutual fund. Investment banker, financial consultant and manager of securities investments for Teachers Insurance and Annuity Association. His collaboration with Bruce Bent created a system whereby an investor of average means could pool their money with similar investors, thus enabling them to invest in financial instruments that were previously monetarily out of reach to them. The invention of the money market fund by Brown and his partner Bent was credited by the American Museum of Financial History, an affiliate of the Smithsonian Institution, as a major innovation in the financial history of the United States. A 1947 graduate of Harvard University, his ancestral heritage includes Federal District Court Judge Addison Brown (grandfather), who was co-founder of the New York Botanical Garden in 1891, and Richard Henry Lee (great-great-great grandfather), a lawyer and senator from Virginia who moved for a resolution of independence from Great Britain in 1776 and was a signer of the Declaration of Independence. His cause of death was abdominal aneurysm.
Bio by: Legacy
Bio by: Legacy
Co-inventor of the money-market mutual fund. Investment banker, financial consultant and manager of securities investments for Teachers Insurance and Annuity Association. His collaboration with Bruce Bent created a system whereby an investor of average means could pool their money with similar investors, thus enabling them to invest in financial instruments that were previously monetarily out of reach to them. The invention of the money market fund by Brown and his partner Bent was credited by the American Museum of Financial History, an affiliate of the Smithsonian Institution, as a major innovation in the financial history of the United States. A 1947 graduate of Harvard University, his ancestral heritage includes Federal District Court Judge Addison Brown (grandfather), who was co-founder of the New York Botanical Garden in 1891, and Richard Henry Lee (great-great-great grandfather), a lawyer and senator from Virginia who moved for a resolution of independence from Great Britain in 1776 and was a signer of the Declaration of Independence. His cause of death was abdominal aneurysm.
Bio by: Legacy
Bio by: Legacy
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