Arthur Deane Nesbitt

From Wikipedia, the free encyclopedia

Arthur Deane Nesbitt (November 16, 1910 - February 22, 1978) was a Canadian businessman and a decorated pilot and Wing Commander in World War II.

Deane Nesbitt was born in Westmount, Quebec, the son of the very successful stock broker and co-founder of Nesbitt, Thomson and Company, Arthur James Nesbitt. Trained as an electrical engineer, after his older brother Aird decided to take over permanent management of the family-owned Ogilvy department store in Montreal, Deane Nesbitt joined the family's securities business. On the death of his father in 1954, he became head of the brokerage and took over the presidency of the Nesbitt Thomson holding company, Power Corporation of Canada. Under his guidance, Nesbitt Thomson expanded across Canada, and into the United States and Europe. They were the first Canadian firm in three decades to obtain a seat on the New York Stock Exchange.

A flying enthusiast, Deane Nesbitt obtained his pilots license and as a member of the Montreal Light Aeroplane Club, was twice voted the James Lytell Memorial Trophy as the club's top pilot. On the outbreak of World War II, Deane Nesbitt immediately enlisted in the Royal Canadian Air Force (RCAF) and was trained at Camp Borden as a fighter pilot. He was seriously wounded in the Battle of Britain and received the Distinguished Flying Cross. Along with his brother Aird who served the Canadian Army, he was part of the liberation of the Netherlands and at Eindhoven commanded the RCAF's No.143 Wing from January to August 1945. For his service, Deane Nesbitt received a number of military honors. In 1946 he was made an Officer of the Order of the British Empire and in 1947 a Commander of the Order of Orange-Nassau with Swords, and awarded the Croix de Guerre with Silver Star by the government of France.

After being decommissioned at the end of the War, Group Captain Deane Nesbitt rejoined the family's St. James Street securities firm. Highly successful in business, he is most often remembered for organizing the 1950s financing for the TransCanada pipeline, the then largest natural gas pipeline in the world and one of the most significant energy projects in the history of Canada. His long and successful history in business earned him an induction into the Canadian Business Hall of Fame.

Active all his life, at age 68, Deane Nesbitt never recovered from a skiing accident that left him near totally paralyzed. He died in Montreal in 1978 and was interred in the Mount Royal Cemetery.

In his honor, the BMO Nesbitt Burns division of the Bank of Montreal established the A. Deane Nesbitt/Charles Burns Award recognizing exceptional performance.

[edit] References