| Donald B. Marron | |
|---|---|
| Born | July 21, 1934 New York City |
| Nationality | USA |
| Occupation | Finance, Private equity |
| Known for | Paine Webber (Former Chairman & CEO), Lightyear Capital (Founder), Data Resources (Co-Founder) |
Donald B. Marron (born July 21, 1934) is a financier, private equity investor and entrepreneur, notable as the chairman and chief executive officer of brokerage firm Paine Webber from 1980 through the sale of the company in 2000, as well as the founder of private equity firm Lightyear Capital and of Data Resources Inc.
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In 1959, Marron founded D.B. Marron & Company. In 1965, Marron sold his company to Mitchell Hutchins and in 1967 was named president of the company. In 1977, Mitchell Hutchins was acquired by Paine Webber.
Aside from his primary role at Mitchell Hutchins, in 1969 Marron founded Data Resources Inc. together with Harvard University notable economist Otto Eckstein. DRI became the largest non-governmental source of economic data in the world and was sold to McGraw-Hill in 1979.
In 1980, Marron was named Paine Webber’s Chief Executive Officer, and in 1981, he was named chairman of the board of Paine Webber, roles he would hold for the next two decades. In 2000, as CEO, Marron engineered the sale of Paine Webber to UBS AG.
After two years at the bank, in 2002, Marron left UBS to found Lightyear Capital, a private equity firm focused on investments in financial services companies. The firm has raised approximately $2 billion since inception across its two funds. In May 2002, Lightyear closed on its first fund, The Lightyear Fund, with $750 million of investor commitments, approximately $500 million of which came from UBS AG. In 2006, the firm completed fundraising for its second private equity fund, with $850 million of commitments from over 40 investors.[1][2]
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