Philip Skidmore, the chairman of Belpointe Asset Management who helped develop the capital-markets unit of Lehman Brothers Holdings Inc. in the 1970s, has died. He was 75.
He died on June 13 at home in Stamford, Connecticut, his son, Greg Skidmore, said in a telephone interview. The cause was a stroke.
As a senior vice president of the syndicate department, Skidmore assisted in the expansion of Lehman Brothers Capital Markets Group, according to Belpointe’s website. He joined the firm in 1977 when the New York-based investment bank bought Kuhn, Loeb & Co., where Skidmore had worked for eight years. At Lehman, he focused on relationships with utility and telephone companies.
“He was really good at bridging cultures and helping people to understand each other,” Greg Skidmore said of his father’s involvement in the Lehman merger. “When a deal needed to close, he was the one the bankers brought in.”
Skidmore also spent 19 years at Advest, a Hartford, Connecticut-based broker-dealer, leading its investment-banking unit on mergers and acquisitions, initial share sales and secondary offerings. He worked at Advest, today a division of Bank of America Corp., from 1986 to 2005, according to a profile on LinkedIn.com.
At Advest, he built up its syndication business and maintained a balanced life, devoting a lot of time to his family, his son said.
Skidmore joined Belpointe in 2007, conducting macro-economic research and helping structure client investments from the firm’s office in Greenwich, Connecticut. Greg Skidmore is head of the company’s financial group.
Under Philip Skidmore’s chairmanship, Belpointe’s assets under management grew to $250 million from $6 million, according to his son.
“He really loved mentoring young people,” Greg Skidmore said. “One of his greatest joys was helping them get into the industry and develop their careers.”
Philip Murray Skidmore was born on June 6, 1940, in New York to Louis Skidmore and the former Eloise Owings.
The couple met as students in Paris during the 1920s, Skidmore’s brother, Louis Skidmore Jr., said in a telephone interview. His father later went into business with his brother-in-law, Nathaniel Owings, co-founding the architecture firm Skidmore, Owings & Merrill in 1936. It designed landmark buildings, including Manhattan House, Lever House and One World Trade Center in New York, as well as the John Hancock Center and Sears Tower, now known as Willis Tower, in Chicago.
Skidmore earned a Bachelor of Science degree in industrial management from the Georgia Institute of Technology in Atlanta in 1964 and an MBA in finance from New York University in 1969.
At the time of his death, he was a board member of the OPEB Trust Fund of Greenwich, helping finance medical insurance for the town’s retired employees.
With his wife of almost 50 years, the former Sarah Rawlings, Skidmore moved from New York City to Greenwich in 1996 and had lived in Stamford since November. He enjoyed sailing and sporting clays, which involves shooting clay pigeons.
In addition to his son, brother and wife, survivors include a daughter, Anne, and three grandchildren.