William H. Donaldson
On February 28, 2003, investment banker William H. Donaldson became the 27th Chairman of the Securities and Exchange Commission. He was nominated to the position by President George W. Bush on December 10, 2002. Donaldson replaced "embattled former SEC head, Harvey Pitt, who resigned November 6, 2002 amid a brewing conflict of interest scandal."
Donaldson graduated with a bachelor's degree in American Studies from Yale University in 1953 and was a member of Skull & Bones.  Donaldson was a Marine Corps veteran between 1953 and 1955 and graduated with a master's degree in business administration from Harvard Business School in 1958.
According to NPR in 1959 he co-founded the international investment bank and stock research firm Donaldson, Lufkin & Jenrette and co-founder of its former investment management subsidiary, Alliance Capital Management Corporation. He was a Senior Advisor of until September 1995 when he joined Aetna.
He was the "founder of Yale University's School of Management in the late 1970s where he served as Dean and Professor of Management Studies." 
In 1981 he founded Donaldson Enterprises which he is chairman and chief executive officer of. .
He was also Chairman, President, and CEO] of Aetna, Inc. a position he retired from in April 2001.   In 2000 Donaldson raked in $35,739,914 in total compensation from Aetna. He has $18,314,940 in unexercised stock options from previous years. 
Donaldson was also a Director of the board of Philip Morris from 1979
Memberships and affiliations
- Donaldson was a member of the Council on Foreign Relations Corporate Affairs and Development Committee 2001-2002; web site
- "Donaldson was a member of George Herbert Walker Bush's Presidential Economic Delegation to Poland in 1989." 
Mr. Donaldson is the former Chairman of the Carnegie Endowment for International Peace who he joined in 1988 and was elected as cahirman of in 1999. He is a Director of Bright Horizons Family Solutions, Inc. (family support services) and EasyLink Services Corp. (Internet service provider). The founding Dean and Professor of Management at the Yale School of Management, he also served as U.S. Under Secretary of State and Counsel to the Vice President of the United States. Mr. Donaldson is a Director of the Lincoln Center for the Performing Arts and the Foreign Policy Association, is a trustee of the Aspen Institute [resigned January 2003], the Marine Corps University Foundation and The New York City Police Foundation, Inc., and is the Chairman of the Yale School of Management Advisory Board.
Other Related SourceWatch Resources
- William H. Donaldson, The Opportunities and Challenges of Globalization, Foreign Policy Association Annual Dinner, May 30, 2000. [Source: Foreign Policy Association].
- The Aetna Prescription. The Aetna Player Roster, baselinemag.com, August 9, 2002: "William H. Donaldson. Board Member. Donaldson served as interim CEO after forcing the ouster of Richard Huber in March 2000. Donaldson was a co-founder of Wall Street's Donaldson, Lufkin & Jenrette."
- Jonathan Peterson, Bush chooses market veteran to be SEC chief. Donaldson's job: Renew confidence, LATimes, December 11, 2002.
- Molly Ivins, An Economic Snow Job, CommonDreams, December 15, 2002: "The media report 'Wall Street is delighted' that 71-year-old Donaldson, a longtime friend of the Bush family, will be their new regulator. Of course it is all-important that Wall Street should be delighted. Who do you think we're running this game for?"
- Commentary: The SEC Needs a Reformer, Not a Pretty Resume, BusinessWeek, December 23, 2002.
- Lloyd Grove, Washington Times, January 31, 2003: "Administration officials insisted yesterday that they're not worried about Fortune magazine's scandalous scoop about William H. Donaldson, President Bush's choice to chair the Securities and Exchange Commission. Fortune reported that in the 1980s, the married Donaldson had an affair with the wife of then-Rep. Bruce Morrison (D-Conn.). Jane Morrison, who worked at the Yale School of Management when Donaldson was dean, gave birth to a love child by Donaldson. Donaldson's first wife died of a cerebral hemorrhage in 1994, and he and Morrison wed the following year. Messy as this revelation sounds, administration types said the White House knew all about it. They predict that it won't interfere with Donaldson's nomination, scheduled to be considered by the Senate Banking Committee on Wednesday, and that he'll get the chance to repair the SEC's scandal-battered image."
- U.S. Senate Committee on Banking, Housing, and Urban Affairs Hearing: Nomination of William H. Donaldson, February 5, 2003.
- Sheryl Fred, A Friendly Face. Did money pave the way for soon-to-be SEC chief William H. Donaldson's smooth Senate confirmation hearing?, CapitalEye, February 13, 2003.
- New SEC Chair Sworn In, CBSNews.com, February 18, 2003.
- Money in Politics Alert -- SEC Chairman Nominee William H. Donaldson, BuzzflashAlert, February 19, 2003: "Does Bush know anyone who is not a borderline crook, or worse?"
- Bush swears in new boss of SEC. President praises William Donaldson as 'the right man at the right time', AP, February 19, 2003.
- Kevin Drawbaugh, Donaldson facing internal and external challenges at SEC. Crises involving the Big Board, the mutual-fund industry, and the agency have surprised him - but not shaken him, Philadelphia Inquirer, November 14, 2003.
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