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Concept
André Meyer (banquier)
Résumé
André Benoît Mathieu Meyer (September 3, 1898 – September 9, 1979) was a French-American investment banker.
Meyer was born to a low-income Jewish family in Paris. As a boy, he began following the workings of the stock market and out of necessity left school at age sixteen to work as a messenger at the Paris Bourse. Ambitious, he used his time to study the intricacies of stock trading and because of personnel shortages created by so many young French men serving in the military in World War I, he was able to get a job with Baur & Fils, a small Paris bank. By 1925, his performance with the bank got him noticed by Raymond Philippe, who arranged for him to get an offer from the prestigious investment bankers Lazard Frères. Within a few years Meyer was made a partner, succeeding to Raymond Philippe.
At Lazard, André Meyer organized SOVAC (Societé pour la Vente à Crédit d'Automobiles), a finance company that in the late twenties introduced the concept of automobile financing for consumers. It made Lazard Frères a significant force in consumer credit as well as in product leasing. As well, from 1927, representing Lazard along with Paul Frantzen and Raymond Philippe, André Meyer was elected to Board of Directors of the failing automobile giant Citroën. They took charge of company expenditures and substantially reduced operating costs while putting together a financial restructuring plan that saved the company from liquidation. For his service to the economy of France, the government awarded him with the Legion of Honor.
Married with two children, Meyer, who was Jewish, and his family were forced to flee France following the Nazi occupation during World War II. He came to Lazard Frères' New York City office with Chairman Pierre David-Weill (1900–1975) and following the Allied Forces liberation in 1944 David-Weill returned to France and Meyer was appointed head of the American operations, a position he would occupy for the rest of his life.
Source officielle
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