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Valerie Mosley

Financial executive Valerie Mosley was born on February 5, 1960 in Tuskegee, Alabama to Clara Mosley and Clarence Mosley. Mosley earned her B.A. degree in history from Duke University in Durham, North Carolina in 1983. She received her M.B.A. degree in finance from the University of Pennsylvania’s Wharton School of Finance in Philadelphia, Pennsylvania in 1986.

Mosley worked as a commercial lending officer at Chase Manhattan Bank until she enrolled at the University of Pennsylvania in Philadelphia, Pennsylvania in 1984. Upon her graduation from the University of Pennsylvania, Mosley worked in institutional bond sales at Kidder, Peabody, and Company until 1990. She then joined P.G. Corbin Asset Management, Inc. as a chief investment officer and portfolio manager. In 1992, Mosley left the firm to join Wellington Management Group, where she worked as a portfolio manager, investment strategist, and senior vice president during her twenty-year career with the company. As a fixed income portfolio manager, she oversaw a $9 billion portfolio and joined the company’s Core Bond Strategy Group and Industry Strategy Group, which handled $20 billion in fixed income portfolios for corporate and public pension funds, endowments, and mutual funds. In 2005, Mosley was appointed partner at Wellington Management Company, LLP. After leaving the company in 2012, Mosley founded Valmo Ventures, Inc., which specialized in trend identification, global wealth management, and corporate advisory. Mosley also founded Heart Beings, a blog devoted to positive articles, informative interviews, and financial advice.

Mosley served on President Barack Obama’s Board of Advisors on Historically Black Colleges and Universities. Mosley also served on the Federal Reserve Bank of Boston’s Advisory Board for Diversity, as president of the Wharton Alumni Club of Atlanta, and as director of The Eaton Vance Fund. Mosley was also named as one of the “50 Most Powerful Women in Business” in 2006, as one of the “Top 75 Blacks on Wall Street” by Black Enterprise in 2011, and one of the “Top 50 African Americans on Wall Street” by Black Enterprise magazine.

Mosley has three children: Taylor, Ryan, and Amanda.

Valerie Mosley was interviewed by The HistoryMakers on August 19, 2017.

Accession Number

A2017.136

Sex

Female

Interview Date

08/19/2017

Last Name

Mosley

Maker Category
Occupation
Organizations
First Name

Valerie

Birth City, State, Country

Tuskegee

HM ID

MOS06

Favorite Season

Fall

State

Alabama

Favorite Vacation Destination

Martha's Vineyard

Favorite Quote

Love yourself unconditionally and in so doing...

Bio Photo
Speakers Bureau Region State

Massachusetts

Birth Date

2/5/1960

Birth Place Term
Speakers Bureau Region City

Martha's Vineyard

Country

United States

Favorite Food

Collard greens

Short Description

Financial executive Valerie Mosley (1960 - ) served as a portfolio manager for Wellington Management Company and became founder and CEO of Valmo Ventures, Inc.

Favorite Color

Orange

Wanda Henton Brown

Financial executive Wanda Henton Brown was born in 1952 in Pineville, Louisiana to Evangeline Compton Henton and Mack Henton, Sr. She enrolled in college at the age of fourteen through an early entrance program, and enrolled at Southern University in Baton Rouge, Louisiana. She graduated with her B.S. degree, and received her J.D. degree from Southern University Law School in 1977.

Henton Brown moved to Boston, Massachusetts in the early 1980s to work at the minority-owned law firm Budd & Wiley, led by Fletcher “Flash” Wiley and Wayne Budd. In 1985, she moved from law into public finance, and accepted a position in the public sector as a debt issuance coordinator for the New York State Housing Finance Agency and the New York State Medical Care Facilities Finance Agency. Henton Brown moved her work in public finance into the investment banking sector in 1989, when she joined the investment banking firm of Dillon, Read & Co. as a vice president, and then became executive vice president at the asset management company of Lazard Freres in 1992. During her tenure as a vice president, her clients included the State of Connecticut, the Fulton County Water and Sewer Authority in Georgia, Lambert-St. Louis International Airport, and the District of Columbia. Henton Brown founded her own financial services consulting firm, Lloyd Bridge Advisory Corp. in New York City, in the late 1990s. She also served on the corporate boards of both StanCorp Financial Group, Inc., Ocean Energy, Inc., New York State Teachers’ Retirement System, and National Association of Securities Professionals.

In 2003, Wanda Henton Brown married Dr. Ewart Brown, then a Member of Parliament in his native land of Bermuda. Dr. Brown became the premier of Bermuda of 2006, and she became the first lady from 2006 to 2010. Presiding over affairs of state such as the visit of Queen Elizabeth II of the United Kingdom to Bermuda in 2009. Henton Brown also worked with her husband on the operation of two medical practices on the island, Bermuda Healthcare Services and Brown-Darrell Clinic.

Wanda Henton Brown was interviewed by The HistoryMakers on August 20, 2017.

Accession Number

A2017.147

Sex

Female

Interview Date

08/20/2017

Last Name

Henton Brown

Maker Category
Marital Status

Married

Occupation
Organizations
First Name

Wanda

Birth City, State, Country

Pineville

HM ID

BRO66

Favorite Season

Spring

State

Louisiana

Favorite Vacation Destination

Martha's Vineyard

Favorite Quote

No worries/do unto others....

Bio Photo
Speakers Bureau Region State

New York

Birth Date

12/6/1951

Birth Place Term
Speakers Bureau Region City

New York

Country

United States

Favorite Food

Shrimp/lobster

Short Description

Financial executive Wanda Henton Brown (1952 - ) worked as an investment banker with firms such as Lazard Freres and her own company, Lloyd Bridge Advisory Corp. She also served as first lady of Bermuda from 2006 to 2010 and CEO of Bermuda Health and the Brown-Darrell Clinic.

Favorite Color

Peach

Tamara Harris Robinson

Financial advisor and civic leader Tamara Harris Robinson was born on August 13, 1967 in St. Croix, U.S. Virgin Islands to Theresita Shelburn Harris and Earl Harris. Robinson graduated from the Philadelphia High School for Girls in 1984, and went on to earn her B.A. degree in economics, with a minor in Spanish, from the University of Pittsburgh in 1988. She then earned her M.B.A. degree from the University of Pittsburgh in 1989, and her M.S.W. and E.M.P.A. degrees from New York University in 2012.

From 1990 to 1994, Robinson worked as an associate at Prudential Financial in Newark, New Jersey and Scranton, Pennsylvania. Robinson then became an equity research analyst at Deutsche Bank in 1996. In 1997, she began working at Salomon, Inc. in Hong Kong. Robinson and her then-husband founded the North Jersey Advocates for Education and the Robinson Harris Foundation in 2004, working with the United Negro College Fund (UNCF) to provide scholarships for minority students. Robinson served as president of the North Jersey Advocates for Education from 2003 to 2009. In 2011, Robinson founded the Haramat Group, serving as chief executive officer. Then, in 2013, she founded Tamara Harris LLC, a divorce consultation firm. Robinson became an adjunct professor at New York University’s Silver School of Social Work in New York City in 2015.

Robinson was active in various organizations throughout her career as well. From 2008 to 2013, she served as vice chair of the United Negro College Fund board of directors, and as chair of the UNCF’s 2012 “A Mind Is…” Gala. Robinson also served as an adjunct professor of public child welfare at Montclair State University and as an adjunct instructor of management and organization practice at New York University Silver School of Social Work. She was a member of the National Association of Professional Women, the Studio Museum in Harlem’s Global Council, the Apollo Theater’s Women’s Committee, and the Davis Museum at Wellesley College’s Director’s Council. Robinson served on the board of trustees at Second Stage Theatre as well.

Robinson has two daughters, Paige Robinson and Simone Robinson.

Tamara Harris Robinson was interviewed by The HistoryMakers on December 17, 2016.

Accession Number

A2016.142

Sex

Female

Interview Date

12/17/2016

Last Name

Robinson

Maker Category
Marital Status

Divorced

Middle Name

Leona

Schools

New York University Silver School of Social Work

New York University Wagner Graduate School of Public Service

University of Pittsburgh

Philadelphia High School for Girls

Thomas K. Finletter School

Wesleyan Academy

Moravian School VI

First Name

Tamara

Birth City, State, Country

St. Croix

HM ID

ROB30

Favorite Season

Summer

Favorite Vacation Destination

Miami

Favorite Quote

Don't Be Mainstream, Find Your Own Stream.

Bio Photo
Speakers Bureau Region State

New York

Birth Date

8/13/1967

Birth Place Term
Speakers Bureau Region City

New York

Country

U.S. Virgin Islands

Favorite Food

Tuna Fish

Short Description

Financial advisor and civic leader Tamara Harris Robinson (1967 - ) worked at Prudential Financial, Deutsche Bank, and Salomon, Inc. She also founded the North Jersey Advocates for Education, the Robinson Harris Foundation, the Haramat Group, and Tamara Harris LLC.

Employment

Tamara Harris LLC

Haramat Group

New Jersey Advocates for Education

Citigroup Inc.

Prudential Financial Inc.

New York University

WTJX-TV

3M

Morgan, Grenfell and Co.

Favorite Color

Navy Blue

Timing Pairs
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DAStories

Tape: 1 Story: 1 - Slating of Tamara Harris Robinson's interview

Tape: 1 Story: 2 - Tamara Harris Robinson lists her favorites

Tape: 1 Story: 3 - Tamara Harris Robinson describes her father's family background

Tape: 1 Story: 4 - Tamara Harris Robinson talks about her father's upbringing in the U.S. Virgin Islands, pt. 1

Tape: 1 Story: 5 - Tamara Harris Robinson talks about her father's upbringing in the U.S. Virgin Islands, pt. 2

Tape: 1 Story: 6 - Tamara Harris Robinson describes the racial diversity in the U.S. Virgin Islands

Tape: 1 Story: 7 - Tamara Harris Robinson recalls the importance of landownership in the U.S. Virgin Islands

Tape: 1 Story: 8 - Tamara Harris Robinson describes her mother's family background

Tape: 1 Story: 9 - Tamara Harris Robinson describes how her parents met

Tape: 1 Story: 10 - Tamara Harris Robinson describes her earliest childhood memory

Tape: 1 Story: 11 - Tamara Harris Robinson describes the sights, sounds and smells of her childhood

Tape: 1 Story: 12 - Tamara Harris Robinson remembers her community on St. Thomas, pt. 1

Tape: 2 Story: 1 - Tamara Harris Robinson remembers her community on St. Thomas, pt. 2

Tape: 2 Story: 2 - Tamara Harris Robinson talks about her parents' reasons for returning to the U.S. Virgin Islands

Tape: 2 Story: 3 - Tamara Harris Robinson remembers the cultural shifts in the U.S. Virgin Islands

Tape: 2 Story: 4 - Tamara Harris Robinson describes her elementary schooling in the U.S. Virgin Islands

Tape: 2 Story: 5 - Tamara Harris Robinson describes her early experiences of religion

Tape: 2 Story: 6 - Tamara Harris Robinson talks about her perception of her light skin color

Tape: 2 Story: 7 - Tamara Harris Robinson talks about her skin color privilege, pt. 1

Tape: 2 Story: 8 - Tamara Harris Robinson talks about her skin color privilege, pt. 2

Tape: 2 Story: 9 - Tamara Harris Robinson remembers moving to Philadelphia, Pennsylvania

Tape: 3 Story: 1 - Tamara Harris Robinson talks about moving to the United States

Tape: 3 Story: 2 - Tamara Harris Robinson talks about her relationship with her father

Tape: 3 Story: 3 - Tamara Harris Robinson describes her experiences at the Philadelphia High School for Girls

Tape: 3 Story: 4 - Tamara Harris Robinson describes her decision to attend the University of Pittsburgh

Tape: 3 Story: 5 - Tamara Harris Robinson describes her mother's education and career

Tape: 3 Story: 6 - Tamara Harris Robinson talks about her decision to study economics

Tape: 3 Story: 7 - Tamara Harris Robinson remembers her coursework at the University of Pittsburgh

Tape: 4 Story: 1 - Tamara Harris Robinson talks about the University of Pittsburgh Joseph M. Katz Graduate School of Business

Tape: 4 Story: 2 - Tamara Harris Robinson remembers her position at 3M in Minneapolis, Minnesota

Tape: 4 Story: 3 - Tamara Harris Robinson describes her reasons for leaving 3M

Tape: 4 Story: 4 - Tamara Harris Robinson recalls how she came to work for Prudential Financial Services

Tape: 4 Story: 5 - Tamara Harris Robinson talks about her role at Prudential Financial Services

Tape: 4 Story: 6 - Tamara Harris Robinson remembers moving to Hong Kong as a newlywed

Tape: 4 Story: 7 - Tamara Harris Robinson remembers her interest in working internationally

Tape: 4 Story: 8 - Tamara Harris Robinson describes her reasons for moving back to New York City

Tape: 4 Story: 9 - Tamara Harris Robinson talks about working in a global environment

Tape: 5 Story: 1 - Tamara Harris Robinson talks about her decision to move to New Jersey

Tape: 5 Story: 2 - Tamara Harris Robinson describes the creation of the New Jersey Advocates for Education

Tape: 5 Story: 3 - Tamara Harris Robinson describes the New Jersey Advocates for Education

Tape: 5 Story: 4 - Tamara Harris Robinson talks about her experiences in Beijing, China, pt. 1

Tape: 5 Story: 5 - Tamara Harris Robinson talks about her experiences in Beijing, China, pt. 2

Tape: 5 Story: 6 - Tamara Harris Robinson remembers joining the board of the United Negro College Fund

Tape: 5 Story: 7 - Tamara Harris Robinson talks about the challenges faced by historically black colleges

Tape: 6 Story: 1 - Tamara Harris Robinson remembers organizing galas for the United Negro College Fund

Tape: 6 Story: 2 - Tamara Harris Robinson talks about the lack of college preparatory classes in inner city public schools

Tape: 6 Story: 3 - Tamara Harris Robinson describes her experiences at the Silver School of Social Work at NYU

Tape: 6 Story: 4 - Tamara Harris Robinson remembers founding the Haramat Group and Tamara Harris LLC

Tape: 6 Story: 5 - Tamara Harris Robinson describes her role as a divorce coach, pt. 1

Tape: 6 Story: 6 - Tamara Harris Robinson talks about her role as a divorce coach, pt. 2

Tape: 6 Story: 7 - Tamara Harris Robinson describes the process and services of Tamara Harris LLC

Tape: 7 Story: 1 - Tamara Harris Robinson talks about her plans for the future

Tape: 7 Story: 2 - Tamara Harris Robinson talks about balancing her life and career

Tape: 7 Story: 3 - Tamara Harris Robinson reflects upon her legacy

Tape: 7 Story: 4 - Tamara Harris Robinson reflects upon her life

Tape: 7 Story: 5 - Tamara Harris Robinson shares her advice for future generations

DASession

1$1

DATape

2$5

DAStory

6$2

DATitle
Tamara Harris Robinson talks about her perception of her light skin color
Tamara Harris Robinson describes the creation of the New Jersey Advocates for Education
Transcript
I want to talk about skin color because that's always (laughter)--$$Let's talk about that (laughter). Okay. Let's talk about that.$$--a sensitive topic (simultaneous)--$$(Simultaneous) All right, Harriette [HistoryMaker Harriette Cole].$$--in our communities, and, and you're--$$Okay.$$--coming from an island that you've just described all of the different peoples who have populated the island over time, and, you know, you yourself are very fair skinned. How--what are the skin color dynamics on St. Thomas [U.S. Virgin Islands], and how did you navigate that?$$Ooh, so that's, that's been--it's been a very--it's been a very interesting journey, and so I will start with the overarching mantra that I have which is race--I think growing up in the islands and my experience with skin color, I think by the time I was eleven, I, I distinctly remember this, eleven, twelve years old, internalizing that race is a social construct, and it has nothing to do with me, and the reason I said that is because--I would say twelve because it kind of solidified when I moved to the states, so I'm the lightest person in my family. My family, your complexion--my, my mother [Theresita Shelburn Harris], outside of my mother, who was always frustrated that she always passed for everything but black. I mean, she--always mistaken for Hispanic, Hawaiian, Italian, you know, everything, so she had her own issues and journey with race, but I remember growing up in my family being teased a lot for being this light skinned.$$By family members?$$By family members. My father [Earl Harris] used to call me his little white cheese, and his little--but, yeah, and so--or when I would--you know, if I was too pale, he would say, "We need to get you out in the sun and get you some color," so that was, that was what I experienced in the home with someone that was supposed to sort of accept you no matter what, but what I realized, that was his own issues with color and race and didn't--you know, is what it was. But he wasn't the only one. I would go home or if I'd be out and you'd see people. They'd say, "Oh, my god. Why you so light? You know, you don't get out in the sun." "What's wrong with you? Get your daughter out in the sun." So this was like this pervasive thing that I would hear, and I, I remember one summer actually getting sun poisoning because I was trying to get darker. I had to go to the doctor. I had to get this medicine 'cause my--I mean, I was just--I had ruined my, my gums were a mess, so as a young kid, remembering so--wanting so desperately to be black, like be dark and, and darker, you know, and, and loving it. Like not--so I grew up as a kid knowing that black is a thing of beauty, and I wanted--you know, and I, I was trying to do what I could about it, but it was what it was. So I moved to the states, and I'm now living in a town where it's very Jewish. Irish people go to the Catholic school, on the way to my school [Thomas K. Finletter Elementary School; Thomas K. Finletter School, Philadelphia, Pennsylvania], and I remember getting on the bus, and these two Irish boys on their way to school, got on the bus, saw me, and said, "Oh, my god, look at the little N girl." And I looked at them, and I said--I--I'm gonna--I said, I said, "Thank you." (Laughter) And I said, I said, "You think I'm black? Thank you so much." And the bus driver died laughing, died laughing, and they thought I was crazy. Those two guys looked at me, and they didn't even know what to do with me because what they thought they were doing in terms of hurling me an insult, I was like, finally, somebody recognizes I'm black. And I said that. "Finally, finally, somebody sees I'm black." And so they were, they were horrified because they didn't, they didn't know what to do with that. And then you fast forward, and so that's, you know, middle school, and then you get to high school [Philadelphia High School for Girls, Philadelphia, Pennsylvania], and then I have guys hitting on me 'cause I'm, I'm--then I'm hearing terms that I never heard in the Caribbean, you know, red bone, high, high yellow, you know, all the things that they say about--$$Right.$$--light skinned girls, and--$$They didn't say that there.$$I didn't hear those terms until I moved to the states. That's just not what we--you know, that's not a--$$Right.$$--terminology that we used down there. But what--so and then getting all this attention because I'm, I'm black. I mean, so there's no question about that, or I had been accepted into this tribe, but I'm, I'm on this other side of the spectrum that somehow makes me more attractive or more, you know, desirable or whatever.$And then you founded an organization [New Jersey Advocates for Education] shortly after that--$$Yeah (simultaneous).$$--(simultaneous) is that right?$$Yeah.$$What--tell me about that.$$So we came to New Jersey, and we actually went to--so we, you know, we set up in the suburbs, and I'm meeting people, and, you know, have got kids. My old- my oldest now is going still into elementary school, so I'm beginning to, you know, connect with the community, and my, my ex [Robinson's ex-husband] and I went to an event, actually, a UNCF [United Negro College Fund] event, that was being hosted down in Princeton [New Jersey] by some UNCF alum that had gone to historically--some of the, some of the UNCF HBCUs [historically black colleges and universities], and so it was a group of African American professionals; lawyers, bankers, people in the Princeton area, that decided to host this event. And I met the area director at the time, and one of the things that they did at the event is they had a guest speaker, and it was a young man who had grown up in Newark [New Jersey], and had gotten a ton of scholarships. You know, his mother kept him on the strong path and got him to a major university here in New Jersey, had gotten scholarships, a full ride, and he was going to study chemistry, science, and he had done well in his school environments, but once you got to this predominantly white institution, started to get depressed, you know, wasn't as smart as his peers. Professors, to your point about teachers and how sort of supportive they are, wasn't really finding he was in a community that was nurturing of his environment, and now he was out of his element, right, away from home, away from his mother, and it reflected in his grades. And he was becoming very depressed, and he was actually at the point where he was maybe in jeopardy of losing his scholarship, so he was very much in distress, very much struggling. So he said a cousin had invited him to come down and visit him for homecoming at Morehouse [Morehouse College, Atlanta, Georgia], and he said when he walked on that campus, he literally called his mother and said he's going to be transferring to Morehouse, and his mother was devastated because he was giving up his full ride. He had to work three jobs to, to graduate from that school, but he did it, and then he went onto get his degree in chemistry and worked in some of the--at one of the pharmas, but then actually left to go teach in the City of Newark. And he had won teacher of the year in math and science and actually twice, which was a new, a new experience. So he talked about what Morehouse had done for him and going to an HBCU and actually had received a UNCF scholarship, so that was the journey. And I have to say, I was so moved. And, actually, when I worked at Prudential [Prudential Financial Services; Prudential Financial, Inc.] when we had United Way [United Way of America; United Way Worldwide] drives, UNCF at the time was one of the recipients, so I gave money to UNCF, and, again, I went to a--you know, I had a--I went to--I lived on an island that had a car- HBCU [College of the Virgin Islands; University of the Virgin Islands, Charlotte Amalie, U.S. Virgin Islands], knew people from HBCUs, so very much involved and invested in that. So I went up to the area director and said, "You know, I'd love to support" (background noise)--$$Keep going, keep going.$$"I'd love to support UNCF," and I said, "You can, you can actually, you know, tell me what I can do, but I'm, I'm willing to--you know, how can I be of help?" And he said, "Well, if you want to host an event in your area, we'd love to have you do that." I said, "No, no. I have two kids [Paige Robinson and Simone Robinson], I just want to lick some stamps, and, you know, do some--you know, seal some envelopes. I don't have time for that. I've got like, young, young kids." So he said, he looked at me and my accent, and he said, "You know, we need young people like you doing things like this." He said, "You know, we've had a lot of folks in the New Jersey area that have lifted us up and carried us a long way, but they're onto, to new and different things in their phase of life, and, you know, what we're doing here in Princeton, we don't have anybody in the space that you live in, and we would love to replicate something like this there." So my ex and I went home, and we realized, you know, if we did this, this would be a commitment. This wasn't just, you know, write a check. If we were going to do something, we needed support, so we gathered a group of our friends from the kitchen cabinet and said, "Look, you know, we're thinking of having this event. We will underwrite it. We'll pay for the party, but if we do that, would each of you be willing to either fill a table or write a check that's the equivalent of a table?" And everyone in that room, Harriette [HistoryMaker Harriette Cole], had either gone to an HBCU, received UNCF money, had been a scholarship recipient, or they were very passionate about education for minority youth, and there wasn't a single person that didn't say yes. And we had our first event. It was a fashion show at our home. We had [HistoryMaker] B Michael, we had all kinds of people. It was, it was actually quite interesting what we pulled together, and we had about 220 people, and we raised $107,000 at our first event.

Mary Bush

Financial executive and federal government official Mary K. Bush was born in 1948 in Birmingham, Alabama to Augusta and Johnny Bush. She graduated from Ullman High School in 1965 and received her B.A. degree, Phi Beta Kappa Magna Cum Laude, in economics and political science from Fisk University in 1969. Bush went on to receive her M.B.A. degree in finance in 1971 from the University of Chicago.

In 1971, she joined Chase Manhattan Bank in New York City as a credit analyst. From 1973 to 1976, Bush worked as an account officer for Citbank, and from 1976 to 1982, she worked as vice president and team leader for Bankers Trust Company. In 1982, she held the position of executive assistant to the deputy secretary for the United States Treasury. In 1984, President Ronald Reagan appointed Bush as United States alternate executive director of the International Monetary Fund (IMF). Four years later, Bush became vice president of international finance for the Federal National Mortgage Association (Fannie Mae). In 1989, she served as managing director of the Federal Housing Finance Board for the Federal Home Loan Bank System. Bush founded her own global consulting firm, Bush International, LLC, in 1991. From 1994 to 1997, Bush hosted "Markets and Technology," a nationwide cable television program on global business and government policy. In 2006, she was appointed by President George W. Bush as chairman of the Helping to Enhance the Livelihood of People around the Globe Commission (HELP). Bush is a frequent television commentator and speaker on global business and financial matters and corporate governance. She has also advised the foreign governments of Bulgaria, the Republic of Korea, the Republic of the Philippines and the Republic of Singapore.

Bush has applied her financial and economic expertise on the board of directors of many companies including Discover Financial Services, The Pioneer Family of Mutual Funds, Mantech International Corporation and Marriott International. Bush also serves on the Investment Company Institute Board of Governors and on the boards of the Independent Directors Council and Capital Partners for Education. She also serves on the advisory boards of Stern Stewart International, the Global Leadership Foundation (US Advisory Board) and the Kennedy Center Community and Friends Advisory Board.

Mary K. Bush was interviewed by The HistoryMakers on March 7, 2012.

Accession Number

A2012.055

Sex

Female

Interview Date

3/7/2012

Last Name

Bush

Maker Category
Marital Status

Single

Schools

Ullman High School

Fisk University

University of Chicago Booth School of Business

Center Street Elementary School

First Name

Mary

Birth City, State, Country

Birmingham

HM ID

BUS03

Favorite Season

Spring

State

Alabama

Favorite Vacation Destination

Italy

Favorite Quote

To Thine Own Self Be True.

Bio Photo
Speakers Bureau Region State

District of Columbia

Birth Date

4/9/1948

Birth Place Term
Speakers Bureau Region City

Washington

Country

United States

Favorite Food

Vegetables

Short Description

Financial executive and federal government official Mary Bush (1948 - ) served on the board of the International Monetary Fund, where she designed the Structural Adjustment Facility. She was also the vice president of international finance at Fannie Mae and the managing director of the Federal Housing Finance Board.

Employment

Bush International, LLC

NET (formerly America's Voice)

Federal Home Loan Bank System

Federal National Mortgage Association (Fannie Mae)

International Monetary Fund

United States Treasury Department

Bankers Trust Company

Citibank

Chase Manhattan Bank

Discover Financial Services

Marriot International

Pioneer Family of Mutual Funds

ManTech International Corporation

United Airlines

PEFCO

Brock Capital

First National City Bank

Mortgage Guaranty Insurance Corporation

American Security Bank

Briggs and Stratton

Texaco, Inc.

Favorite Color

Blue

Timing Pairs
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DAStories

Tape: 1 Story: 1 - Slating of Mary Bush's interview

Tape: 1 Story: 2 - Mary Bush lists her favorites

Tape: 1 Story: 3 - Mary Bush describes her maternal family background

Tape: 1 Story: 4 - Mary Bush talks about her mother's education and occupation

Tape: 1 Story: 5 - Mary Bush describes her father's occupation

Tape: 1 Story: 6 - Mary Bush describes her paternal family background

Tape: 1 Story: 7 - Mary Bush lists her siblings

Tape: 1 Story: 8 - Mary Bush remembers her father's work ethic

Tape: 1 Story: 9 - Mary Bush talks about her father's education

Tape: 1 Story: 10 - Mary Bush describes the sights, sounds and smells of her childhood

Tape: 1 Story: 11 - Mary Bush describes her earliest childhood memories

Tape: 1 Story: 12 - Mary Bush remembers walking to elementary school

Tape: 1 Story: 13 - Mary Bush talks about Center Street Elementary School in Birmingham, Alabama

Tape: 1 Story: 14 - Mary Bush recalls her extracurricular activities

Tape: 2 Story: 1 - Mary Bush remembers the Sixth Avenue Baptist Church in Birmingham, Alabama

Tape: 2 Story: 2 - Mary Bush recalls entering Samuel Ullman High School in Birmingham, Alabama

Tape: 2 Story: 3 - Mary Bush remembers her neighbors in Birmingham, Alabama, pt. 1

Tape: 2 Story: 4 - Mary Bush remembers her neighbors in Birmingham, Alabama, pt. 2

Tape: 2 Story: 5 - Mary Bush reflects upon her experiences at Samuel Ullman High School

Tape: 2 Story: 6 - Mary Bush recalls her decision to attend Fisk University in Nashville, Tennessee

Tape: 2 Story: 7 - Mary Bush remembers the bombing of the 16th Street Baptist Church in Birmingham, Alabama

Tape: 2 Story: 8 - Mary Bush talks about the bombings during the Civil Rights Movement in Birmingham, Alabama

Tape: 2 Story: 9 - Mary Bush talks about her decision to attend school in the South

Tape: 2 Story: 10 - Mary Bush recalls the assassination of Reverend Dr. Martin Luther King, Jr.

Tape: 2 Story: 11 - Mary Bush describes the history of Fisk University

Tape: 3 Story: 1 - Mary Bush talks about her experiences at Fisk University in Nashville, Tennessee

Tape: 3 Story: 2 - Mary Bush recalls her decision to attend the University of Chicago Booth School of Business

Tape: 3 Story: 3 - Mary Bush recalls her first impressions of Chicago, Illinois

Tape: 3 Story: 4 - Mary Bush remembers her classmates at the University of Chicago Booth School of Business

Tape: 3 Story: 5 - Mary Bush recalls her training at Chase Manhattan Bank

Tape: 3 Story: 6 - Mary Bush recalls her position at the First National City Bank

Tape: 3 Story: 7 - Mary Bush recalls becoming a vice president of Bankers Trust

Tape: 3 Story: 8 - Mary Bush talks about her work at Bankers Trust

Tape: 3 Story: 9 - Mary Bush remembers being recruited to the U.S. Department of the Treasury

Tape: 3 Story: 10 - Mary Bush describes her role at the U.S. Department of the Treasury

Tape: 3 Story: 11 - Mary Bush talks about economic policy under President Ronald Reagan

Tape: 4 Story: 1 - Mary Bush recalls her appointment to the International Monetary Fund

Tape: 4 Story: 2 - Mary Bush remembers designing the Structural Adjustment Facility

Tape: 4 Story: 3 - Mary Bush remembers her work at the Federal National Mortgage Association

Tape: 4 Story: 4 - Mary Bush describes her role on the Federal Housing Finance Board

Tape: 4 Story: 5 - Mary Bush talks about her experiences as an African American woman in the federal government

Tape: 4 Story: 6 - Mary Bush talks about her friendship with Condoleezza Rice

Tape: 4 Story: 7 - Mary Bush remembers becoming an independent consultant

Tape: 4 Story: 8 - Mary Bush recalls her start as a corporate board member

Tape: 4 Story: 9 - Mary Bush reflects upon her corporate board memberships

Tape: 5 Story: 1 - Mary Bush describes her corporate board memberships

Tape: 5 Story: 2 - Mary Bush talks about her speeches on corporate governance

Tape: 5 Story: 3 - Mary Bush describes how she would like to be remembered

Tape: 5 Story: 4 - Mary Bush shares her plans for the future

Tape: 5 Story: 5 - Mary Bush reflects upon her family

Tape: 5 Story: 6 - Mary Bush narrates her photographs

DASession

1$1

DATape

2$4

DAStory

8$2

DATitle
Mary Bush talks about the bombings during the Civil Rights Movement in Birmingham, Alabama
Mary Bush remembers designing the Structural Adjustment Facility
Transcript
You said in your mind, "What did they bomb now?" What--so this--the things had led up to this, what were those things?$$Well, there were I think I mentioned Attorney Shores earlier, Arthur Shores, who lived in Smithfield [Birmingham, Alabama] and had a beautiful house sort of on the top of the hill, his house was bombed two or three times that I recall and even though it was Smithfield the next community over, you could, you could hear those as well. Reverend Shuttlesworth [HistoryMaker Reverend Fred Shuttlesworth] lived a little further out. I don't think I, I couldn't hear when his home or church was bombed but of course we would hear about it. There were, there was a house about a block and a half from me where another minister lived, his home was bombed. There were shrapnel bomb planted in the sidewalks where we had to walk to school one day. When, when I was in high school [Samuel Ullman High School, Birmingham, Alabama], we would walk about two, three, about three and a half blocks you know to get to the bus on 6th Avenue to go up to our high school and shrapnel, I don't know if you know what it is, but it's all these sharp things that were planted beneath the sidewalks and the shrapnel went off along about a two and a half, three block radius just the pathway that many of us would walk to school, Freeman [HistoryMaker Freeman Hrabowski], Cheryl [Cheryl McCarthy], Sandra Copeland, many of the kids in the neighborhood, and they went off and the other interesting thing is this shows how cohesive our not just our churches and schools were but our communities were, a couple of my teachers and my brother's teachers, Freeman's teachers lived on the street that was closest to 6th Avenue. So when the shrapnel went off there those teachers got on the phone immediately and they just started a chain going, "Keep your child home, keep your child home, keep your child home." And it's a good thing that they did because one might assume this shrapnel, these shrapnel bombs had gone off and then it was you know safe to go onto the bus, but indeed those phone calls were very important because our parents indeed kept us home and just about the time when we would have been actually walking out to go to school, another set of shrapnel bombs went off. So the bombings were frequent and regular. In fact that's kind of how Birmingham [Alabama] got its nickname, Bombingham.$$And this is the 1960s, you're at this point this is high school years?$$Yes.$$So you're going to school, the external environment is hostile. The internal environment is nurturing and supportive.$$You put your finger right on it. (Laughter) Yes, yes.$What would you say your, your, the, the accomplishment is that you're the proudest of at the time that you were at the IMF [International Monetary Fund]?$$The, the thing that I'm most proud of is creation of a new lending facility. Again it was that--$$Structural Adjustment--?$$--the Structural Adjustment Facility referred to shorthand the SAF. It was later called the Expanded Structural Adjustment Facility [sic. Enhanced Structural Adjustment Facility]. The reason was that our [U.S.] Congress and the other governments around the world decided to add more money to that fund. But here's the reason that it was significant. The IMF was lending to countries and when the IMF lends, it negotiates economic programs with the country. Those economic programs are focused primarily on fiscal policy and in other words budgets, how much you're spending, taxes and that kind of thing and monetary policy. What they--what those programs were not focused on as I saw it were the things that actually, the business part of it. The practical things that really get economic growth and that comes from business, it does not come from government. So I saw that issue. The other issue was that many finance ministers and essential bank governors would walk into my door and so they would always meet with the United States because of our strong voting power as well as with the management of the IMF and so many of them said to me the IMF and the World Bank, which is the sister institution to the IMF are giving us different conditions, different things that they want us to meet when we borrow from each institution and they frequently conflict with each other. And I said this doesn't make sense. So that was one thing that didn't make sense. The other thing that didn't make sense was that when we were, even though we were lending to a country and they would pay down some of the money, the next year or the year after, they were back again with the same problem and I said, "We're not addressing the problems, we're not addressing all of the problems." The Structural Adjustment Facility was aimed at doing that. Number one it brought the IMF and the World Bank together to negotiate with the country together and to be sure that the economic conditions that they were requiring were in sync with each other but number two, I wanted us to focus and we did focus and the Structural Adjustment Facility on investment policy. In other words with the right regulations in place so that people living in an African country, a Latin country, an Asian country would want to keep their money at home and invest it there. Were the right policies in place where they could attract foreign investment? Were the right tax policies in place so that they were not confiscating an enormous amount of the productivity of business? Was there a lot of red tape that prevented or that hindered the formation of new businesses and new companies? Those were the kinds of things that the staff addressed, addressed.$$Who was head of the IMF at that time?$$Initially it was Jacques de Larosiere and during my last oh, year and a half there, it was Michel Camdessus. Both Frenchmen, both outstanding.