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American businessman and banker From Wikipedia, the free encyclopedia
Louis Graveraet Kaufman (November 13, 1870 – March 10, 1942) was an American business executive and businessman. He was named president of the First National Bank of Marquette in Marquette, Michigan, in 1906.[1] In 1910, he became the president of Chatham National Bank of New York,[1] while also remaining president of First National.[2] Under Kaufman, Chatham National soon merged with Phenix National to form the Chatham Phenix National Bank and Trust Company.[3] By the time Kaufman retired in 1932, the bank had increased 50-fold in size.[4] after Joining General Motors board of directors in 1910, Kaufman remained on GM's board for 22 years, and was chairman of their finance committee.[2]
Louis Graveraet Kaufman | |
|---|---|
Kaufman, c. 1910 | |
| Born | November 13, 1870 |
| Died | March 10, 1942 |
| Nationality | American |
| Occupation(s) | President of First National Bank of Marquette, Chatham National Bank of New York, Chatham Phenix National Bank and Trust Company |
| Board member of | General Motors |
| Spouse | Marie Julia Young |
He was born on November 13, 1870, in Marquette, Michigan, the son of Samuel Robert Kaufman and Juliet Adelaide Graveraet.[5] Louis was educated in Marquette, and worked as a bookkeeper at the Iron Bay Manufacturing Company for two years.[5] When he was 19, he became a messenger for the Marquette County Savings Bank.[1] In 1898, he became the cashier-manager of that bank, and in 1901, became the vice president of Marquette's First National Bank. In 1906, he was named president of First National.[1] By this time, Kaufman was associated with both the First National Bank and the Marquette County Savings Bank, and he was a director or officer for a number of other local mining, railroading, or insurance companies.[5]
In 1910, he became the president of Chatham National Bank of New York,[1] but only after receiving special dispensation allowing him to remain president of the First National Bank of Marquette.[2] The bank soon merged with Phenix National to form the Chatham Phenix National Bank and Trust Company.[3] This was the first of many mergers; by the time Kaufman retired in 1932, the bank had increased 50-fold in size.[4]
In addition, Kaufman was elected to General Motors's board of directors in 1910.[2] He had a major role in financing William C. Durant and his 1913 reorganization of Chevrolet and General Motors.[3] Kaufman remained on GM's board for 22 years and was chairman of their finance committee.[2]
In 1900, Kaufman married Marie Julia Young, daughter of Otto Young; the couple had five children.[1] His daughter Joan married George Drexel Biddle, son of financier and tennis player Craig Biddle.[6]
He built the estate Granot Loma.
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