Robert C. McCormack
Encyclopedia
Robert C. McCormack was United States Deputy Assistant Secretary of Defense for Production Support from 1987 to 1988; Deputy Under Secretary of Defense for Industrial and International Programs from 1988 to 1990; and Assistant Secretary of the Navy (Financial Management and Comptroller)
from 1990 to 1993.
, receiving a B.A.
in 1962. After graduating from college, McCormack joined the United States Navy
and served in the Navy from 1962 to 1966. After leaving the Navy, McCormack matriculated at the University of Chicago Graduate School of Business and received an M.B.A. in 1968.
McCormack joined Dillon, Read & Co.
in 1968, working there until 1981, by which time he had attained the rank of senior vice president. At Dillon, Read, McCormack worked in corporate finance
in the New York and Chicago
offices. In 1981, he left Dillon, Read for Morgan Stanley
, becoming a managing director.
McCormack entered government service in 1987, when he joined the United States Department of Defense
as Deputy Assistant Secretary of Defense for Production Support. In 1988, he became Deputy Under Secretary of Defense for Industrial and International Programs. He was awarded the Distinguished Civilian Service Medal in 1989.
On October 10, 1989, President of the United States
George H. W. Bush
nominated McCormack as Assistant Secretary of the Navy (Financial Management and Comptroller)
. McCormack subsequently held this office from January 12, 1990 until January 5, 1993. In a 2001 letter supporting McCormack's nomination for an alumni award from the University of Chicago Graduate School of Business, Dick Cheney
, who was United States Secretary of Defense
while McCormack was Assistant Secretary of the Navy (Financial Management), praised McCormack's performance, writing: "The challenge was to find ways to maintain America's superior naval presence at a time when resources were at a premium. Bob McCormack used all his entrepreneurial skills to successfully meet that challenge...Not everyone can move so gracefully between the private and public sectors."
Upon leaving government service, McCormack was a co-founder of Trident Capital, a venture capital firm. He served as a Managing Director of Trident Capital until 2005, when he assumed the role as Advisory Director to the General Partner
. At Trident, McCormack oversaw the early financing of MapQuest
. Under McCormack's guidance, Trident also made investments in CSG Systems, which would become the largest cable-television billing service in the United States.
McCormack has served as a member of the Board of Directors
of numerous firms, including DeVry, Inc.
, Illinois Tool Works
, MeadWestvaco
, Northern Trust
, MapQuest
, and PGi
.
Assistant Secretary of the Navy (Financial Management and Comptroller)
The Assistant Secretary of the Navy is a civilian office of the United States Department of the Navy...
from 1990 to 1993.
Biography
Robert C. McCormack was born in New York City on November 7, 1939. He was educated at the University of North CarolinaUniversity of North Carolina
Chartered in 1789, the University of North Carolina was one of the first public universities in the United States and the only one to graduate students in the eighteenth century...
, receiving a B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in 1962. After graduating from college, McCormack joined the United States Navy
United States Navy
The United States Navy is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States. The U.S. Navy is the largest in the world; its battle fleet tonnage is greater than that of the next 13 largest navies combined. The U.S...
and served in the Navy from 1962 to 1966. After leaving the Navy, McCormack matriculated at the University of Chicago Graduate School of Business and received an M.B.A. in 1968.
McCormack joined Dillon, Read & Co.
Dillon, Read & Co.
Dillon, Read & Co. was a prominent American investment bank from the 1920s into the 1960s.-Origins:Dillon Read traces its roots to 1832 with the founding of the Wall Street brokerage firm Carpenter & Vermilye. This firm was succeeded by Read & Company in which chief principal was William A. Read. ...
in 1968, working there until 1981, by which time he had attained the rank of senior vice president. At Dillon, Read, McCormack worked in corporate finance
Corporate finance
Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize shareholder value while managing the firm's financial risks...
in the New York and Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
offices. In 1981, he left Dillon, Read for Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
, becoming a managing director.
McCormack entered government service in 1987, when he joined the United States Department of Defense
United States Department of Defense
The United States Department of Defense is the U.S...
as Deputy Assistant Secretary of Defense for Production Support. In 1988, he became Deputy Under Secretary of Defense for Industrial and International Programs. He was awarded the Distinguished Civilian Service Medal in 1989.
On October 10, 1989, President of the United States
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
George H. W. Bush
George H. W. Bush
George Herbert Walker Bush is an American politician who served as the 41st President of the United States . He had previously served as the 43rd Vice President of the United States , a congressman, an ambassador, and Director of Central Intelligence.Bush was born in Milton, Massachusetts, to...
nominated McCormack as Assistant Secretary of the Navy (Financial Management and Comptroller)
Assistant Secretary of the Navy (Financial Management and Comptroller)
The Assistant Secretary of the Navy is a civilian office of the United States Department of the Navy...
. McCormack subsequently held this office from January 12, 1990 until January 5, 1993. In a 2001 letter supporting McCormack's nomination for an alumni award from the University of Chicago Graduate School of Business, Dick Cheney
Dick Cheney
Richard Bruce "Dick" Cheney served as the 46th Vice President of the United States , under George W. Bush....
, who was United States Secretary of Defense
United States Secretary of Defense
The Secretary of Defense is the head and chief executive officer of the Department of Defense of the United States of America. This position corresponds to what is generally known as a Defense Minister in other countries...
while McCormack was Assistant Secretary of the Navy (Financial Management), praised McCormack's performance, writing: "The challenge was to find ways to maintain America's superior naval presence at a time when resources were at a premium. Bob McCormack used all his entrepreneurial skills to successfully meet that challenge...Not everyone can move so gracefully between the private and public sectors."
Upon leaving government service, McCormack was a co-founder of Trident Capital, a venture capital firm. He served as a Managing Director of Trident Capital until 2005, when he assumed the role as Advisory Director to the General Partner
General partner
General partner is a legal term used to describe a person who joins with at least one other person to form a business. A general partner has responsibility for the actions of the business, can legally bind the business and is personally liable for all the business's debts and obligations.General...
. At Trident, McCormack oversaw the early financing of MapQuest
MapQuest
MapQuest is an American free online web mapping service owned by AOL. The company was founded in 1967 as Cartographic Services, a division of R.R. Donnelley & Sons in Chicago, Illinois, United States. It moved to Lancaster, Pennsylvania in 1969. When it became an independent company in 1994, it was...
. Under McCormack's guidance, Trident also made investments in CSG Systems, which would become the largest cable-television billing service in the United States.
McCormack has served as a member of the Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of numerous firms, including DeVry, Inc.
DeVry, Inc.
DeVry Inc. is a United States corporation based in Downers Grove, Illinois, that operates several for-profit higher education institutions, including Advanced Academics, Becker Professional Education, Carrington Colleges Group, Chamberlain College of Nursing, DeVry Brasil, DeVry University and Ross...
, Illinois Tool Works
Illinois Tool Works
Illinois Tool Works Inc. or ITW is a Fortune 200 company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It was founded in 1912 by Byron L...
, MeadWestvaco
MeadWestvaco
MeadWestvaco Corp. is an American packaging solutions company based in Richmond, Virginia. It has approximately 23,000 employees. In February 2006, it moved its corporate headquarters to Richmond, Virginia...
, Northern Trust
Northern Trust
Northern Trust Corporation is an international financial services company headquartered in Chicago, Illinois, USA. It provides investment management, asset and fund administration, fiduciary and banking services through a network of 85 offices in 18 U.S. states and 12 international offices in North...
, MapQuest
MapQuest
MapQuest is an American free online web mapping service owned by AOL. The company was founded in 1967 as Cartographic Services, a division of R.R. Donnelley & Sons in Chicago, Illinois, United States. It moved to Lancaster, Pennsylvania in 1969. When it became an independent company in 1994, it was...
, and PGi
PGi
PGi, or Premiere Global Services, Inc., is a multinational corporation and global provider of conferencing and collaboration solutions. Its products include audio conferencing, web conferencing, videoconferencing and virtual meeting solutions...
.