Spencer Eccles
Encyclopedia
Spencer Fox Eccles is a prominent financier
and philanthropist
in Salt Lake City, Utah and chairman emeritus
of the Intermountain Region of Wells Fargo
Corporation. From 1982 to 2000 he was chairman and chief executive officer
of First Security Corporation
of Salt Lake City, which was, until its sale to Wells Fargo in 2000, the largest banking organization in the Mountain West
measured by assets, deposits and market capitalization.
, the Utah banker and industrialist. He earned a bachelor of science
in finance
in 1956 from the University of Utah
, where he was also a member of Beta Theta Pi
, and a master of business administration
in 1958 from Columbia University School of Business
.
In addition to his role at First Security, Eccles has also been a director
of the Union Pacific Railroad
, Intermountain Health Care, the Federal Reserve Bank of San Francisco
, the National Chamber of Commerce, the ZCMI Corporation, the Anderson Lumber Company, Amalgamated Sugar
, the Alta Ski Corporation, the U.S. Ski and Snowboard Association, and the National Parks Foundation. He was a member of the three person executive committee of the Salt Lake Olympic Organizing Committee and, in recognition of his critical contribution to the 2002 Olympic Games in Salt Lake, was appointed mayor
of the Olympic Village
during the games and received the Pierre de Coubertin medal
from the International Olympic Committee
, the Olympic movement's highest honor.
, the largest philanthropic foundation in Utah, president of the Eccles Family Foundation, which he founded, and of the Marriner S. Eccles Foundation, and trustee
of the Emma Eccles Jones Foundation and the Nora Eccles Harrison Foundation. Utah news organizations have identified Eccles as one of the handful of most influential people in the state, along with the Mormon prophet, the Governor, and Orrin Hatch
, the state's senior senator
.
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
and philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
in Salt Lake City, Utah and chairman emeritus
Emeritus
Emeritus is a post-positive adjective that is used to designate a retired professor, bishop, or other professional or as a title. The female equivalent emerita is also sometimes used.-History:...
of the Intermountain Region of Wells Fargo
Wells Fargo
Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
Corporation. From 1982 to 2000 he was chairman and chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of First Security Corporation
First Security Corporation
First Security Corporation was a multistate bank holding company in the western United States, primarily in Utah, Idaho, New Mexico, Oregon, Nevada, and Wyoming...
of Salt Lake City, which was, until its sale to Wells Fargo in 2000, the largest banking organization in the Mountain West
Mountain States
thumb|300px|Regional definitions vary from source to source. The states shown in dark red are always included, while the striped states are usually considered part of the same region called the Mountain States....
measured by assets, deposits and market capitalization.
Biography
Eccles is the son of Spencer Stoddard Eccles and Pauline Hope Fox and the grandson of David EcclesDavid Eccles (businessman)
David Eccles was an American businessman and industrialist who founded many businesses throughout the western United States and became Utah's first multimillionaire.-Biography:...
, the Utah banker and industrialist. He earned a bachelor of science
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
in finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
in 1956 from the University of Utah
University of Utah
The University of Utah, also known as the U or the U of U, is a public, coeducational research university in Salt Lake City, Utah, United States. The university was established in 1850 as the University of Deseret by the General Assembly of the provisional State of Deseret, making it Utah's oldest...
, where he was also a member of Beta Theta Pi
Beta Theta Pi
Beta Theta Pi , often just called Beta, is a social collegiate fraternity that was founded in 1839 at Miami University in Oxford, Ohio, USA, where it is part of the Miami Triad which includes Phi Delta Theta and Sigma Chi. It has over 138 active chapters and colonies in the United States and Canada...
, and a master of business administration
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
in 1958 from Columbia University School of Business
Columbia Business School
Columbia Business School is the business school of Columbia University in Manhattan, New York City. It was established in 1916 to provide business training and professional preparation for undergraduate and graduate Columbia University students...
.
In addition to his role at First Security, Eccles has also been a director
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 the Union Pacific Railroad
Union Pacific Railroad
The Union Pacific Railroad , headquartered in Omaha, Nebraska, is the largest railroad network in the United States. James R. Young is president, CEO and Chairman....
, Intermountain Health Care, the Federal Reserve Bank of San Francisco
Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states-—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington--plus the Northern Mariana Islands, American Samoa,...
, the National Chamber of Commerce, the ZCMI Corporation, the Anderson Lumber Company, Amalgamated Sugar
Amalgamated Sugar Company
The Amalgamated Sugar Company is a sugar beet refining company run on a cooperative basis. It was founded in 1897 in Logan, Utah, and is now located in Nampa, Idaho, United States. The company markets its sugar under the White Satin brand.-Founding:...
, the Alta Ski Corporation, the U.S. Ski and Snowboard Association, and the National Parks Foundation. He was a member of the three person executive committee of the Salt Lake Olympic Organizing Committee and, in recognition of his critical contribution to the 2002 Olympic Games in Salt Lake, was appointed mayor
Mayor
In many countries, a Mayor is the highest ranking officer in the municipal government of a town or a large urban city....
of the Olympic Village
Utah Olympic Park
The Utah Olympic Park is a winter sports park built for the 2002 Winter Olympics, and is located east of Salt Lake City near Park City, Utah, United States. During the 2002 games the park hosted the bobsleigh, skeleton, luge, ski jumping, and nordic combined events. It still serves a training...
during the games and received the Pierre de Coubertin medal
Pierre de Coubertin medal
The Pierre de Coubertin medal is a special medal given by the International Olympic Committee to those athletes who demonstrate the spirit of sportsmanship in Olympic events.The medal was inaugurated in 1964 and named in honour of Pierre de Coubertin, founder of the International Olympic...
from the International Olympic Committee
International Olympic Committee
The International Olympic Committee is an international corporation based in Lausanne, Switzerland, created by Pierre de Coubertin on 23 June 1894 with Demetrios Vikelas as its first president...
, the Olympic movement's highest honor.
Family
The Eccles family is noted for its philanthropy in the West, and Eccles is actively involved in many of the various Eccles family foundations, including as chairman of the George S. and Dolores Dore Eccles FoundationGeorge S. and Dolores Dore Eccles Foundation
The George S. and Dolores Dore Eccles Foundation is a non-profit foundation located in Salt Lake City, Utah that gives grants for projects and programs throughout Utah in the following areas: arts and culture, community, education, health care, and preservation and conservation.-History:The...
, the largest philanthropic foundation in Utah, president of the Eccles Family Foundation, which he founded, and of the Marriner S. Eccles Foundation, and trustee
Trustee
Trustee is a legal term which, in its broadest sense, can refer to any person who holds property, authority, or a position of trust or responsibility for the benefit of another...
of the Emma Eccles Jones Foundation and the Nora Eccles Harrison Foundation. Utah news organizations have identified Eccles as one of the handful of most influential people in the state, along with the Mormon prophet, the Governor, and Orrin Hatch
Orrin Hatch
Orrin Grant Hatch is the senior United States Senator for Utah and is a member of the Republican Party. Hatch served as the chairman or ranking member of the Senate Judiciary Committee from 1993 to 2005...
, the state's senior senator
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
.