David B. Stern
David B. Stern
Corporate Finance, Executive
David Stern, nephew of A.G. Becker, joined the firm directly after graduating from the Unversity of Chicago. The repartee between David and his uncle, Abraham, which took place in connection with David’s hiring in 1902, is described in the Chronicle. David Stern became active in the investment banking aspects of Becker’s operations establishing a close relationship with the Auto Strop Razor Company founded by Jacques Gaisman. Later, Gillette Razor, headed by Mr. King Gillette, acquired Auto Strop in which merger arrangements David Stern was involved and was a Gillette Director until 1957. Later Gaisman became Chairman of Gillette. David Stern was also purportedly involved in the early years (1921) of Cummins Engine as described in the Chronicle. David Stern retired as Chairman of A.G. Becker in 1954 and died in 1960.
Chicago Tribune, November 29, 1960. David B. Stern, 80, of 179 Lake Shore Drive, retired chairman of A.G. Becker & Co., investment firm at 120 S. La Salle street, died yesterday in his home. He joined the Becker company in 1902, became president in 1936, and served as chairman from 1947 until his retirement in 1954. Survivors include his widow, Clara E.; a son Carl W., two brothers; and four grandchildren. Later, in 1961, the Tribune reported that David Stern’s estate was valued at $3.25 million including a number of large common stock and bond positions and also listed were his beneficial gifts to persons and charities.