John P. LaWare joined the Board of Governors of the Federal Reserve System on August 15, 1988. He left the position on April 30, 1995.
LaWare was born in 1928, in Columbus, Wisconsin. He earned a bachelor’s degree in biology from Harvard University in 1950 and a master’s degree in political science from the University of Pennsylvania in 1951.
After two years of service with the US Air Force, LaWare accepted a position with Chemical Bank & Trust Co. in New York in 1953. He remained at Chemical Bank for twenty-five years. During that time, he served in several capacities at the company, including assistant secretary, assistant vice president, vice president, and senior vice president. He eventually assumed responsibilities for organizing the holding company’s operations as well as running the marketing division.
In 1978, LaWare was appointed president of Shawmut Corporation and the Shawmut Bank of Boston. In 1980, he was tapped to become chairman and chief executive officer of both businesses. After Shawmut Corporation and Hartford National Corporation merged in 1988, LaWare was elevated to the position of chairman and director of the newly formed super-regional bank holding company.
During this period, LaWare served as a director of the Federal Reserve Bank of Boston. He was also chairman and director of the Massachusetts Business Roundtable and chairman and member of the Coordinating Committee, an organization of Boston business leaders.
In July 1988, President Ronald Reagan nominated LaWare to serve on the Board of Governors. During his time at the Board, LaWare gave several noteworthy speeches, including "Things to Come: Financial Integration," "Setting the Global Scene: A Global Credit Crunch?" and "Banking's Role in Business-Community Partnerships."
After leaving the Board of Governors, LaWare became an advisory director for Stewart Information Services Corp. in 1995 and was elected to the corporation’s board of directors in December 2001.
Throughout his life, LaWare was active in a number of private- and public-sector organizations. He was chairman of the board of trustees of the Children’s Hospital in Boston, chairman of the Massachusetts Banker Association, director of the Executive Council of the American Red Cross of Massachusetts Bay, and director of Jobs for Massachusetts. He also served as a trustee and member of the finance committee of Mount Holyoke College, vice chairman and trustee of Northeastern University, chairman of the United Way of Massachusetts Bay, director of Liberty Mutual Insurance Company, and a trustee of Travelers Real Estate Investors Trust.
LaWare’s honors and awards include honorary doctorates from Suffolk University and Northeastern University; Distinguished Citizen, Minuteman Council, Boy Scouts of America; CEO of the Year, Northeastern University, College of Business; and Outstanding Citizen, B’nai B’rith Anti-Defamation League.
LaWare died in 2004.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.