William Sherrill became a member of the Board of Governors of the Federal Reserve System on May 1, 1967. He was reappointed in 1968 and served until his resignation on November 15, 1971.
Sherrill was born in Houston, Texas. In 1941, at the age of fifteen, he enlisted in the US Marine Corps. He served throughout World War II and was wounded in action on Iwo Jima.
In 1946, Sherrill entered the University of Houston, where he received his bachelor’s degree in business administration with honors in 1950. While attending college, he was employed by Southwestern Bell Telephone Company, where he became commercial department manager. In 1950, Sherrill began postgraduate studies at the Harvard Graduate School of Business Administration. Two years later, he received a master’s degree in business administration, with distinction in finance.
In 1954, Sherrill entered public service. He worked for the city of Houston as chief administrative officer, executive assistant to the mayor, and city treasurer. His business career included experience in both banking and real estate. He served as president of the Homestead Bank of Houston and as vice president of the Colonial Savings Association of Houston. In the latter capacity, he was chairman of the association's executive committee and a member of the loan committee. Sherrill was also executive vice president of the Jamaica Corp., a Houston real estate development firm. He served as a member of the board of directors of the Federal Deposit Insurance Corporation at the time of his appointment to the Board of Governors.
After leaving the Federal Reserve, Sherrill held various roles in large and small corporations. He was president of Associates Corporation of North America (1971-74), aninternational financial services company, and a member of Gulf and Western’s board of directors (1971–74). His experience with smaller companies included roles as chairman, president, and chief executive officer of Dasa Corporation, a telephonics and electronics company with international offices and distribution. From 1974 to 1981, Sherrill also owned his own financial consulting business, assisting corporations that were structuring acquisitions, mergers, and spin-offs.
Sherrill has been an executive professor at the University of Houston's Bauer College of Business Administration since September 1990. He is also an adjunct professor at the Cullen College of Engineering. He has been chairman of the Center for Entrepreneurship and Innovation, which he founded, at the University of Houston's Bauer College of Business Administration since September 1993. He has also served the University's Alumni Association as treasurer and director. The University of Houston honored him with the Outstanding Alumnus Award in 1955, only five years after graduation.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.