When a notable figure passes away, it typically affects many people around them. That is no different with the legendary Stephen Murray. He was the CEO and founder CCMP Capital, a large New York investment firm that was part of the JP Morgan family. He had some health issues recently, before his passing. These caused him to step down, and soon after he was found dead. A PR person confirmed that he had died but refused to release any further details about the matter.
His coworkers and family members were asked for comment and they expressed their sympathy and shock. He was seen as a tiger in the field of finance. The company he founded, CCMP, was bought out by JPMorgan Chase not one, but twice until 2006 when he split off to form his own company again in order to protect the interests of conflicting client needs. Learn more about Stephen Murray CCMP Capital: http://www.wsj.com/articles/ccmp-capital-advisors-gets-backing-to-resume-investing-from-fund-1430946145
He built it from scratch, which carries a unique story with it. In fact, he managed to acquire $3.6 billion in investments through the firm alone last year. They average around $200 million to $400 million per transaction when they invest.
But just because Murray finished at the top, doesn’t mean he started there. He was a bootstrapping young professional when he got out. He had to work his way up. He graduated Boston College in 1984, where he earned his BA.
Then Stephen Murray went to New York and attended Columbia University to get a Master of Business Administration (MBA). Business was also his primary focus and passion. Stephen Murray paid the dues necessary to move up and eventually become the vice president of the industrial manufacturing company he worked for. He started out as a lowly intern there.
Murray wanted to keep growing the company, so he formed CCMP Capital. They specialized in middle-market financial investment vehicles, which they still do today. This was interesting to larger institutions who wanted to diversity their investments. This led to a number of mergers, eventually ending up with JPMorgan buying the company and keeping Stephen on to run it.
It’s not every day you hear such an inspiring story as that of Stephen Murray. It’s hard to believe in today’s world that some kid from a suburb outside of New York (Westchester County) could still make it big without a leg up. However, Stephen will always be remembered by his loving family – Tami (his wife) and their four boys – and his colleagues who understand how hard he had to work to achieve such great success in finance.
CCMP’s Murray dead at 52