We remember…
Our friend and mentor, George E. Stoddard, who passed away on Monday, March 30th at the age of 92.
Mr. Stoddard was a member of the board of W. P. Carey & Co. LLC and an active member and former chair of the Firm’s independent Investment Committee. Together with W. P. Carey Chairman Wm. Polk Carey, Mr. Stoddard pioneered the development of the sale-leaseback as a source of long term capital for corporations and a long term income generating investment for individual investors.
He joined W. P. Carey in 1979 after a 34 year career at the Equitable Life Assurance Society of the United States, where he headed the Direct Placement Department.
As head of W. P. Carey’s investment committee Mr. Stoddard drew on his decades of fixed income and credit analysis experience to establish the investment criteria that govern the Company’s international and domestic acquisitions of properties on behalf of its affiliated Corporate Property Associates investment programs. Under the investment policies implemented and overseen by Mr. Stoddard, W. P. Carey’s assets under management have grown to approximately $10 billion.
Mr. Stoddard graduated from Brigham Young University in 1937, received his MBA from Harvard in 1939 and earned his LLB from Fordham University in 1954.
In 1985 he established the Stoddard Scholar Award for students at the Brigham Young’s Marriott School of Business who have demonstrated exceptional academic performance and made significant contributions to the MBA finance program.
We will miss George greatly.
