Not many college presidents are as well situated as Erskine Bowles, former White House chief of staff and a director of Morgan Stanley.
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According to a filing yesterday with the SEC, Bowles, who is president of the University of North Carolina, holds nearly 25,000 shares of Morgan Stanley. Although the stock has been sliding in recent months, his stake was valued midday today at $1.1 million.
Documents filed earlier this year show that Bowles holds an additional $460,000 worth of stock in General Motors and Cousins Properties Inc.
His wife, Crandall C. Bowles, is the former chair & CEO of Springs Industries textile firm and a director of JP Morgan Chase and Deere. Documents she filed this month show she has more than $650,000 worth of stock in the two public companies.
Bowles came to academia after a career in business. He began as an associate at Morgan Stanley, then returned to his native North Carolina, where he founded the investment banking firm that became Bowles Hollowell Connor & Co. He also founded the VC firm Kitty Hawk Capital and the private equity company Carousel Capital.
After serving with the Clinton administration, first as director of the Small Business Administration and later as White House chief of staff, he worked as a general partner of Forstmann Little. Bowles ran twice for U.S. Senate, in 2002 and 2004.
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