John M. Murphy Jr.

John Moylan Murphy, Jr., age 82, of Boca Grande, Florida, died on January 26, 2024, after a long journey with cancer. He was born in Detroit, Michigan on December 3, 1941, to Rosemary Ryan Murphy and Dr. John Moylan Murphy, Sr. He was a graduate of Regis University in Denver, Colorado and, after serving in the U.S. Army, started his career in wealth management and portfolio management in Minneapolis, Minnesota. John was the longtime chief investment officer of First Asset Management, which later became U.S. Bancorp Asset Management, and later served that same role for U.S. Bank Trust, National Association and U.S. Bancorp Institutional Financial Services. After leaving U.S. Bank, John was the founder of Somerset Asset Management, later known as Somerset Group, a private wealth management firm.

John cared deeply for his home communities of the Twin Cities and Boca Grande, and devoted much of his time to volunteer efforts, particularly in the area of health care. He served on the boards of Blue Cross and Blue Shield of Minnesota, Children’s Hospital of St. Paul, HealthOne, the University of Minnesota Investment Endowment, the Minnesota Medical Foundation, the Boca Grande Health Clinic Foundation and the Boca Grande Health Clinic.

John’s wit, integrity and generosity will be remembered by all who knew and loved him. Likewise, he will be remembered for his ultimately futile quest to find the perfect golf swing, his skill casting a 6-weight fly rod on Hemlock Lake, Wisconsin, his ability to fall asleep while reading the latest bestselling thriller, and his sharing the latest about his family, who he loved above all else.

John is survived by his wife, Hebe Dowling Murphy; children John Murphy, Ellen Murphy and David Murphy (Anne); stepchildren Meaghan Chorske (Mike), John Dowling (Laura) and Peter Dowling (Deb); grandchildren Ellie and Sam Murphy, Jack and Kate Chorske, and George and Sally Dowling; and many other loving family members and friends. John is predeceased by his first wife of 40 years, Judy Murphy, and by his two sisters, Margie Kelly and Anne Murphy.

A private family memorial will be held at a later date. Memorial donations may be made to the Boca Grande Health Clinic Foundation (www.bghcfoundation.com)