John Chalsty

John Steele Chalsty, a visionary business leader, humanitarian, and former Chairman and Chief Executive Officer of Donaldson Lufkin & Jenrette, Inc., passed away peacefully at the age of 90 in his home. His death leaves a profound void in the worlds of finance, philanthropy, and global leadership.

Born in Port Elizabeth, South Africa, in 1933, John began his academic journey at the University of Witwatersrand in Johannesburg, earning multiple degrees in Chemistry and Physics. After receiving the Stanvac Scholarship in 1955, he traveled to the U.S. to study at Harvard University. In 1957, he earned his M.B.A. from Harvard Business School, graduating with high distinction as a Baker Scholar.

John's distinguished career began at Standard Oil of New Jersey (now Exxon), spanning 12 years in various roles in the U.S. and Europe. In 1969, he joined Donaldson, Lufkin & Jenrette (DLJ), rising through the ranks to become President and Chief Executive Officer in 1986 and Chairman in 1996. Under his leadership, DLJ transformed into one of America's most successful investment banks, boasting a global presence and over 11,000 employees. He was widely known for a collegial style that earned the respect and admiration of his employees and peers.

John also served in leadership roles with other prominent institutions, including Vice Chairman of the New York Stock Exchange, President of the New York Society of Security Analysts, and Board Member of Occidental Petroleum, Metromedia International Group, Inc., and Sappi Global.

His influence extended beyond the financial industry. In 1995, John was personally invited by Nelson Mandela to Robben Island, a testament to his global impact and humanitarianism. That same year, he served as Chairman of the New York City Host Committee for the 50th Anniversary of the United Nations, eventually becoming Chairman of the United Nations Association of the USA in 2001.

A dedicated philanthropist, John held prominent positions in organizations such as Lincoln Center Theater, American Ballet Theater, New York Philharmonic, Overcoming Obstacles, Teagle Foundation, New York City's Economic Development Corporation, Harvard Business School, Columbia University, and Saint Barnabas Medical Center. John’s many achievements and generosity were widely recognized, including with honorary doctorates from the University of Witwatersrand in 2005 and the Medical University of South Carolina in 2015.

John left an indelible mark on the world. His memory will be cherished by family, friends, and the individuals who had the great fortune of knowing him. He is survived by his wife Jill Siegal Chalsty; his daughters Susan Neely and her husband John Neely, and Deborah Chalsty; his grandchildren John Harrison Neely and his wife Jacqueline Neely, Meghan Bowman and her husband Stephen Bowman, and Timothy Neely; and his great-grandchildren Henry and Penelope.

In lieu of gifts please make a donation in John's honor to a charity of your choice.