John Biggs: Bringing Ethics From the Boardroom to Stern
by Suehyun Kim, suehyun.kim
Issue date: 2/8/05 Section: News
Mr. Biggs was originally asked to chair the PCAOB and received strong editorial support from the Wall Street Journal and the New York Times - one of the few times an amused Mr. Biggs said he'd received support from both. However, certain constituents in the accounting industry who feared the independent standards established at TIAA-CREF spreading to the rest of the industry opposed the nominations, and political influences in Washington D.C. thusly exerted themselves.
When asked about his personal politics, Mr. Biggs diplomatically said that he remains independent, citing that "when you're the CEO of a company, you don't want to run around publicizing your political views" and that establishing oneself as a politically influenced figure does not necessarily make one a stronger leader.
Mr. Biggs, is a Director of the Boeing Company, JP Morgan Chase Co., and a Director and former Chairman of the United Way of New York City and the National Bureau of Economic Research. He is a Trustee of the International Accounting Standards Committee Foundation, Washington University, The Danforth Foundation in St. Louis, The Santa Fe Opera, Chairman of the J. Paul Getty trust and Emeriti, a not-for-profit sponsor of post-retirement medical benefits for higher education. He is a member of the American Academy of Arts and Sciences and the Council on Foreign Relations, a Treasurer of the New York City Investment Fund and a fellow of the Society of Actuaries.
Mr. Biggs is a native of St. Louis who earned an A.B. degree in classics from Harvard University, studying Greek. Mr. Biggs began his professional career with the General American Life Insurance Company in 1958. He served in various actuarial management positions for the company and in 1970 was appointed Vice President and Controller. In the 1970's, he returned to Washington University in St. Louis to pursue a PhD in Economics, where he later became Vice Chancellor for Administration and Finance. He was named President and CEO of Centerre Trust Company, St. Louis, in 1985.
When asked about what guidance or advice he has for Stern students and other leaders of tomorrow, he responded with several points encouraging students to be prepared to make difficult decisions. Prepare by educating oneself of the actions of past leaders, expanding one's exposure to cultural differences to better understand people and honing one's ability to think independently. He urges us to read great literature of the world, be it Thucydides or modern literature, and go to plays and read newspapers. In his words, "Issues become more difficult the higher you get", and the fewer people there are around you to tell you whether you are doing right or wrong. As an individual, you must set and understand limits for yourself before you are faced with situations in which you are challenged to make decisions that test them.
When asked about his personal politics, Mr. Biggs diplomatically said that he remains independent, citing that "when you're the CEO of a company, you don't want to run around publicizing your political views" and that establishing oneself as a politically influenced figure does not necessarily make one a stronger leader.
Mr. Biggs, is a Director of the Boeing Company, JP Morgan Chase Co., and a Director and former Chairman of the United Way of New York City and the National Bureau of Economic Research. He is a Trustee of the International Accounting Standards Committee Foundation, Washington University, The Danforth Foundation in St. Louis, The Santa Fe Opera, Chairman of the J. Paul Getty trust and Emeriti, a not-for-profit sponsor of post-retirement medical benefits for higher education. He is a member of the American Academy of Arts and Sciences and the Council on Foreign Relations, a Treasurer of the New York City Investment Fund and a fellow of the Society of Actuaries.
Mr. Biggs is a native of St. Louis who earned an A.B. degree in classics from Harvard University, studying Greek. Mr. Biggs began his professional career with the General American Life Insurance Company in 1958. He served in various actuarial management positions for the company and in 1970 was appointed Vice President and Controller. In the 1970's, he returned to Washington University in St. Louis to pursue a PhD in Economics, where he later became Vice Chancellor for Administration and Finance. He was named President and CEO of Centerre Trust Company, St. Louis, in 1985.
When asked about what guidance or advice he has for Stern students and other leaders of tomorrow, he responded with several points encouraging students to be prepared to make difficult decisions. Prepare by educating oneself of the actions of past leaders, expanding one's exposure to cultural differences to better understand people and honing one's ability to think independently. He urges us to read great literature of the world, be it Thucydides or modern literature, and go to plays and read newspapers. In his words, "Issues become more difficult the higher you get", and the fewer people there are around you to tell you whether you are doing right or wrong. As an individual, you must set and understand limits for yourself before you are faced with situations in which you are challenged to make decisions that test them.