John Jay Sherrerd, co-founder of investment firm Miller, Anderson & Sherrerd, died Wednesday in his Bryn Mawr, Pa., home; he had suffered from a brain tumor. He was 78.
Mr. Sherrerd helped found the West Conshohocken, Pa., investment management firm in 1969. The firm had $35 billion in assets under management when it was acquired by Morgan Stanley in 1996.
From the very beginning of the firm Jay was a raging optimist, whereas I was more cautious in predicting our future, wrote Paul F. Miller, another co-founder of Miller, Anderson & Sherrerd, in a personal essay written in remembrance of Mr. Sherrerd. We had no clients and minimal capital. Things broke our way and we were profitable before the year was over.
Mr. Miller also wrote, He was by far the most generous person I have ever known. At year-end bonus time he was always far above everyone at the table in his views of appropriate bonuses and raises. He never failed to push the rest of us to higher levels.
Mr. Sherrerd served on the board of his alma mater, Princeton University, for two 10-year terms as a charter trustee between 1979 and 2000, according to the universitys website.
He is survived by his son, Jay Sherrerd; his daughters, Anne and Susan Sherrerd; his sister, Eve Bogle; and six grandchildren. His wife, Kathleen Compton Sherrerd, passed away in 2005.
A memorial service will be at 10 a.m. EDT, April 19 at the Bryn Mawr Presbyterian Church, 629 Montgomery Ave., Bryn Mawr, Pa. Memorials can be made to the John J.F. Sherrerd Memorial Scholarship Fund, Gesu School, 1700 W. Thompson St., Philadelphia, PA 19121, or to Princeton Annual Giving, P.O. Box 5357, Princeton, NJ 08543.