John Orb, former chief executive officer of Smith Barney and a pioneer in retail sales and investment banking, died in San Francisco on Saturday, June 26, 2010, surrounded by friends and family. He was 91.
He died after a long illness, his family said.
Mr. Orb was born in Chicago on Feb. 9, 1919. The following year after his father died, his mother and he relocated to San Antonio, Texas, where he was reared. When Mr. Orb was 13, they moved across the Atlantic to Europe. Mr. Orb returned to the United States to attend The Taft School, a private boarding school in Watertown, Conn., and a pivotal experience in his life. After graduating, he attended Yale University, where he earned his degree in 1941.
Following his academic career, Mr. Orb enrolled in the Army Air Corps' flying program. In 1942, he was commissioned as a second lieutenant in the Army Air Forces and earned his wings. During World War II, Mr. Orb rose to the rank of lieutenant colonel and was awarded the Distinguished Flying Cross for his bravery leading a formation of B-26 fighter planes suffering intense anti-aircraft fire to demolish a bridge near Roccasecca, Italy. He distinguished himself through his aggressiveness, superior tactical skill, leadership and bravery to precisely destroy a target that had withstood a number of previous assaults.
After the war, Mr. Orb returned to his native Chicago. He became an account executive at Merrill Lynch, Pierce, Fenner and Smith where he established the Chicago office and rose to become manager and group vice-president. In 1968, he transferred to the New York office where he eventually became executive vice-president and director. Mr. Orb was responsible for the sales, investment banking and marketing divisions. His management style was honed in the partnership phase of Merrill where he learned the art of sharing responsibilities and being held accountable for results. He retired in 1974.
Mr. Orb came out of retirement to join Smith Barney, the investment banking and brokerage firm and the principal subsidiary of the holding company Smith Barney Inc., in 1975 as executive vice president and a director.
He was elected president and chief operating officer in 1977. In 1982, Mr. Orb served as chief executive officer of both Smith Barney Inc. and Smith Barney, Harris Upham—the 12th senior partner or chief executive in the firm's 114-year history. In 1983, he became chairman of both companies.
Mr. Orb entered Smith Barney during a crucial period in the company's long history when the firm sought to add a retail brokerage structure to its primarily institutional brokerage business.
Through the years, Mr. Orb instrumented the firm's expansion to a full-service organization by building its product line and marketing efforts. He pioneered a new era with the well-known marketing campaign, "Smith Barney makes money the old-fashioned way. We earn it," which became renowned in marketing and advertising history. John's talent, belief and persistence altered the course of the firm as it entered a new era of retail sales and investment banking.
Mr. Orb's support of The Taft School spanned eight decades as a student, father, grandfather, volunteer and trustee. Mr. Orb attributed much of his success to his experience at The Taft School. The school acknowledged his years of contribution with a Citation of Merit in May 2010.
Mr. Orb also served on the board of trustees of Outward Bound, as president of the Bond Club of New York and as a supporter of The Isabel O'Neil Studio in New York.
In his later years, Mr. Orb found time to enjoy his favorite pursuits, including fly-fishing, hunting, golf and travelling.
Mr. Orb is survived by his beloved wife, Susan C. Orb, of Sun Valley, Idaho. He is pre-deceased by his former wives, Elizabeth Nevins Orb, Jean "Teel" Tennant Orb and Phyllis McKee Orb; and by three of his children, Joan Orb Garrison, Thomas Derek Tennant and John Chadwell Tennant.
His loss impacts his entire family including his children from his first marriage, Linda Orb Drake and John Alexander Orb IV; the members of his second family, Julie Tennant Sargent, Tracy Tennant Isham and A. Foster Tennant; the extended family of his third marriage, Charlotte McKee Worcester, Catherine McKee Donovan, Joseph Vincent McKee and Charles Russell McKee; and by the members of his later family, George Robert Carter IV and Anne Strong Carter. Mr. Orb is survived by 22 grandchildren and nine great-grandchildren.
John's strong moral integrity and his inherent optimism contributed to an abundant family, numerous friends and admiring colleagues, all of whom will greatly miss him.
A memorial service is planned for fall in Sun Valley, details to be announced at a later date. In lieu of flowers, donations in Mr. Orb's honor can be made to The John A. Orb Merit Scholarship Fund, The Taft School, 110 Woodbury Rd., Watertown, CT 06795-2100; Outward Bound, Box 62121, Baltimore, MD 21264-2161; or The Isabel O'Neil Studio, 315 E. 91st St., 2nd Floor, New York, NY 10128-5301.
