Steve Murray was a principled executive, an investing genius, and a terrific dealmaker. He was one of the pioneers who oversaw the spun out of CCMP Capital from JP Morgan Partners. After serving as a junior employee and President of CCMP since 1989, Murray left his position in 2015 a month before his death. The company referred to his high profile exit as “health-related” reasons.
Stephen Murray’s impact in the society
The demise of Stephen Murray continues to shake many people, especially those who knew the roles he had played in redefining the corporate sector on fortune.com and making the world a better place. However, even after his death, his contributions to the business and philanthropy worlds are still noticeable. He was an active supporter and donor of Metro New York-based Make-A-Wish Foundation. His main intention was to ensure economically disadvantaged children could access quality education and become better persons in the society on Patch. Other beneficiaries of his philanthropic support include the Stamford Museum, Columbia Business School, and the Fairfield County-located Food Bank.
Steve Murray treasured education a lot and believed it had played a significant role in his success in both philanthropy and business arena. He leveraged his economic knowledge acquired from pursuing a degree in economics at the prominent Boston College to help his firm invest wisely and manage its finances. Murray was an alumnus of the Columbia Business School where he received a degree in the field of business administration.
Steve Murray started his business career by enrolling in the Manufacturers Hanover Corporation Training Program as a beginner in credit analysis. Later on, he became part of MH Equity Corporation that joined the private equity group of Manufacturers Hanover with its commercial unit. In 1991, Chemical Bank bought Manufacturers Hanover while MH Equity combined with Chemical Venture Partners. In 1996, Chase Manhattan Corporation combined with Chemical Bank while Chemical Venture Partners changed its name to Chase Capital Partners. In 2005, Stephen Murray ascended to the helm of JP Morgan Partners’ buyout business. In 2006, he led the separation CCMP Capital comprised of growth equity and buyout group from JP Morgan Chase. Murray became the CEO and President of CCMP in 2007.
Although CCMP Capital remorse his passing, the firm is equally happy with Steve Murray’s contributions, especially the development of an excellent portfolio. Under his leadership, the company created a broad base of loyal clients. The company can now handle complex transactions and oversee major buyouts thanks to the leadership and deal-making skills that Murray passed down to his employees.