Nicholas F. Brady facts for kids
Quick facts for kids
Nicholas F. Brady
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Official portrait of Brady as Secretary of the Treasury
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| 68th United States Secretary of the Treasury | |
| In office September 15, 1988 – January 17, 1993 |
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| President | Ronald Reagan George H. W. Bush |
| Preceded by | James Baker |
| Succeeded by | Lloyd Bentsen |
| United States Senator from New Jersey |
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| In office April 12, 1982 – December 27, 1982 |
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| Appointed by | Thomas Kean |
| Preceded by | Harrison A. Williams |
| Succeeded by | Frank Lautenberg |
| Personal details | |
| Born |
Nicholas Frederick Brady
April 11, 1930 New York City, New York, U.S. |
| Political party | Republican |
| Spouse |
Kitty Douglas
(m. 1952; died 2021) |
| Children | 4 |
| Education | Yale University (BA) Harvard University (MBA) |
| Signature |  |
Nicholas F. Brady, born on April 11, 1930, is an American banker and politician. He is from New Jersey. He briefly served as a United States Senator in 1982. Later, he became the 68th United States Secretary of the Treasury. He held this important role under Presidents Ronald Reagan and George H. W. Bush from 1988 to 1993. Brady is a member of the Republican Party.
In April 1982, he was chosen to be a U.S. Senator. He filled the rest of a term for another senator. He did not run for election to keep the seat. As of 2025, Brady is the last Republican to hold this specific Senate seat for New Jersey. He is also the oldest living former U.S. Senator.
As the U.S. Secretary of the Treasury, Brady created a new plan. This plan helped developing countries reduce their debt. It became famous as the Brady Bonds plan.
Contents
Early Life and Education
Brady was born in Manhattan, New York City, on April 11, 1930. His father, James Cox Brady Jr., was important in horse racing. His family had a history in business and industry.
He grew up on a large estate in Far Hills, New Jersey. After finishing St. Mark's School, he went to Yale University. He earned a Bachelor of Arts degree in 1952. In 1954, he received his Master of Business Administration from Harvard University.
Career in Business and Finance
Brady worked in the banking world for 34 years. He started at Dillon, Read & Co. in New York City in 1954. He became the chairman of the board in 1970.
Since 1994, he has been the Chairman of Darby Overseas Investments, Ltd. This company focuses on investments. He also chairs Franklin Templeton Investment Funds. He has served on the boards of several other companies. These include Hess Corporation, Holowesko Partners Ltd., and Weatherford International. He was also a director for NCR Voyix, the Mitre Corporation, and Heinz.
Serving as a U.S. Senator
Brady was involved in New Jersey politics. In 1981, he led the team for Thomas Kean. Kean had just been elected Governor of New Jersey.
In 1982, a U.S. Senate seat became empty. Senator Harrison A. Williams resigned. Governor Kean had to choose someone to fill the spot. Kean decided to appoint Nicholas Brady.
Brady served as a U.S. Senator from April 12, 1982, to December 27, 1982. During his time, he was part of important committees. These included the United States Senate Committee on Armed Services. He also served on the United States Senate Committee on Banking, Housing, and Urban Affairs. He resigned early so the newly elected senator could start sooner. This helped the new senator gain more seniority. In September 2024, he became the oldest living former U.S. senator.
Advisor to President Ronald Reagan
In 1984, President Reagan asked Brady to lead a commission. This group looked at salaries for government officials. Brady also served on several other important commissions for the President. These groups advised on topics like national security and economic aid. In 1987, he led a special task force. This group studied how financial markets work.
Secretary of the Treasury
Nicholas Brady became the 68th United States Secretary of the Treasury on September 15, 1988. He served during the last months of President Reagan's term. He continued in this role throughout President George H. W. Bush's entire presidency.
In 1989, many developing countries were struggling with their debts. Brady created a plan to help them. This plan allowed these countries to sell special bonds. These bonds were in U.S. dollars and became known as Brady Bonds. This plan helped many countries manage their finances better.
Early in his time as Treasury Secretary, some people thought he had a difficult start. However, he was a close friend and advisor to President Bush. This gave him a lot of influence. Many people, including politicians, praised him. They said he worked hard on important issues. He tried to find real solutions for big problems.
Brady has also been a trustee for Rockefeller University. He was a member of the Board of the Economic Club of New York. He is also a member of the Council on Foreign Relations. In 1977, he received the Golden Plate Award.
Personal Life
Nicholas Brady married Katherine Douglas in 1952. She was known as Kitty. They had four children and 13 grandchildren. Katherine Brady passed away on January 6, 2021.
While not as involved in horse racing as his father, Brady did serve as chairman of The Jockey Club for a time. His horse racing operation is known as Mill House (Stable).
See also
In Spanish: Nicholas F. Brady para niños
