Martin G. McGuinn

Former Mellon Bank CEO, philanthropist and major Pittsburgh civic leader Martin G. McGuinn passed away peacefully May 18 at his home in Pittsburgh, after a brief illness. “Marty” was born to Rita Horgan McGuinn and Martin G. McGuinn on Sept. 9, 1942 in Philadelphia, the oldest of his parents’ four children. His family was of Irish descent on both sides. Though he lived early in Philadelphia and Hershey, he considered Princeton, NJ to be his hometown. He graduated from Princeton High School (then ranked in the top 10 U.S. public high schools), where he ran sprints and the quarter mile in track, started on the varsity basketball team and was starting catcher on the 1960 state champion baseball team. He went on to Villanova University, where he was elected President of the sophomore class and, as a senior, President of Student Council. In 1962, he enlisted in the Marine Corps. He was commissioned a second lieutenant and then deferred to go to Villanova Law School, where he became editor of the law review. After graduation, at the height of the Vietnam War in 1968, he arrived in Vietnam, outside of Danang, where he spent 13 months active duty, serving as a lawyer and then chief trial counsel, assigning cases and making decisions for the 15 lawyers of the First Marine Division, one of two divisions in Vietnam. Marty revered the Marines and considered the Marine Corps to be one of the most elite organizations in the world. His first job after the Marines came in 1970 with the famous white shoe New York law firm Sullivan & Cromwell, falling accidentally into corporate legal work – securities, acquisitions, and bank financing and mergers. The six and a half years there would set the direction of his career. In 1977, he started at the Singer Company at 30 Rockefeller Plaza, just below the “Top of the Rock.” He spent three years there as Managing Counsel, Consumer Products before coming to Pittsburgh and joining Mellon Bank in 1981. He became Mellon’s General Counsel and set about hiring lawyers and creating an in-house law firm to do the corporation’s legal business, rather than relying largely on outside counsel. Ultimately Mellon had more than 120 lawyers. A key part of his role came in helping Mellon CEO Frank Cahouet navigate a crisis in 1987 that helped Mellon avoid bankruptcy. In 1989, he became a vice chairman and over a few years became responsible for leading a series of bank operations: real estate lending, mortgage servicing, cash management and finally, retail banking. He instituted sweeping changes designed to make retail banking more customer friendly, responsive and flexible. In 1998, Marty became Chairman and CEO of Mellon Bank. Immediately, he changed the name to Mellon Financial Corporation, signifying the change from a traditional bank into faster growing businesses such as asset management and asset servicing – and ultimately out of retail. He also emphasized changing Mellon’s internal culture to improve morale. He retired in January of 2006. In retirement, he was a voracious reader, avid golfer, wine enthusiast and world traveler. He delighted in spending time with his wife, children and grandchildren on the beaches of Quogue, NY and Palm Beach, FL. He was a devoted longtime friend to many people and had an unparalleled spirit of generosity. McGuinn was a past board member of several public companies: General Reinsurance, Chubb, Igate, Celanese and MasterCard International and MasterCard USA (Chairman). He chaired the Allegheny Conference on Community Development. He was a multi-decade board member and benefactor of the Heinz History Center, the Carnegie Museums (past chair of the Museum of Art), UPMC, and the Pittsburgh Promise. He co-chaired a capital campaign for the Children’s Institute and was very involved in the Pittsburgh Public Schools and the Pittsburgh Regional Healthcare Initiative. He was a past Chairman of The Financial Services Roundtable, and President of the Federal Reserve Advisory Board. He was a major benefactor of the Catholic Diocese of Pittsburgh, the Pittsburgh Symphony Orchestra, and the U.S. Marine Corps Scholarship Fund, as well as Villanova University, where he established the McGuinn Irish Scholars and is the namesake of McGuinn Hall, a residence hall on the school’s campus. He received an Honorary Doctorate from Villanova in 2013. In Pittsburgh, he was a member of The Pittsburgh Golf Club, Fox Chapel Golf Club, The Rolling Rock Club, and The Duquesne Club. He is survived by his wife Susan McGuinn, his sons Patrick (Ilana) and Christopher (Kara), his step-daughter Caroline, and his grandchildren Bailey, Carigan, Haven, Payton, Maggie and Hazel. In memory of Marty, donations may be made to the U.S. Marine Corps Scholarship Fund at https://www.mcsf.org. Services will be private. Arrangements by John A. Freyvogel Sons, Inc. (freyvogelfuneralhome.com)

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