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He had “an imposing physical presence”, was described as “incredibly generous, humble and unpretentious,” with a “dry wit”.

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He was also honoured by the Citizens Committee for New York City and by the President's Medal for Excellence awarded by Boston College to individuals who have distinguished themselves through personal of professional achievements which exemplify the ideal proclaimed in the University's motto, “Ever to Excel”. He received the Ellis Island Foundation's Medal of Honor. The Chalsty name is proudly emblazoned on one of the outstanding meeting spaces on West Campus, associated with the Mandela Institute and the School of Law, because of his pivotal and founding donation to the Institute.Ĭhalsty’s many achievements and generosity were widely recognised, including with honorary doctorates from Wits in 2005 and the Medical University of South Carolina in 2015. (the Wits Fund) in the United States, an entity that continues to be of vital importance to the University. He helped to establish the University of the Witwatersrand Inc. He did not forget his beginnings and remained a supporter of South Africa. The fellowship is used to support black South African MBA students. When he stepped down as CEO of DLJ his colleagues commemorated his nearly thirty years of distinguished service to the firm by establishing the John S and Jennifer A Chalsty Fellowship at the Harvard Business School. In 1995 he was chairman of the New York Host Committee for the 50th anniversary of the United Nations.Ī dedicated philanthropist, Chalsty held prominent positions in organisations such as Lincoln Center Theater, American Ballet Theater, New York Philharmonic, Overcoming Obstacles, Teagle Foundation, New York City's Economic Development Corporation, Harvard Business School, Columbia University, and Saint Barnabas Medical Center. “The remarkable thing about this man was that he was undoubtedly one of the most saintly figures I’ve ever seen, but at the same time he was an extremely able politician.” “I met him at a luncheon in New York City.” The encounter was brief and mostly at a distance, but it revealed Mandela’s practical side, Chalsty said. Mandela was worried about fraud and wanted to ensure the election was administered fairly.

“He had come to the United States trying to enlist people to go to South Africa and watch the polls,” Chalsty said. In 1992, he met Nelson Mandela, two years after his release from prison. He was widely known for a collegial style that earned the respect and admiration of his employees and peers.Ĭhalsty also served in leadership roles with other prominent institutions, including vice chairman of the New York Stock Exchange, president of the New York Society of Security Analysts, and board member of Occidental Petroleum, Metromedia International Group, Inc, and Sappi Global. Under his leadership, DLJ transformed into one of America's most successful investment banks. In 1969 he joined Donaldson, Lufkin & Jenrette (DLJ) as an oil analyst, rising through the ranks to become president and chief executive in 1986 and chairman in 1996. He worked at Standard Oil of New Jersey (now Exxon) for around 12 years in various roles in the US and Europe. In 1957, he earned his MBA from Harvard Business School, graduating with high distinction as a Baker Scholar. I found I had somehow stumbled into the right career.' I looked around for something to do and discovered the business school. Another four years of chemistry was appalling.

'I heard I would have to start all over again. In a 2007 interview he said: “I had turned in work at Wits on a PhD in chemistry and thought I could pick it up at Harvard,' he recalls. After receiving the Stanvac Scholarship in 1955, he travelled to the US to study at Harvard University. In 1954 the team beat Pretoria University 12-0. He is remembered for his sporting prowess as a member of the Wits Rugby First XV. John Steele Chalsty (BSc 1953, BSc Hons 1954, MSc 1955, DCom honoris causa 2005) business leader, former chairman and chief executive officer of Donaldson Lufkin & Jenrette Inc and founder of the Wits Fund in the US, passed away peacefully at the age of 90 in his home on 12 November 2023.Ĭhalsty was born in 1933 and began his academic journey at Wits, completing honours and master’s degree in chemistry and physics. In Memoriam 2023 John Steele Chalsty (1933-2023)