×

John Gutfreund, Wall Street legend, dies at 86: WSJ

John Gutfreund, renowned in the world of finance, died Wednesday at age 86, The Wall Street Journal reported.

Gutfreund made his name in the Treasury securities market at Salomon Brothers, making big wagers to grow the firm to a dominant force and eventually taking the company public, the Journal said.

Gutfreund was known as "The King of Wall Street," and his dapper "cigar chomping" antics were immortalized in the magazines like "Business Week" and the book "Liar's Poker," the Journal notes.

Gutfreund's career was not clear of scandals, including charges of an illegal Treasury bid and reported run-ins with Michael Bloomberg. But the Journal also describes a softer side to the business man, who enjoyed Tony Bennett songs and strove to be "honorable in dealing with customers."

The full report can be found at The Wall Street Journal.