Henry B. R. Brown

Henry B. R. Brown

Henry Bedinger Rust "Harry" Brown (February 13 1926 – 11 August 2008) was an American financial consultant known for inventing the world's first money market fund, The Reserve Fund, with Bruce R. Bent in 1970.

Brown graduated from Harvard University, then worked for Chemical Bank in the early 1950s. In 1963 he joined Teachers Insurance and Annuity Association to manage their securities investments.

The money market fund was recognized by the American Museum of Financial History, an affiliate of the Smithsonian Institution, for its importance and impact on the nation's financial history. This innovation has developed an entire industry that is now worth more than $3.5 trillion, serving more than tens of millions of investors.

Brown died of an abdominal aneurysm in Leesburg, Virginia.Weber, Bruce (August 14, 2008). http://www.nytimes.com/2008/08/15/business/15brown.html Henry B. R. Brown, Who Opened Money Markets to Masses, Dies at 82.] "New York Times"]

References

External links

* [http://www.reservefunds.com/ The Reserve Fund]


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