Category Archives: Manufacturers Hanover Corporation

Stephen Murray: A Giant in Finance and Philanthropy

He merged finance companies, dealt with transactions in the hundreds of millions of dollars range, and aided various charitable organizations. It was a successful and fulfilling life for Stephen Murray, the former President and Chief Executive Officer of CCMP Capital. He passed away in 2015, leaving behind a legacy in both the business and charity worlds.

Born in Westchester County, New York on August 2nd, 1962, Murray attended Boston College, where he earned a Bachelor’s of Arts degree. He then went to Columbia University, where he earned a Masters in business administration.

Stephen entered the business and finance world in 1984 with Manufacturers Hanover Corporation, a bank holding company formed in 1905 in New York. Murray started off as a credit trainee, but through hard work he quickly rose through the ranks to be named a vice president of middle market lending. In 1989, he moved on to MH Equity Corporation, the private equity and leveraged finance unit of Manufacturers Hanover.

The company was purchased by Chemical Bank in 1991, and went through a couple of other mergers throughout the decade. But Murray stayed on board and continued to thrive. In 2005, Murray was made the head of buyout business. Read more: Stephen P. Murray, 52; Financial Executive; Stamford Resident; Vice Chair Boston College Board of Trustees

A year later, he co-founded CCMP, an investment firm that deals with leveraged buyouts and growth capital transactions. In 2007, Murray became the CEO of the firm. Since its creation, CCMP has overseen $12 billion worth of transactions. The investments include companies such as Cabela’s, AMC Entertainment, and 1-800-Flowers.

Along with his responsibilities to CCMP, Stephen Murray also served on the boards of several companies, including AMC, The Vitamin Shoppe, and Pinnacle Foods.

He also served on the board of trustees for Boston College. One of Murray’s main charities was the Make-A-Wish Foundation. He also donated to the Food Bank of Lower Fairfield County.