Farewell to One of New York’s ‘Wise Men’: Richard Parsons (1948-2024)

New York City mourned the loss of one of its notable “wise men” last week with the passing of Richard Parsons at the age of 76.

“Dick was a unique figure, a giant straddling the realms of business, media, culture, philanthropy, and more,” lamented his friend Ronald Lauder.

Born in Brooklyn, Parsons began his college journey at just 16. He excelled in basketball at the University of Hawaii before earning his law degree from Albany Law School in 1971.

As an emerging lawyer, he served as an aide to Governor and later Vice President Nelson Rockefeller. Transitioning into the private sector, he rose to become COO and then CEO of Dime Savings Bank, followed by CEO of Time Warner and chairman of Citigroup, gaining a reputation for steering major corporations through turbulent times.

In this capacity, he played a key role in stabilizing CBS during the tumultuous departure of Les Moonves and assisted the Los Angeles Clippers in overcoming the fallout from Donald Sterling’s racism scandal.

As a philanthropist, he led the board of the Jazz Foundation of America and the Apollo Theater Foundation, and co-chaired the advisory board for the Smithsonian National Museum of African American History and Culture.

Additionally, he participated in the transition teams for Mayors Rudy Giuliani and Mike Bloomberg, as well as President Barack Obama.

Parsons also collaborated with his friend Lauder to preserve the race-neutral admissions test for New York City’s prestigious public high schools and funded initiatives aimed at increasing the enrollment of Black and Hispanic students. He also played a role in launching the Equity Alliance, a fund designed to support ventures led by women and people of color.

Both our city and nation reaped the rewards of his dignified leadership in both public and private spheres.

May he rest in peace.