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People : John Duffy
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About John Duffy

Mr. Duffy has been with Keefe, Bruyette & Woods, Inc. for 24 years, having been elected Chairman and Chief Executive Officer in September 2001. Prior to that he was President and Co-Chief Executive Officer, a position he assumed in July 1999.

From 1990 to 1999, Mr. Duffy was Executive Vice President and in charge of the firm’s Investment Banking Department. There he was responsible for managing the firm’s substantial merger & acquisition practice in the financial services field as well as KBW’s corporate finance activities in the equity and debt markets.

Prior to joining KBW in 1978 to manage the company’s BankWatch division, Mr. Duffy was the Vice President in charge of ratings for depository institutions in the corporate ratings department of Standard & Poor's Corporation.

In 1971, he received his B.A. in Economics from The City College of New York and attended the Bernard Baruch Graduate Program of the City University of New York.

Mr. Duffy serves on the Board of Trustees of the Michael Smurfit Graduate School of Business, University College, Dublin, Ireland as well as Saint Michael’s College in Colchester, Vermont. He is also a Trustee of The Ursuline School, New Rochelle, NY and Chairman of the Investment Committee of the Cardinal and Gold Fund of Cardinal Hayes High School, Bronx, NY.

John Duffy, a Board Director of The American Ireland Fund and Co-Chair of the 2006 New York Dinner, was honored at this year’s Irish Chamber of Commerce in the US (ICCUSA) dinner in New York City in October. ICCUSA honored individuals who have demonstrated a commitment through commerce and/or the arts to Ireland's success.

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John shared reflections of his childhood and his Irish roots and The American Ireland Fund was pleased to be acknowledged in his speech.
His speech that evening follows:

Many of you are the sons and daughters of the people who left their homeland because of lack of opportunity. Thankfully, that is no longer the case in Ireland and organizations like ICCUSA have helped fuel the investment in Ireland that has created today’s Celtic Tiger.

My parents are from Sligo and Leitrim and left Ireland in 1940 to seek a better life for themselves and escape the repression and lack of opportunity. My mother Annie McCaffrey, came to America in 1940. I marvel today that she, the first to leave Ireland in her family, had such courage to come to an unknown land. She came for the opportunity. Although she had no education past primary school, she is a very wise woman. Growing up, she always told me to get an education, “they can’t take that away from you.” When I brought my family to Ireland in 1996 we had a wonderful experience. My mother got to show her daughter-in-law, my wife Kathleen, and her five grandchildren, my five children, Brian, Chris, Kevin, Kara, and Caitlin, four of them here tonight, where she grew up. One Sunday we went to Mass at her church and afterwards we visited the cemetery next door seeking out the tombstones of members of the McCaffrey family. When we came to the tombstones of her Uncle James, she proudly pointed out that this was her father’s brother and that he had been a teacher. I was a little puzzled at reading the tombstone, the letters N.T. appeared after his name. I could not imagine what they stood for, perhaps, ‘Not There’. She then proudly pointed out that they stood for National Teacher. Clearly, a teacher was regarded with great respect and hence her appreciation for an education.

I was fortunate to be schooled by the Sisters of Mercy in the Bronx in my youth. Then I went to Cardinal Hayes High School where the priests and brothers tried to knock some sense into me. Thinking about opportunity in the United States, I would have you know that the cheapest seat in the house tonight is $600.

Well, grammar school at St. Simon’s was free and the priests at Hayes only charged me for my first two years. $15.00 a month, $150.00 a year, $300.00 for two years, the cost of my schooling was a total of $300.00. That would get you half a meal tonight. College at CCNY was free – what a great country – thank you Mayor Bloomberg. I mention that because I, like my mother, truly believe in the power of education.

We normally think of education in a traditional sense. Children going off to school to learn how to read, write, and learn mathematics and other subjects. Today, as Irish Americans, we must think of education in an expanded sense. We must not educate just the children of our society, but do whatever we can to help educate the adults of Northern Ireland so that the progress that has been made in recent years continues. These Irish people are the unfortunate products of centuries of hate and distrust. We can help them obtain a better life for themselves and their children and I urge all of you to do what you can to make our Ireland a better place to live.

I would like to acknowledge Kieran McLoughlin and all my friends from The American Ireland Fund that have done so much in Northern Ireland through their sponsorship of the integrated schools in Northern Ireland.

In closing, I would like to tell you that the Waldorf Astoria is my favorite hotel. I accepted an award here a few years ago from The American Ireland Fund. I was honored after the attacks of 9/11, that day I lost 66 co-workers and friends and I lost my 23 year old son, Chris, who worked for me. I was fortunate to have missed the attack that morning.

I was honored that night to receive the award as I am tonight. But the significance of the Waldorf is that my mother ran the elevators in this hotel in 1942. So some of you may think that the Duffys or the McCaffreys have only moved 100 yards or so in 63 years, but in reality we have come a long way because we’re Irish and because this great country gave us an incredible opportunity.



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