James D. Robinson III, who served as the chief executive of the American Express Company from 1977 to 1993, passed away at the age of 88 on Monday in Roslyn, N.Y. The cause of death, according to Walter Montgomery, a family spokesperson, was respiratory failure from recurrent pneumonia.
Mr. Robinson, a soft-spoken scion of a Georgia family, followed the typical trajectory from private school to the Ivy League and ultimately to a position of power and influence on Wall Street. He was instrumental in transforming the financial marketplace into a more competitive environment by bringing together a diverse range of businesses under one roof.
As a prominent advocate for deregulation in Washington, Mr. Robinson played a key role in expanding the horizons of the financial industry. Although he later admitted that financial deregulation had gone too far, he never pushed for the reinstatement of Glass-Steagall restrictions.
His career was highlighted by his efforts to expand the American Express empire to encompass a wide variety of financial services. Under his leadership, the company acquired Shearson Lehman Hutton, First Data Corporation, Investors Diversified Services, and the Fireman’s Fund Insurance Company.
Known for his involvement in the high-stakes takeover battle for RJR Nabisco in 1988, Mr. Robinson was eventually forced to resign from American Express in 1993 due to pressure from shareholders and directors. Following his departure, he went on to establish RRE Ventures, a venture capital firm.
Mr. Robinson, who was often referred to as “Jimmy three sticks,” was born in Atlanta in 1935. He attended the Georgia Institute of Technology before serving in the Navy and later obtaining an M.B.A. from Harvard Business School.
Throughout his career, Mr. Robinson maintained a strong presence in the financial world and left a lasting legacy on Wall Street. He is survived by his wife, children, sister, and grandchildren.
