Jay Tenenbaum Renowned arbitrageur and philanthropist, L.Jay Tenenbaum died peacefully at his Woodside, California home on January 16, 2011. He was 88.
Born in Little Rock, Arkansas to Harry and Berenice Tenenbaum, L.Jay was raised in St. Louis, Missouri where he attended St. Louis Country Day School. In 1942, while studying at Vanderbilt University, he enlisted in the U.S. Army. L.Jay achieved the rank of 2nd Lieutenant and served with the 10th Mountain Division in Italy. He was very proud to have received a Silver Star, Bronze Star and two Purple Hearts in recognition of his wartime service.
L.Jay's professional life began in St. Louis working for his father's investment banking firm Peltason, Tenenbaum & Co. Through his father's friendship with Gustave L. Levy it was suggested in 1953, that L.Jay go to New York and work as an assistant to Mr. Levy at Goldman, Sachs & Co. In 1958, L.Jay was asked to become a member of Goldman's Partnership while heading the firm's Trading and Arbitrage Department helping to build it into an important business.
The second half of L.Jay's life began in 1976 when he chose to become a Limited Partner of Goldman and moved with his bride to the San Francisco Bay Area. For many years, L.Jay served on the Board of the San Francisco Ballet and in 1980 chaired the committee to raise funds to build the ballet's new home on Gough Street.
He also enjoyed service and friendships as a board member of the Commonwealth Club of California, Youth Tennis Advantage, KQED and Stern Grove Association in addition to serving as a Deputy Chief of Protocol of San Francisco under Mayor Frank Jordan.
L.Jay is survived by his wife of 36 years, Gretchen, his three sons and their wives, Harry (Rafaella), Bruce (Julie), Kurt (Kristina), his granddaughter Layne and his sister Joy Dunkelman (Mel) of St. Louis, Missouri.