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Tuesday, July 16, 2013

Westporter Herbert Allison Jr., 69, Led Bailout Efforts

Herbert M. Allison Jr., a former president of Merrill Lynch who helped rescue a troubled Fannie Mae and who later ran the federal government’s bank bailout program, died Sunday, July 14, at his Westport home. He was 69. Image
Herbert M. Allison Jr.: died of apparent heart attack. File photo

Westport emergency officials were called to his Beachside Avenue home at about 8 a.m. on a report that a man had collapsed while working out on a treadmill. Despite repeated efforts to revive him, he was pronounced dead at Norwalk Hospital.

His son Andrew said the cause was possibly a heart attack, The New York Times reported.

Allison and his wife Simin purchased their 17-room home with Long Island Sound views for $25 million in 2006 from longtime Westport celebrity residents Phil Donahue and Marlo Thomas. It was the highest price ever paid for a Westport residential property. (See WestportNow May 1, 2006)

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