The Savage Way: Successfully Navigating the Waves of Business and Life
Frank Savage's is an unlikely success story. Raised in segregated Washington, DC, by his mother, a hairdresser and entrepreneur with little formal education, Savage's career has taken him around the world as a globetrotting financier. From his first banking job at Citibank to his current position as Chairman Emeritus of Howard University, The Savage Way shares the life and business lessons he learned along the way. This memoir relates the many starts and stops, successes and failures in his long career, from his involvement in the collapse of Enron, to his experience investing in Africa, to his days as a competitive yachtsmanalways guided by the wisdom of the mother who taught him to transcend all limits.
- A powerful memoir of an inspiring business leader
- Savage is the current Chairman of his alma mater, Howard University, and the CEO of the global financial services company Savage Holdings LLC
A rare and inspiring story of personal and professional challenge and ultimate triumph, The Savage Way is a memoir that offers powerful inspiration and wisdom for tomorrow's business leaders.
Chapter 1 Too Much Money 9
Chapter 2 Getting In, Struggling Out, Getting Right 35
Chapter 3 La Savage, the Source and Inspiration 69
Chapter 4 The Journey to True Origins 99
Chapter 5 My Journey Deepens 127
Chapter 6 The Longer Road Home 147
Chapter 7 Africa Calls Once Again . . . 167
Chapter 8 Walking Over a Bridge Not Burned 203
Chapter 9 Sailing Lolita, Pulling It All Together 227
Lolita Racing Record 259
FRANK SAVAGE, Chairman Emeritus of Howard University, served as chairman of Howard University from 1997 until 2004 and is credited with spearheading the widely successful Campaign for Howard. He is CEO of Savage Holdings LLC, a global financial services company. Prior to forming Savage Holdings, he was chairman of Alliance Capital Management International, a division of Alliance Capital Management, a $700 billion asset management subsidiary of AXA Equitable Life Insurance Company. Mr. Savage has had a distinguished career in international banking, corporate finance, and global investment management. He serves on the boards of several corporations and nonprofit organizations, including Bloomberg LP and the New York Academy of Medicine, having previously served on the boards of Lockheed Martin, Qualcomm, and the New York Philharmonic. Savage earned a BA from Howard University and an MA from the Johns Hopkins' Paul H. Nitze School of Advanced International Studies. He was awarded an Honorary Doctorate in Humane Letters from Hofstra University and an Honorary Doctorate of Humanities from Howard University. Perhaps the award he is proudest of is the prestigious Lord Nelson Trophy as 2003 overall winner of the annual Antigua Race Week Regatta.
“Frank Savage is a great American success story, and the pioneering journey he takes you on in The Savage Way is guided not only by his boundless ambition, but also his high ideals."—MICHAEL R. BLOOMBERG, New York City Mayor and founder of Bloomberg LP
The Savage Way
Successfully Navigating the Waves of Business and Life
By Frank Savage
CEO of Savage Holdings LLC and Chairman Emeritus of Howard University
Foreword by BILL COSBY
What happens to a dream preferred?
With hard work, an iconic mother’s guidance, and a world awakening in the early 1960s to the promise of a new generation of well-educated, African Americans with a global vision, it becomes the life of Frank Savage. Raised in segregated Washington, D.C. by an extended family that included his young mother, a hairdresser and entrepreneur, Savage dreamed big, growing up believing his mother’s insistence that “You can be anything you want to be.” That anything turned out to be an international businessman and financier, raising billions of dollars as he jetted through Europe, Asia, Africa and the Middle East. Along the way, as husband and father of six, Savage discovered his love for competitive sailboat racing, a sport that calls on the best of him, much like business, to succeed with grace, honor and integrity. In THE SAVAGE WAY (Wiley; November 2012; Hardcover and e-Book), Savage shares his journey of beating long odds to become friend and adviser to heads of state and captains of industry, and of the sea, as he successfully navigates the waves of business and life.
Savage did not always succeed. In 2001, he became embroiled in the Enron scandal, one of the largest and most damaging corporate meltdowns in American financial history. Savage was a member of the company’s board of directors. Despite no wrongdoing, Savage’s two-year association with Enron sullied his fine reputation, ruptured business opportunities, and much more.
There is a comeback story as Savage restored his good name, and resumed his career as a globetrotting financier with the wind, once again, at his back -- all the while, living by the principles instilled in him as a boy that sustained his ascent in good times and bad.
The Savage Way:
• Provides behind-the-veil details of Enron’s demise explained by Savage, one of the first independent directors of Enron to write candidly about what happened at the troubled energy company, why it happened and what can be done to prevent such fatal lapses of business and personal ethics to happen again.
• Explores the meaning of Savage’s great affection for Africa, beginning with meeting African diplomats whose wives were hairdressing patrons of his mother, Madame La Savage, to his years in pre-coup Liberia, where he worked as a young financial officer for Citibank, to his struggle on the ground to help develop a trucking company to break apartheid-South Africa’s economic blockade of Zambia’s copper shipments.
• Details his rapid rise in corporate America as one of a meager number of African Americans in high finance, moving from Citibank, where he was its first African-American officer in its international division, to vice chairman of Equitable Capital Management and chairman of Alliance Capital Management International, and director of various influential corporate, civic and university boards.
• Follows his lifelong path to give back, investing early on in a friend’s idea to create a magazine for African-American women that became Essence, hiring an enterprising young lawyer, Reginald Lewis, who would become the nation’s first African American to build a billion-dollar company, to being a major contributor to his alma maters, Howard University and Johns Hopkins University.
Frank Savage is CEO of Savage Holdings LLC, a global financial services company based in New York, and chairman of Hinduja Capital Advisors, a unit of the Hinduja Group, a global conglomerate company. He serves on the boards of several corporations and nonprofit organizations, including Bloomberg LP and the New York Academy of Medicine, having previously served on the boards of Lockheed Martin, Qualcomm, and the New York Philharmonic. He is also chairman emeritus of Howard University, trustee emeritus of Johns Hopkins University, and is an honorary board member of the National Sailing Hall of Fame.
The Savage Way
By Frank Savage
Wiley; November 2012
Hardcover ISBN: 9781118494608
e-Book also available