Commemorative
The Jefferies Family Scholarship is more than a platform for the pursuit of academic excellence. It is a memorial to: Boyd Jefferies, founder of Jefferies and the Jefferies Family Scholarship Program; his beloved son Stephen, for whom Boyd founded the scholarship program; Alan Herrick, a former JFS recipient and son of Tracy Herrick, a former board member of Jefferies who dedicated nearly 25 years to helping build the firm; and Chairman Emeritus Carl Hathaway, who served on the selection committee for 37 years.
These unique and extraordinary individuals embody the qualities and spirit that are in some way represented in each of its recipients. It is with a mixture of great pride, sadness and gratitude that we remember them.
Boyd L. Jefferies
Founder, Jefferies & Company, Inc. and Jefferies Family Scholarship
1930-2001
A Leader on Wall Street
“There is no such thing as a limit,” was a common phrase uttered by Boyd Jefferies, founder of Jefferies and the Jefferies Family Scholarship. Boyd helped mold the Wall Street of today, pioneering the institutionalization of equity trading and revolutionizing the market in many ways. Boyd’s incredible work ethic, astonishing drive, extreme discipline, high standards and uncanny vision are the cornerstones of the firm and the attributes exhibited in many of the Jefferies Family Scholarship recipients.
After graduating from UCLA in 1952, Boyd spent several years working on his uncle’s cattle ranch, where he learned the value of hard work, before taking an Assistant Clerk position on the floor of the Pacific Coast Stock Exchange. He became a partner at Noble, Tulk, Marsh & Jefferies, before branching out on his own to form Jefferies in 1962, with just $30,000, one employee and a booth on the floor of the Pacific Stock Exchange.
When Boyd’s son Stephen was killed in a motorcycle accident in 1981, he established the Stephen A. Jefferies Educational Grant Program, now the Jefferies Family Scholarship, to assist the children of Jefferies’ employees in their academic pursuits. In 1987, Boyd resigned as Chief Executive Officer of Jefferies and moved to Aspen, Colorado where he helped establish a golf program for disadvantaged children. Boyd passed away in August 2001. His memory lives on in his family and in the firm and scholarship that bear his name.
Stephen A. Jefferies
Former Jefferies Employee
1953-1981
The Inspiration Behind the Jefferies Family Scholarship
Following in the footsteps of his father, Boyd Jefferies, founder of Jefferies and the Jefferies Family Scholarship, Stephen Jefferies worked as a broker at Jefferies. Hard working and full of life, he loved riding motorcycles, surfing, and enjoying the world. He was close to his family, with a loving wife and daughter, Carrera.
Stephen’s life was cut tragically short in 1981, when he was killed in a motorcycle accident. After the loss of his son, Boyd made a decision to honor Stephen with a special memorial. Boyd’s thoughts quickly turned to education, and, hence the development of the Stephen A. Jefferies Educational Grant Program, now the Jefferies Family Scholarship.
In 2001, when Boyd passed away, the program evolved as a memorial for both. The program continues to serve Jefferies’ employees and their children, embodying the memory and perseverance of these two very special men.
Alan Herrick
Former JFS Recipient
1971-1995
A Compassionate Leader and Creative Spirit
Alan Herrick earned a bachelor’s degree from Washington and Lee University and a Master of Fine Arts in Film from the California College of Arts and Crafts. Alan won “All American” in swimming and was co-captain of his water polo team in high school and college. Extremely talented, he excelled at writing, athletics and film making. Alan was enthusiastic and knowledgeable and had ambitions as a film maker. He showed deep compassion and understanding for others. Alan relished the joys of life, living it to the fullest.
“Alan did all the things normal kids do, but he was a caring person, he was very good to the underdog,” recalls Alan’s mother, Maie Herrick. “He always strived to be a good human being. He did not try to hold the limelight; he always showed great sportsmanship. He would go out of his way to make people feel comfortable and included. His kind heart led him to help others feel special and accepted.”
“When he caught hold of his interests, he found enormous strength in them—he loved that. He found strength not only in athletics but in his creative side as well. He was a great writer of film and poetry,” remembers his father Tracy Herrick. Tracy worked as Jefferies’ Chief Economist and was a Director for 24 years.
When Alan was killed tragically in a car accident in May of 1995. Alan’s parents made a large donation to the Jefferies Family Scholarship program in his memory, and Jefferies created the Alan Herrick Award, to be given each year to the applicant who best exhibits Alan’s qualities.
Jefferies Family Scholarship
Boyd asked for my involvement from the very beginning – getting the applicants, preparing them for the Committee, paying the tuitions and the necessary record keeping. It has evolved to the enormity it is today. Our first meeting was sitting around Boyd’s kitchen table on a Saturday afternoon. I am honored to have been a part of this wonderful benefit for the children of Jefferies employees.
Dorothy P. Grace
Former Secretary & Treasurer of Jefferies Family Scholarship