of its Primary Dealer status. This action would have threatened the survival of the firm, then the largest participant in the U.S. government and mortgage bond trading markets. Warren Buffett, who through Berkshire Hathaway had recently acquired a $700 million preferred equity position in Salomon, became alarmed by the activities of the firm. Buffett actively took measures with Salomon in order to protect his investment, including briefly serving as CEO of Salomon Brothers. As a result of the scandal, Gutfreund and other senior managers of Salomon were forced to resign in 1991. From January 2002, Gutfreund was senior managing director and executive committee member of the investment bank C.E. Unterberg, Towbin. He was also president of Gutfreund & Company, a New York-based financial consulting firm that specialized in advising corporations and financial institutions in the US, Europe and Asia. Legacy Gutfreund was featured prominently in the 1989 book Liar's Poker by Michael Lewis, a former employee of Salomon. Gutfreund would later tell Lewis that "Your fucking book destroyed my career, and it made yours." The UJA-Federation of New York honored him for his charitable activities and contributions. Personal life Gutfreund was married twice: In 1958, he married Joyce Low, the daughter of Teddy Low, a partner at Bear Stearns. They had three sons: Nick (b.1959), Josh (b.1961), and Owen (b.1963). In 1981, he married flight attendant Susan Penn (maiden name Kaposta) (b. 1946), the daughter of a Hungarian American, US Air Force pilot father and a Spanish American mother. They had one child, John Peter (b. 1985). Gutfreund died on 9 March 2016, aged 86. References External links John Gutfreund is the former CEO of Salomon Brothers John Gutfreund's video interview Nightly Business Report Interview -- John Gutfreund of Gutfreund & Company Examines The Financial Crisis 1929 births 2016 deaths Jewish American bankers American financial company founders American financiers American investors United States Army personnel of the Korean War American stock traders Businesspeople from New York City Oberlin College alumni People from Scarsdale, New York Lawrenceville School alumni United States Army soldiers 20th-century American businesspeople 21st-century American Jews