Robert Fred Dall was born on August 23, 1934, in Astoria, Queens and died on November 15, 2015.
He was an American banker.
The paper’s called him ‘the Mastermind of Mortgage-Backed Bonds on Wall Street.
Robert graduated from Hofstra University.
He received his degree in business from the University of New York University.
Working for Salomon Brothers in the 1970s, Robert sold American home mortgages to large private investors.
All Mr Dall’s innovations became a core investment for institutional investors all over the world.
Robert thought years into the future, Lewis S. Ranieri, who assumed a central role in Mr. Lewis’s tale.
Mr. Ranieri went on to depose Mr. Dall as the head of the firm’s fast-growing mortgage securities department.
The mortgage securities idea generated a peak of about half of Salomon’s profits in the early 1980s.
Among his other position Mr. Dall started working in a different area in the bank, around the early 1970s, he had begun to trade the mortgage-backed securities of Ginnie Mae.
At the time the market was fairly small, and private investors were not big players in it because the securities were not seen as an attractive investment.
Mr. Dall and his superiors at Salomon were persuaded, that the housing market in the United States would grow rapidly because of demographic changes, and that there should be a role of Wall Street banks in securitizing these mortgages so that large institutional investors could buy them.
In 1977, Robert made a deal with a private investor: securing a $100 million deal with Bank of America.
In 1984, Robert retired from Salomon as a managing director and went on to work briefly at Morgan Stanley and then Drexel Burnham Lambert in 1986.
Robert also worked at Goldman Sachs before moving to Salomon Brothers in the late 1960s.
Robert Dall left behind his son, his wife had died earlier.
Robert Dall passed at 81 years old due to pneumonia.