Bio as of 2010 when awarded Acta Non Verba Award
Even though it has been 30 years since Tom graduated from the U.S. Merchant Marine Academy, his name and face are synonymous with Kings Point and Kings Point Athletics. A member of both the basketball (Captain) and golf teams, his undying love for the Academy and for the midshipmen who have followed him is a true testament to his unselfishness.
In 1990, Tom was one of the principal founders of the Blue & Gray Club, which is the Athletic Annual Fundraising Program under the USMMA Alumni Association & Foundation. Along with Bob Lavinia ’70, Tom made a considerable donation to the Athletics Department to modernize the VIP Room, thus creating the HUGHES/LAVINIA ATHLETIC CONFERENCE ROOM. Additionally at that time, he made substantial donations to the General Athletics Department Fund to assist with its budget deficits. As a Blue & Gray Club Officer, Tom was also instrumental in establishing the USMMA ATHLETIC HALL OF FAME, of which, he was Chairman for five years.
In 1991, Tom along with the other principal founders of the Blue & Gray Club, John Mandel ’64, Bob Lavinia ’70, Russ McVay ’64 and Pete Rackett ’61, coordinated the first BLUE & GRAY GOLF CLASSIC, held at Burning Tree Country Club in Greenwich (Conn.) with over 100 golfers. Given the Academy’s national alumni base, the vision of the officers was to develop golf classics throughout the entire country. Nearly 20 years later, the Classics, under the Title Sponsorship of Heidmar, Inc., are a tour of 13 national events that take place all across the country and all throughout the year and unite USMMA Alumni and the maritime industry.
In 1994, the same officers established the ACTA NON VERBA Award to honor an individual or organization who has gone far beyond expectations in supporting Kings Point Athletics. The Award, aptly named after the Academy’s motto, is a true representation of the person or organization who receives it.
Overall, Tom has been there for nearly every aspect of the Department of Athletics. Whether getting on the microphone at the golf outing to “encourage” higher bids from the crowd, or his support of the Mariners’ Basketball “Backcourt Club,” Tom Hughes is a Kings Pointer who truly lives by the motto, ACTA NON VERBA.
Currently, Tom is the Chairman and Chief Executive Officer of the LNR Property Corporation. Tom assumed this position in July of 2007. From 2001 to 2005 Tom was CEO of Deutsche Asset Management and was a member of the Deutsche Bank Group Executive Committee, an eight-member committee responsible for the strategic direction and operation of Deutsche Bank. Under his leadership, the $3 billion acquisition of Scudder Investment and RREEF Asset Management was completed. These acquisitions positioned Deutsche Bank as the third largest Asset Management Company in the World. By the end of 2003, as a result of significant restructuring of the Asset Management business, Deutsche Asset Management became the most profitable public Asset Management Company in the world.
Tom was with Merrill Lynch from 1984 to 2001, where he held a number of senior positions. In 1987, Merrill Lynch announced a historic loss in mortgage derivatives and asked Tom to head all of Merrill Lynch’s mortgage trading activities where he rebuilt and expanded the mortgage department. This included principal acquisition of commercial real estate and expansion into mortgage derivatives. The business became a leader in the liquidation of the thrift industry through the Resolution Trust Corporation, an organization started by the U.S. thrift regulators. He also negotiated and led the acquisition and liquidation of Centrust Savings and Loan.
In 1991, Tom became the global head of equity derivatives and convertible bond trading, which became a market leader within a year. In early 1999, as a result of the financial crisis of 1998, Tom was hand picked to be the head of a newly created unit, Global Securities Financing. Tom received a Bachelor of Science degree in Naval Architecture and Marine Engineering from the United States Merchant Marine Academy. He has served as a member of the board for organizations including the International Monetary Fund and Hospital for Special Surgery and continues as a board member of the Cystic Fibrosis Foundation.
Tom resides in Greenwich (Conn.) with his wife, Ginny, of 28 years, and his children Mallory (24), Catherine (22) & Galen (15). Tom’s sister, Kathy, resides in Bronxville (N.Y.).