A. Morgan Maree, Stars’ Investor, Dies
A. Morgan Maree Jr., who in 1932 established one of the first business investment firms for entertainers after his first fortune was literally swept away by a hurricane, died Wednesday in St. John’s Hospital in Santa Monica.
Maree, whose clients included Humphrey Bogart, Robert Taylor, Walter Pidgeon, Dick Powell and David O. Selznick, was 85. He moved West after the Florida bank that held his real estate earnings was destroyed by a storm in the 1920s. He moved to Detroit but the health of his son, now the president of A. Morgan Maree & Associates, caused him to relocate to a drier climate.
In 1932, Maree opened a small office on Hollywood Boulevard where--for 5% of the transaction--he began to advise film stars and executives on how best to invest their salaries.
Among his first clients were Chester Morris and cowboy star Charles Starrett.
Over the years, Maree steered their money into oil wells, shopping centers, marinas, government office buildings and even a television production firm--Four Star, founded by Powell, Charles Boyer, David Niven and Ida Lupino.
Maree’s formula was to pay client’s bills, give them an allowance and invest the surplus in areas that would assure income after their film careers ended.
In addition to his son, A. Morgan Maree III, Maree is survived by his wife, Elizabeth; a daughter, Marianne Cooper; six grandchildren and one great-grandson.
