Kenneth L. Holmes ’51

Kenneth L. Holmes ’51, of Wilmington, Del.; Apr. 22. After graduation he reported for active duty during the Korean War and then served for many years as a member of the Navy Reserve. He later attended Duke University and earned a master’s in American literature, then was recruited as an intern at Merrill, Lynch, Pierce, Fehher, & Beane. He moved up the corporate ladder to become institutional accounts manager. He left the firm to form two investment companies: Holmes, Clark, Marong and AllianceBernstein, which eventually became Alliance Capital. In 1976, he was instrumental in forming the National Association of State Investment Officers and was awarded the Ray Lillywhite Award for outstanding lifetime contributions to America’s economic security. He also served as a consultant to the U.S. Treasury and Labor Departments and provided testimony to Congress in support of the Employee Retirement Income Security Act. During this time he completed executive management studies at the Wharton School of the University of Pennsylvania. He moved to Wilmington in 1983 and became senior vice president of investments for the Delaware Trust Co., from which he retired after their merger with Meridian. In Wilmington, he was a board member of the Visiting Nurses Assoc. and served as chair for their finance committee. He was active in his community and enjoyed playing golf and tennis. He is survived by his wife, Norma; daughters Marnie Holmes Carmichael ’79, Holly Holmes ’77,  and Kristin Holmes-Linder ’76; two sons-in-law; four grandchildren; a step-grandson; and a brother.