John H. Dalton, former Secretary of the Navy, joined The Financial Services Roundtable in January 2005 as President of the Housing Policy Council to guide the expansion of the Council and its public policy agenda to the Administration and Congress.
HPC was formed in May 2003, and is the premier forum for leaders of the financial services industry to positively influence issues in the housing policy arena. Thirty-one member companies comprise the HPC, originating, servicing and insuring more than 75 percent of the mortgages in the nation. The HPC believes a vibrant and fully integrated mortgage and housing industry is a central pillar of a healthy economy.
Secretary Dalton has had a distinguished career in government beginning as a naval officer. Serving in the Navy from 1964 to 1969, he attained the rank of Lieutenant while serving on active duty and subsequently was promoted to Lieutenant Commander in the U.S. Naval Reserve.
In 1977, President Carter nominated him to be President of the Government National Mortgage Association of the U.S. Department of Housing and Urban Development. In December 1979, President Carter nominated him to the Federal Home Loan Bank Board, where he served as a member and chairman until July 1981. On July 1, 1993, President Clinton nominated him to become the Secretary of the Navy. Secretary Dalton was sworn in as the 70th Secretary of the Navy on July 22, 1993 and served in that capacity until November 1998.
In the private sector, Secretary Dalton began his career with the investment-banking firm of Goldman, Sachs & Company in Dallas, Texas. He was also President of the Real Estate Division of the Gill Companies of San Antonio, TX; Chairman and Chief Executive officer of Freedom Capital Corporation, Managing Director of the merchant banking firms Best Associates and Mason Best Company as well as heading the San Antonio office of Stephens Inc., a Little Rock, Arkansas-based investment banking firm. Most recently Secretary Dalton was President of IPG Photonics Corporation in Oxford, Massachusetts.
Well versed in investment banking, leadership and management, he currently serves on the boards of directors of Washington First Bank, BGC Partners, Inc. and Fresh Del Monte Produce, Inc. Mr. Dalton also serves on the board of the White House Historic Association.
Secretary Dalton is actively engaged in the world community through his volunteer activities. He serves on the Advisory Board of the Center for Strategic and International Studies and is a Chalice Bearer and Lay Reader at the Washington National Cathedral, where he is a member of the Chapter. He is a member of the Alfalfa Club and is a participating supporter of Habitat for Humanity and the Cystic Fibrosis Foundation.
He graduated with distinction from the U.S. Naval Academy in 1964, having served as Deputy Brigade Commander, the Academy’s number two ranking position. In 1971 he received a Master of Business Administration Degree from the Wharton School of Finance and Commerce of the University of Pennsylvania.