Art Cashin, a legendary figure in the financial world and a fixture at the New York Stock Exchange for multiple decades, tragically passed away at the age of 83. The death of a man known by many as an industry veteran and beloved colleague was reported by UBS on Tuesday, August 24, 2021, leaving the financial community mourning his loss.
Born in 1937, Art Cashin grew up in the Bayonne neighborhood of New Jersey. After attending Saint Peter’s Preparatory School, Cashin embarked on what would be a successful journey in the world of finance. Interestingly, Cashin did not attend college, an often-perceived essential stepping stone for a career on Wall Street.
An ambitious young man, Cashin began his career in the financial industry at the tender age of 17. At the outset, he worked as an assistant clerk. Diligently serving, he eventually rose up the ranks with sheer determination and became a member of the New York Stock Exchange in 1964. Over time, Art Cashin became a valued member of the Paine Webber Group, which was later acquired by UBS, where he served as the Director of Floor Operations.
Throughout his career, Cashin became a respected and adored figure, known within the industry for his wisdom, freewheeling commentary, and sagacious insights on the stock market. He was a regular guest on CNBC, with his morning notes to customers and colleagues viewed as indispensable by many across the industry.
Substantiating his intellectual acuity and prowess, Cashin was bestowed with the prestigious Peter Lyman Memorial Award in 1980. He also held the distinction of being the NYSE’s longest-serving member, with a career spanning over six decades. Despite enormous success, Cashin remained remarkably humble and was well-known for wearing his trademark trading jacket on the trading floor, a nod to the earlier days of hand signal trading.
Mr. Cashin’s reputation goes beyond his remarkable professional accomplishments. He was also revered as a philanthropist and publicly recognized for his charitable endeavors. Through his involvement with The Alliance for the Betterment of Citizens with Disabilities (ABCD) and other causes close to his heart, Cashin made a substantial impact in the lives of many around him.
All said, Art Cashin’s demise is a huge blow to Wall Street. The legendary figure leaves behind him a rich legacy of financial acumen, a dry wit that endeared him to colleagues, and a philanthropic philosophy that improved many lives.
UBS, the firm where Cashin spent significant years of his career, beautifully summed up the loss, stating, Art’s contributions to the firm, the financial industry, and to his beloved charitable causes are incalculable. He was a respected colleague, friend, mentor, and a significant part of UBS’s DNA. He will be greatly missed.
Art Cashin’s relatability, integrity, and expert knowledge defined his illust
