|Executive Council Profiles|
Verne Istock, Epsilon '62
#7 - National President
Epsilon Brother Verne G. Istock ’62 worked in banking for nearly 40 years. The former President and CEO of Bank One Corporation began his career as a credit analyst at National Bank of Detroit (NBD) in 1963, just after graduating from the University of Michigan with his B.A. in economics and his MBA in finance. The self-made man quickly worked his way up the ranks, becoming chairman and chief executive officer of NBD Bancorp and NBD Bank in 1994. The following year he oversaw the merger of NBD and First Chicago Corporation and was elected president and chief executive officer of First Chicago NBD Corporation. He became chairman in 1996. He then oversaw the merger with Bank One in late 1998 and served as Chairman and then President remaining in that role until his retirement in 2000.
The youngest of four children, the Grosse Pointe, Mich. native credits much of his success to the lessons he learned while growing up and as an undergraduate at the University of Michigan. Verne joined Alpha Epsilon in the spring of 1959 and later served the Alpha as #4.5, #4 and #1. It was also during his time in Ann Arbor that Verne met his wife Judy (who served as President of Delta Delta Delta Sorority). The couple’s son Steven followed in their footsteps, attending University of Michigan. There he joined Alpha Epsilon and graduated in 1989. Judy’s brother-in-law is Bill Stocklin E’66. Verne and Judy remain ardent supporters of the University and continue to support it in various roles.
Verne and his wife Judy live in Naples, Fla., but they remain active in their support of University of Michigan. They are co-chairs of the Chicago Committee for the current University of Michigan Capital Campaign. They have endowed a number of scholarships in the Schools of Business, Graduate Business, LS&A, Education, Music and Dance, and Athletics at the University of Michigan. Verne and Judy are recipients of the Michigan Alumni Association Distinguished Service Award and the David Hermelin Volunteer Leadership Award.
Br. Istock serves on the board of directors of Masco Corporation, as non-executive Chairman, and Rockwell Automation, Inc. as lead Director. In addition, he is a member of the board of directors of the Chicago Council on Global Affairs, Millennium Park, Inc., The Forum Club of Southwestern Florida, and the Chi Psi Educational Trust. He is a member of the Council of Chief Executives Inc., the Commercial Club of Chicago, and the Economic Club of Chicago. He is former lead director and non-executive Chairman of Kelly Services, Inc., a former director of R. L. Polk Company, Grand Trunk Western Railroad, and the Handleman Company. He is a former director of the Federal Reserve Bank of Chicago, the Economic Club of Chicago, the United Way of Metropolitan Chicago, the Chicago Crime Commission, Detroit Renaissance, the Greater Downtown Partnership in Detroit, the Economic Club of Detroit, the Michigan Business Roundtable, the Illinois Business Roundtable, the Financial Services Roundtable and the International Monetary Conference.