William (Bill) Holman Hurt, born March 29, 1927, aged 94, passed away peacefully at his San Marino, California home on September 2, 2021.
Born and raised on the South Side of L.A., he chose to graduate early from L.A. High School to get a year of college under his belt before joining the U.S. Navy. He later earned a bachelor’s degree from the University of Southern California, graduating magna cum laude in 1949. After graduating Harvard University with an M.B.A. in 1951, Hurt headed back to Los Angeles to start his investing career at Dean Witter & Company; he served for 20 years in several roles, including executive vice president for marketing and research, and head of institutional and retail sales. “I was a cage rattler,” he noted.
In the 1970’s, Bill left Dean Witter following a management change. The following September, he joined LA-based investment firm Capital Group holding the twin titles Vice Chair of the Board and Chair of the Executive Committee. In his new role, Bill supported the second largest launch for Capital, American Funds, New Perspective Fund in 1973.
In 1993, Bill took on investment management responsibilities for Capital’s Private Client Services (PCS). As Global Equity Portfolio Manager, he managed PCS portfolios until 2014, spending the bulk of his career in the business area.
A self-described “people person,” Bill mentored and encouraged countless employees over the years. Retired Capital Portfolio Manager Ted Samuels worked with Hurt throughout his career, describing his colleague as “Capital Group’s Yoda” on account of his diminutive stature, elliptical speech, profound thought and invincible attitude.
Hurt retired in July 2019, a milestone he felt was simply the next stage of the Zen Buddhist art of living.
“I think of investing as a ‘people activity,’” he described at the end of the decade. It was a responsibility he took very seriously.
“In a place of extraordinary people, Bill was the most impactful person at Capital — in terms of how I invest, how I think, even how I parent,” remarks Portfolio Manager Alan Wilson. “Bill was a honeybee — a cross-pollinator going from flower to flower. No one knew more people, inside and outside of the organization, and no one was making more connections. He brought a rich diversity of perspectives. The meadow is still here of course, but it’s not quite as vital and extraordinary as it was with Bill buzzing around.”
A selfless Philanthropist, Bill’s philanthropy in Los Angeles and beyond made a profound impact. In 1961 he started what’s now called the WHH Foundation, to encourage his children and grandchildren to give back to their communities.
Bill served as a director of the Children’s Hospital Los Angeles (CHLA) for more than 25 years, and as an honorary director until his passing. Bill and Sally also directed significant passion and support to the California Institute of Technology, both personally and through the foundation. The Hurts opened their guesthouse to Caltech students over the years, the first of which was Dr. France Córdova, a former director of the National Science Foundation.
Nearby institution The Huntington Library, Art Museum, and Botanical Gardens is another interest of the Hurt Family. Bill also served on the Board of Leaders of the USC School of Business and was involved with the Los Angeles Chamber of Commerce, the L.A. Committee on foreign relations and the L.A. World Affairs Council.
Bill was preceded in death by his beloved wife, Sarah (Sally), a self-described “country girl” and artist; his sister, Constance Peterson; his first wife, Sheridan Anne Stephens; and his stepson, James (Eve-Lynne) Murray. He is survived by his sister, Marilyn Hurt Bozanic; three daughters Kelley (Mark) Purnell, Kathleen “K.C.” Hurt and Courtney (Terrence) MacMillan; stepchildren Douglas (Bernadette Glenn) Murray and Elizabeth (Mike Bartee) Murray; as well as 15 grandchildren/step-grandchildren, three great-grandchildren and numerous nieces and nephews all of whom he was very proud.
Donations honoring Hurt may be made to the Center for Healthy Adolescent Transition at Children’s Hospital Los Angeles (CHAT).
A service is being planned for early 2022.
