HOUSTON – Investor and philanthropist Fayez Shalaby Sarofim has died at the age of 93, a representative from Museum of Fine Arts, Houston confirmed to KPRC 2.
Gary Tinterow, director of Museum of Fine Arts, Houston released this statement:
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“It is difficult to overstate the impact of Fayez Sarofim on the city of Houston and its institutions over his long life. Like so many who shaped this city, he was born elsewhere but adopted his new home with a distinctive fervor and loyalty. As for the Museum of Fine Arts, Houston, Mr. Sarofim had been a loyal supporter of the Museum since 1970. As the steward of a large portion of the Museum’s endowment, he ensured our stability and enabled our growth. In addition to his philanthropy, he was an avid and astute collector of art and in time built a collection that is almost unique in its scope, scale and quality. His art collection closely reflected his identity and interests, his family and friends. His objects from antiquity recall his youth in Egypt as the scion of a distinguished Coptic family and his exquisite crucifixion by El Greco is a powerful reminder of his faith, while his extensive and comprehensive collection of American art expressed his identification with his adopted homeland.”
An obituary posted in his name on Dignity Memorial said he died “peacefully” in his home on Saturday.
Fayez founded Fayez Sarofim & Co., a Houston investment management business, in 1958.
Fayez Sarofim & Co., with headquarters at 2 Houston Center, grew to be the largest investment advisory firm in the Southwest, according to the obituary. Early clients included the Rice University Endowment, The Brown Foundation, Inc., Texas Children’s Hospital, the Cullen Foundation, and Ford Motor Company, along with numerous other pension plans, endowments, foundations, and individuals. The obituary reads, “Fayez led a dedicated team of investment professionals with a quiet voice, a consistent vision anchored in his belief in America and America’s businesses, and an unwavering patience and conviction in his firm’s abilities to create wealth for its clients.”
The obituary notes the philanthropist’s generosity around Houston and beyond: “He was a donor to Harvard Business School, St. John’s School, Southwestern University, among numerous other educational institutions. He cared deeply about supporting medical innovation and research and gave generously to Baylor College of Medicine, Memorial Hermann Hospital, the Texas Heart Institute, MD Anderson and many more. Fayez also loved art and generously supported the Museum of Fine Arts, Houston, which named its campus after him. As numerous and generous as his donations were, his greatest contribution was the investment returns he generated on behalf of his clients.”
In addition to his work with organizations, the obituary adds: “Fayez had impeccable taste that was on display at his homes, in his Savile Row tailored suits, and, most predominantly, in his art collection. The walls (and even a Coptic mosaic on the floor) of his homes and the offices of Fayez Sarofim & Co. show his passion for artists such as Winslow Homer, Childe Hassam, John Singer Sargent, Willem de Kooning, Mark Rothko, Hans Hofmann, and beyond. So vast and prized is his collection that the Museum of Fine Arts, Houston hosted an exhibition of it last year.”
The obituary highlighted his personality and his wealth spread around the world via his real estate holdings: “Friendships with Fayez were lasting and deep, and he was loyal to his friends and co-workers for life. A man devoted to his daily routine, he enjoyed a good cigar and good conversation wherever he found them – from the lunch table at the Coronado Club, to his lodge at the Two Dot Ranch in Wyoming, to the lanai at his home in Honolulu, to the aft deck somewhere in the Mediterranean.”
Fayez, the obituary notes, is survived by his wife, Susan, his son Christopher and wife, Courtney, his daughter, Allison, and husband, Patrick Seabase, his son Andrew and wife, Mona, and his son Phillip, along with his grandchildren Gillian, Louisa, Fayez, Claire, Henry, Angelique, and Serenella, and his step-granddaughter Lily. He is preceded in death by his son Max.
The obituary says a funeral service will be conducted by Daniel Cardinal DiNardo at 10 a.m. on Thursday in the Co-Cathedral of the Sacred Heart, 1111 St. Joseph Parkway in Houston.
In lieu of flowers, the family asks that contributions be directed to CHI St. Luke’s Health Baylor College of Medicine or the Museum of Fine Arts, Houston.