In the summer before his senior year at Lehigh, Kevin Clayton ’84 ’13P was sharing a meal with his family and asked his father when he would be coming to Wall Street. His father, William Clayton ’51, a noted Wall Street leader and second-generation Wall Street success, scoffed at the idea and told him that he would not be there until he learned to sell something tangible, like steel, automobiles, or vacuums.
Lehigh Wall Street Council Spring Reception.
Taken aback, Clayton knew it wouldn’t be vacuums. Instead, he heeded his father’s advice and chose automobiles. So he started at the bottom at Chrysler, working in the Philadelphia office to distribute cars to dealers as vehicles rolled off the line.
He cut his teeth and soon moved to the headquarters in Detroit. Lee Iacocca ’45 at that moment sat at the top of the Chrysler leadership chain. That Lehigh connection, albeit distant between their roles, mattered to Clayton. It reinforced the power of people, especially Lehigh people.
That idea served as one of the main themes of the speech Clayton delivered when he accepted the Professor James A. Greenleaf Award during the Lehigh Wall Street Council Spring Reception at the Penn Club in New York City.
Clayton eventually made it to Wall Street, where he made his mark in finance despite his circuitous route, but that journey has made all the difference.
Meeting Greenleaf
During the second semester of his freshman year, Clayton, a government major, went to Drown Hall for a Lehigh Investment Club meeting. Greenleaf served as the adviser, and the two of them hit it off.
It might have been Greenleaf’s ability to blend theory with practical experience, faculty status with friendship, and leadership with influence.
“He was more than a teacher. He was a mentor, able to add a dimension to his professional knowledge that was beyond the classroom,” says Clayton. “Of course, he was good at analyzing risk and reward, but he was even better at betting on people. He opened doors and picked up phones. He used his network to change the lives of so many students and alumni.”
It is this lesson in mentorship that Clayton learned and soon sought to model.
Chrysler to Wall Street
Clayton spent five years at Chrysler, learning sales, marketing, and management, but that time helped him better understand people and markets as well as hone his own sense of grit, trust, and fortitude. Over that time, he had the space to make mistakes and learn from them. Those years also afforded him the opportunity to earn an MBA, marry his sweetheart, Lisa, and begin a family.
Of course, he stayed in contact with Greenleaf. It was through his encouragement that Clayton made the move to institutional investment management at Trust Company of the West in Los Angeles, California. Over five years, Clayton rose in the ranks to senior vice president. He then ventured out in 1995 to join Oaktree Capital Management at its founding, serving as principal and board director.
It was a calculated risk, but he applied the principles he learned from Greenleaf: discipline, long-term thinking, balancing data and intuition, fiduciary responsibility, and, most importantly, the value of relationships.
“He always put people first,” says Clayton. “Whether managing investor expectations or collaborating with partners, I never forgot the value of relationships.”
Over the last 30 years, Oaktree has grown to 25 offices, 3,000 employees, and over $200 billion in assets under management. While he helped grow the company’s success, Clayton never strayed far from South Mountain.
Giving Back
Giving back to Lehigh has always been a Clayton mantra. His commitment and service to the university is legendary: 23 years of service on the board of trustees, five years as board chair, interim president for the 2014-15 academic year, and numerous philanthropic gifts, including the founding gift to lead renovations of the University Center at Packer Hall and endowing the deanship in the College of Business, to name a few.
“There are so many buildings on campus that bear names of men I knew personally. Many of them took me under their wings,” says Clayton. “I, as a student and young alumnus, benefited from their support, leadership, and generosity. My family and I wanted to join them in recognizing that Lehigh is an outstanding educational institution and that it will still be here long after the Claytons.”
The University Center bears the Clayton name, but he knows that making an impact comes in a variety of sizes.
Like Greenleaf, Clayton challenged those at the Lehigh Wall Street Council Spring Reception to reflect on their Lehigh mentors.
“Mentorship is why we were here tonight,” said Clayton. “Whether that person was Jim Greenleaf or another professor, someone at Lehigh gave us a chance, made a call, listened to us, and helped us see our potential.”
He reminded them that mentorship isn’t about name, title, or worth. It is about showing up, seeing something special in someone else, and helping them out. Clayton encouraged guests to keep that Lehigh culture alive and invest in others. He asked them who they are mentoring today.
“There are young analysts, new hires, and Lehigh students chasing that first opportunity,” he says. “As alumni, our job is to invest in others with the same generosity our mentors showed us. For me, that was Jim Greenleaf.”
Clayton was honored, humbled, and proud to earn an award that bears the Greenleaf name.
“That is the power of Lehigh and the impact its people make in our lives,” he says. “We must do all we can to return that favor for all future generations at Lehigh.”
