In Memoriam: Alfred J. Schiavetti, Jr., 84
Managing Director at Chemical During 30-Year Career There
Alfred (Al) John Schiavetti, Jr., who had a 30-year career at Chemical Bank, died on June 28, 2023 of cancer in New Jersey. He was 84.
A 50-year-plus resident of Fair Haven, NJ, he had a distinguished banking career and dedicated his retirement to improving and delivering education and healthcare opportunities as an active and engaged non-profit board member. Schiavetti was an avid reader, a six-continent traveler, and ardent collector of art and wine.
He grew up in Stafford Springs, CT, and graduated from Williams College in 1961. He earned his MBA at the NYU Stern School of Business before joining the management program of Chemical Bank. He left as Managing Director in the company’s Banking and Corporate Finance Group. The New York Times highlighted his move to the Midlantic Corporation in 1991 by labeling him "Credit Czar" for continuing to enforce the tough lending standards that had been loosened in the 1980s. He was Midlantic's first Chief Credit Officer, where he was tasked with restructuring their lending practice, recouping losses, and transforming the bank for a profitable future.
In retirement, he served as a dedicated trustee at both Monmouth University and Hackensack Meridian Health (HMH). He held a deep commitment to both missions and served actively and strategically until his very last days. Presented with an honorary Doctor of Public Service degree from Monmouth in 2011. He previously served as president of the Rumson Country Day School Board of Trustees and a Trustee for the Williamstown Art Conservation Center, and he worked with major museum directors as Chairman of the Williams College Museum of Art Visiting Committee.
Schiavetti is survived by Barbara (Bobbie), his wife of more than 56 years, three children and two grandchildren.
A celebration of life is planned for the fall near his family home on the Jersey Shore. A Memorial Gathering will be held on Saturday, September 9th from 1-4 pm at Thompson Memorial Home, 310 Broad St, Red Bank, NJ 07701. In remembrance of Al’s life, the family asks that any charitable donations be made to the scholarships in his name at Hackensack Meridian Health Foundation (343 Thornall Street, 7th Floor, Edison, NJ 08837 or online at givehmh.org/Donate) or Monmouth University (Monmouth University, c/o University Advancement, 400 Cedar Avenue, West Long Branch, NJ 07764 or online at www.monmouth.edu/Schiavetti).