Instead, he became an analyst for Morgan Stanley in New York. Some years later he moved to the Princeton area and joined First Trenton National Bank (the predecessor of New Jersey National and CoreStates/New Jersey National) where he advanced from assistant cashier to CEO before his retirement in 1993.
The Family: Coby Gibson '17, Peter Gibson, Nadia Wallace, Jack Wallace '48, Happy Wallace, Chris Wallace '80, and Margie Wallace Gibson, '84
Family Ties
Mr. Wallace met his wife Happy in October 1958. Their first date spanned a weekend that included the Princeton/Dartmouth football game, “lunch on a snowy day” at the Stockton Inn, and a Rangers hockey game. They were engaged six weeks later and married within 10 months. Fifty-four years later, they still radiate a special glow in each other’s company. The Wallace family history has been interwoven with that of the school for four generations. Mr. Wallace’s mother, Margaret Cook, was a 1927 MFS alumna who co-founded The Outgrown Shop to fund scholarships. Her husband, John H. Wallace, became a PCD trustee and raised money for the school’s first gymnasium/auditorium during the years their sons, Jack and Bill ’50, were students there. Jack’s three children attended PDS: John, Jr. ’78, Chris ’80, and
Margie Wallace Gibson ’84, who now teaches third grade there. Three of his grandchildren are alumni: Christopher ’10, Katie ’11, and Connor Gibson ’12, all currently students at Dartmouth, their parents’ alma mater. Their brother Coby is a PDS freshman. Ever the banker, Mr. Wallace calculates the family will mark an unenviable milestone this year when it pays its 100th tuition to the school. The quiet generosity of the Wallace family has enriched the educational experience of MFS, PCD, and PDS students in ways that cultivate the mind, body and spirit. The greenhouse, which underscores the school’s early commitment to the natural environment, was given in memory of Mr. Wallace’s sister Penny ’69, who passed away in 1959. After the tragic death of their son in 1990, Mr. and Mrs. Wallace created the John D. Wallace, Jr. ’78 Memorial Guest Artist Series Fund that supports “Imagine the Possibilities,” an innovative program that annually brings creative artists to school to work with students in all three divisions. In addition, John’s classmates and friends donated funds toward the amphitheater that bears his name at the entrance to the Lower School. A sampling of other gifts includes the Wallace Family Scholarship, music practice rooms in memory of Mr. and Mrs. Wallace’s mothers, and new lighting in the art gallery donated by Chris to honor his parents’ 50th wedding anniversary. Mr. Wallace may have “cycled off ” the Board, but his influence is apparent every day.
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A New Role
“Jack knows the critical role our school has played in the lives of countless children and families, and he understands its vital presence in our community,” Mr. Stellato says. “He has constantly reminded us of our strength, our purpose, and our duty. Personally, I will miss terribly his optimism, courage, and broad perspective.” Fortunately, Mr. Stellato may still be able to draw on those qualities. With a glint in his eye, Mr. Wallace reminds Ms. Cole and Mr. Stellato not to rest too easily since, as Trustee Emeritus, he is still entitled to attend Board meetings. After so long, he may find the opportunity irresistible. From left: Jack Wallace speaks to guests at a party in his honor; middle, Sam Lambert, Paul Stellato, and David Scott; right, Nancy Malkiel, Chris Cole, Jack Hall, and Jay Chandler
Fall 2013