Terence E. Adderley Jr.: Business
in the Blood
Some
grandfathers teach grandsons to fish. Terence E. Adderley
Jr.'s taught him to read The Wall Street Journal. Mr.
Adderley, known as Ted, was born with business in his
blood and relished it. His grandfather, William Russell
Kelly, founded Kelly Services, a temp agency based in
Michigan.
By the time Mr. Adderley was 12, he was picking his
own stocks. He went to his grandfather's university
&emdash; Vanderbilt &emdash; and joined his grandfather's
fraternity, Sigma Chi. In the summers, he worked at Kelly
and practiced dry wit. He teased co-workers about trivial
mistakes by signing letters to them in a script similar
to the company's chief executive &emdash; his father,
Terence E. Adderley.
At 22, he found Wall Street an easy fit. He shared a
preference for French cuffs and collars with his new
boss, the veteran Wall Street money manager David
Alger.
Mr. Adderley planned ahead and family always figured
prominently. His sister Elizabeth's 17th birthday fell in
October. From her brother, she received a watch with a
blue band (her favorite color) and gloves. Mr. Adderley
had bought them for her by August, along with a pink
scarf. It was not pashmina. "He didn't care for
pashmina," said Mr. Adderley's mother, Mary Beth. "If he
was going to buy something for his sister, it was going
to be cashmere."
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