Paul Trowbridge Gillespie Jr.

1947 - 2025

Paul Trowbridge Gillespie, Jr., died on Friday, September 5, 2025, at his home of 48 years, surrounded by his family and caregivers.

Trow never met a stranger. Once he ran into legendary Alabama quarterback, Kenny Stabler (whom he did not know), and told Kenny that he helped make him an All American. Bewildered and slightly annoyed, Stabler asked "How so?" Trow proceeded to tell him that he played defensive back for Vanderbilt against him, and Stabler put up 42 points that game. They shared a good laugh together. Once again, Trow had turned an awkward moment into one of his classic connections.

Trow made you feel like you were the only person in the room. His joy of life was contagious, and nothing mattered more to him than being surrounded by his family and friends. Weekly family cookouts with the Gillespie, Henderson and Morrow clans were legendary. And always, the more, the merrier! He would pour you a glass of wine twice the size you needed and start the conversation with "Let me tell you something." If you asked him how he was doing, he would reliably respond "Never Better!" And he meant it. His boys' friends could never forget what would happen if they said "Hey, Mr. Gillespie." The response was always, "You better save that hay-you might have to marry a mule!"

He was born in Morristown, New Jersey on June 6, 1947 and moved to Memphis shortly thereafter. It was the beginning of a lifelong love with the city he would call home for the next 77 years.

He was the son of Paul Trowbridge Gillespie and Dorothy Anderson Gillespie, who predeceased him.

Trow attended Presbyterian Day School and then Memphis University School where he excelled as an athlete on both the football field and the basketball court. He played for legendary MUS coaches Jake Rudolph and Jerry Peters and was part of Coach Peters' first MUS basketball team in the 1964-1965 season.

Trow earned a football scholarship to Vanderbilt where he played on the 1965 freshman team and later started three years as a defensive back. His first game as a starter was against Alabama at Legion Field. After graduating from Vanderbilt, Trow moved back to Memphis to start his career at First Tennessee Investment Management while simultaneously serving in the National Guard. He was proud of his National Guard service but freely admitted if his unit had been sent to active duty, the casualty rate no doubt would have been 100 percent! It was also during this period when Trow met the love of his life, Elizabeth, or "Drum", as they affectionally called each other, and they were married for 47 years. In 1975, Trow and others left the bank and co-founded Southeastern Asset Management. In 1985, he left Southeastern to co-found NewSouth Capital Management.

He built many relationships at NewSouth with colleagues and clients, and he treasured his forty years at the firm. Trow often told his boys that he felt like the luckiest man in the world to have the privilege of waking up every morning excited to head to work.
Outside of his family and friends, Trow dedicated himself to a life of service. He truly believed in making the city of Memphis a better place for all of us. While Trow was proud of his business accomplishments, what mattered most was giving back to his community. Luke 12:48 states "To whom much is given, much is required," and he exemplified this passage throughout his life.

A lifelong member of St. John's Episcopal Church, he served as Senior Warden on the Vestry, helped lead the campaign to build the Parish Life Center, and contributed to numerous stewardship efforts. He served as Chairman of the Board of MUS and was a board member for over thirty years. He led the campaign to build the campus center and new upper school in the early 2000s. He served two terms as Chairman of the Board for ArtsMemphis and was on the board for over 45 years. He was also a Chairman of the Baptist Memorial Health Care Corporation Community Advisory Board and a Chairman of the Trezevant Manor Foundation. He was President of the Liberty Bowl in 1986 and served on its selection committee for many years.

Surviving family are his wife, Elizabeth Johnston Gillespie; three sons Paul Trowbridge Gillespie III and wife Paige, Stuart Johnston Gillespie and wife Alexis, and John Marston Gillespie and fiancé Mackenzie; three grandchildren, Bailey Elizabeth Gillespie, Paul Trowbridge Gillespie IV, and Grace Hastings Gillespie; his sister Grace (Gaye) Gillespie Henderson and husband Haywood; and nine nieces and nephews who loved their "Uncle T."

His family would like to thank his caregivers during the last years of his life: Tasha and Jamecka Donley and Bettie Love.

The family will receive friends from 5-7 o'clock in the sanctuary of St. John's Episcopal Church Tuesday evening, September 9th. Services will be held at St. John's Episcopal Church on Wednesday, September 10th at 1PM.

In lieu of flowers, memorials may be sent to St. John's Episcopal Church, Memphis University School, ArtsMemphis, Trezevant Manor Foundation, or the charity of the donor's choice. Canale Funeral Directors has charge.