David Gregg III

David Gregg III, 71, senior advisor to and a founder of the Pierce Financial Corporation, a firm handling venture financing for broadcasting companies and other businesses, died February 15, 2004 of a cardiac arrest in Richmond, Va., while racing in a regional Masters swim competition. Mr. Gregg also was a founder and chair of the board of Gator Broadcasting Corporation and a director of the Monument Group of Mutual Funds. His business experience was extensive. After holding earlier leadership positions in Eastman Dillon, Union Securities & Co. and Blyth & Co., Inc., he was appointed in 1973 executive vice president of the newly formed Overseas Private Investment Corporation, an agency of the U.S. government facilitating U.S. investment in developing nations to enhance global and economic and social progress toward democratic market-based economies. His interest in overseas development continued in the 1980s when as executive vice president and director of the Pierce International Corporation, he was engaged in financing housing projects in Venezuela and other development efforts in Latin America. Born in New York City and raised in Darien, Conn., Mr. Gregg graduated from Deerfield Academy in Massachusetts, from Yale University with a B.A. in 1955 and from Columbia University Graduate School of Business with a M.B.A. in 1959. He served in the U.S. Army after college. Mr. Gregg was a member of the Mid-Atlantic Venture Capital Association and a former member of the New York Society of Security Analysts. In addition he was a member and former director of the Ontcora Club, a member of the New York Amateur Ski Club and a member of the Chesapeake Bay Yacht Club. An avid amateur athlete, Mr. Gregg enjoyed skiing and tennis and was an active member of the Fairfax County Masters Swim Team, through which he was nationally ranked in top 10 for Masters breaststroke. Mr. Gregg's first marriage to May Foster Bowers ended in divorce. Mr. Gregg lived in Arlington, Va. with his wife, Sarah Massengale Gregg, a vice president for Baxter Healthcare Corporation. He is also survived by two children from his first marriage, Tina Gregg Barkstrom of Richmond, Va. and Dr. David Gregg IV of San Francisco; his brother, Arthur of Chapel Hill, N.C.; and two grandchildren. A memorial service will be held at 11 a.m. on February 21 at St. Mary's Episcopal Church, Arlington, Va. Interment will be in the family plot in Easton, Md. In lieu of flowers, memorial contributions in memory of David Gregg may be sent to Deerfield Academy, Alumni Office, Deerfield, Mass. 01342; or to Yale University Office of Development, PO Box 805, New Haven, Conn., 06503-0805; or to Dr. Jim Miller, President, U.S. Masters Swimming Endowment Fund, P.O. Box 10, Noblesville, Ind. 46061.