[3] Following the death of Elliott Averett,[4][5] was the chairman and chief executive from 1982 until 1998 and remained on the board until 2003.
Also, the bank's net annual income increased from $58 million to $1.1 billion.
[2] On April 7, 2005, The Bank of New York Company announced that Bacot had died earlier that day from cardiac arrest at his home in Montclair, New Jersey, at age 72.
[6] Bacot died on April 7, 2005, due to cardiac arrest.
He is survived by his wife, Shirley Schou; two daughters, Susan Bacot and Betsy Bacot-Aigner; and two grandsons.