PHILADELPHIA – Ihor Alexander Shust, a Ukrainian community activist and a former senior vice-president of Wells Fargo, died peacefully at home on November 20 after a long illness. He was 87.
Born in Ukraine in 1932, he came to the United States as an adolescent and settled in Philadelphia. He graduated from Wharton Business School at the University of Pennsylvania, and subsequently completed the Graduate School of Credit and Financial Management at Harvard School of Business.
Mr. Shust then quickly rose through the ranks of a diversified career in banking, first at Philadelphia National Bank, followed by CoreStates Bank, then Wells Fargo.
As senior credit officer, Mr. Shust strengthened the analytical credit process, improved monitoring of problem loans, and guided relationship managers and lenders in renegotiating collateral and credit terms during several banking crises.
His international assignments included expanding the commercial banking business with Latin American countries, developing credit policy and risk controls for foreign banks, as well as directing teams of bankers – which led to several major trade transactions for the export of U. S. commodities to Asian countries.
After retirement from Wells Fargo, Mr. Shust consulted for banks in both the U. S. and Europe. He also developed a risk management training program for a German bank which was marketed to bankers in the less developed markets of Asia and Eastern Europe.
In addition to his professional accomplishments, Mr. Shust served on the board of the Ukrainian Educational and Cultural Center (in Jenkintown, Pa.), the Board of Trustees of Manor College, and the board of the Ukrainian Catholic Education Foundation. He chaired the Philadelphia Committee of Friends of the Ukrainian Catholic University and founded the Patriarchal Fund of the St. Sophia Society.
He also served as bank representative on the Philadelphia International Visitors Council. Mr. Shust was a veteran of the U.S. Army, having been stationed in Germany between 1955 and 1957.
He was predeceased by his wife of 56 years, Daria Pushkar Shust, and is survived by his children, Christine Fylypovych (Andrew), Tanya Shust-Temnycky and Dr. Mark Shust (Dr. Helene Kaiser); his grandchildren, Andrea Fylypovych, Alexandra Fylypovych, Laryssa Temnycky, Natalie Koziupa (Danylo), Victoria Shust and Markian Shust, Jr.; and his great-grandson, Dennis Koziupa. He is also survived by a brother, Nestor Shust (Nina).
The panakhyda and the requiem liturgy were held at the Ukrainian Catholic Cathedral of the Immaculate Conception in Philadelphia. Burial followed at St. Mary Ukrainian Catholic Cemetery in Elkins Park, Pa.
In lieu of flowers, contributions are requested to support the Ukrainian Catholic University in Lviv. They may be sent to: Ukrainian Catholic Education Foundation, 2247 W. Chicago Ave., Chicago, IL 60622.
Source: Fletcher Nasevich Funeral Home.