Louis Banks, a former editor of Fortune magazine and former editor of Time Inc., died Sunday at his home in Naples, Fla. He was 77

The cause was congestive heart failure, Fortune said in a statement yesterday.

Mr. Banks, when began in 1945 as a correspondent in Los Angeles office. He was editor of Fortune from 1965 to 1970 and as editor from 1970 to 1973, he occupied the second position in the editorial Time Inc.

He wore a number of new businesses, especially money Magazine. It as a member emeritus of the Corporate Board reached in the year 1987, when he reached the age of 70.

Mr. Banks was in Pittsburgh was born and raised in southern California, where he studied economics at UCLA during the Second World War, he was Marine pilot in the Pacific with the rank of lieutenant.

In 1969, he took a sabbatical to study at Harvard University as a Nieman Fellow Research. Kehrte it Time Inc, whether tenders Editorial Director’s Post, with a seat on the company.

In 1973, he was a visiting professor at Harvard’s Graduate School of Business Administration.

Mr. Banks leaves his wife, Mary Campbell banks, four son, Robert L., William C. and Theodore R., a daughter, Margaret Czekaj banks, and eight grandchildren.