Ranch Inc., the master developer of Lakewood Ranch, in the development’s infancy.

“She had a great vision and was instrumental in developing that vision for Lakewood Ranch. Of course, her vision turned out to be exactly right.”

Carroll was born an only child in Chicago in January 1922.

After graduating from Northwestern’s prestigious Kellogg School of Management with a master’s degree, she travelled throughout Europe in the wake of World War II before beginning a career in business.

She joined Northern Trust Co.’s Family Business division in 1967 and oversaw client assets that ranged from private businesses to oil investments and real estate.

When she retired in 1984, she was a vice president and a division chief.

Those who worked with Carroll closely say she was remarkably in tune to her surroundings, with ahands-off approach to management.

When she needed to be tough, she was hard as nails. But she also had compassion for people that few in the workplace could rival.

“What she accomplished and ahead of her time — she really was a pioneer,” said Philip Delaney, managing director and president for Northern Trust in Sarasota.

While at Northern Trust, in 1976, Carroll was asked to represent the Uihlein family — Milwaukee beer heirs and a major Northern Trust client — on the SMR board of directors.

Four years later, she was named chairman of the family business, and later SMR’s chief executive as the company transitioned from ranching to development.

“She came in as a city person with a dress, so she went out and got herself a pair of boots to mix