Malcolm Lee Wallace Jr., of Fairfield, died peacefully in his sleep on Monday morning, January 5, 2009 after a prolonged fight with cancer. Lee was born in New Haven and raised in Wallingford, Connecticut. He was a graduate of The Choate School and Yale University, class of 1951. After several years at the Wallace Silversmith Company he joined Morgan Guaranty Trust Company in New York City to begin a 30+ year career in commercial and private banking in New York and Connecticut.  He retired from Fleet-Shawmut National Bank in Bridgeport in 1996.Lee was a long-time resident of Fairfield and an avid sailor, boater and golfer.  He was an active member of Trinity Episcopal Church, the Pequot Yacht Club, the Brooklawn Country Club, the Fairfield Beach Club, the Fairweather Yacht Club and the Bachelor's Comfort and Married Men's Retreat. Lee is survived by his wife of 54 years, Sally; his son John and his wife Susan of Middletown, Rhode Island; his son Geoffrey and his wife Cindy of Southport; and, his five grandchildren, Lucy, Peter, Gordon, Emery and Jack.  His sister Anne resides in Virginia. A Memorial Service will be held Friday, January 9th, at 3:00 pm at Trinity Church, 651 Pequot Avenue, Southport. Interment will be private at the convenience of his family. In lieu of flowers the family requests that donations be made to Operation Hope, 636 Old Post Road, Fairfield, CT 06824 or the Near & Far Aid Association, Inc. P.O. Box 1003. Southport, CT 06890. To send online condolences please visit www.redgatehennessy.com