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1692 - John Campbell of Lundie, Scotland, set up business as goldsmith-banker at sign of the Three Crowns in Strand, London; 1708 - George Middleton, Scottish goldsmith, made partner (1712 - Campbell died, Middleton married Mary Campbell, daughter); 1727 - George Campbell (son) joined business; 1744 - David Bruce joined Bank; 1747 - Middleton died, surviving partners called themselves "Bankers of 59 Strand" (since 1739, goldsmithing side of business had declined since 1720s); 1755 - Coutts name first appeared in title of Bank (James Coutts, Scottish banker, married Mary Peagrum, granddaughter of founder, taken into partnership by Campbell; 1760 - Campbell died, Thomas Coutts (younger brother) joined Bank,; January 1761 - renamed James & Thomas Coutts; 1775 - James retired, name changed to Thomas Coutts & Company; 1822 - Thomas died, his estate and 50% share in Bank passed to second wife, Harriot (later Duchess of St Albans), senior partner; name changed to Coutts & Co.; 1837 - Angela Burdett (24, youngest of Thomas’ grandchildren), inherited interest in Trust which included half-share in Bank (forbade from marrying a foreigner, interfering in running of business); Angela Burdett-Coutts seen as public face of Bank in Victorian period; June 1892 - Bank dissolved partnership, became unlimited liability company; 1904 - Bank moved to 440 Strand (after 165 years at 59 Strand); 1914 - took over business of City bankers, Robarts, Lubbock & Co.; created Bank’s first branch (15 Lombard Street), gained seat in Clearing House; 1919 - amalgamated with National Provincial & Union Bank of England Ltd.; 1920s - one of first banks to bring in machine-posted ledgers; 1963 - first British bank to have fully computerised accounting system; January 1969 - merged with Westminster Bank and National Provincial; became part of NatWest Group; October 1990 - Coutts Group created (merger of subsidiaries owned by Coutts, NatWest); 2000 - NatWest Group acquired by The Royal Bank of Scotland, established Coutts as private banking arm; 2003 - acquired Bank von Ernst; January 1, 2008 - Coutts international businesses renamed RBS Coutts; offices around the world.

1800 - Alexander Brown, Irish immigrant from Ballymena, Northern Ireland, former auctioneer in Belfast linen market, established Alexander Brown, Irish linen import business in Baltimore, MD (changed to Alexander Brown & Sons in 1810 when third son made partner); also known as merchant bankers (dealers in Sterling Exchange, ship owners, issuers of letters of credit to other dry goods merchants for import of goods); 1804 - organized Baltimore Water Co.; September 3, 1805 - William (oldest son) became partner in business; renamed Alexander Brown & Son; 1808 - George (second son) became partner; 1810 - William Brown sent to England, established business in Liverpool under name William Brown & Co.; John (third son) joined business; renamed Alexander Brown & Sons; October 10, 1818 - John A. Brown (third son) sent to Philadelphia to open John A. Brown & Co., branch office of Alexander Brown & Sons to be closer to customers in Maryland, adjacent states; 1839 - renamed Brown Brothers & Co.; 1825 - William Brown joined by partner, Joseph Shipley; business financed merchants shipping goods between Britain, United States, other parts of Europe and Americas; 1825 - James Brown (youngest son) sent to New York, after opening of Erie Canal made New York center of export/import trade, opened office of Brown Brothers & Co.; 1827 - Alexander Brown helped organize Baltimore & Ohio Railroad; 1837- William Brown & Co. name changed to Brown Shipley & Co. (annual sales exceed 10 million pounds); 1839 - Alex. Brown & Sons became separate banking concern; 1918 - partnership between Brown Shipley, Brown Brothers & Co. ended; January 1, 1931 - W. A. Harriman & Co. merged with Brown Brothers & Co., formed Brown Brothers Harriman; oldest, largest partnership bank in America; 1992 - Brown Shipley & Co. Ltd. acquired by European bank KBL, joined its group of Private Bankers; April 1997 - acquired by Bankers Trust Co. for for $1.7 billion; November 1998 - Bankers Trust acquired by Deutsche Bank; 2005 - KBL European Private Bankers now owned directly by KBC Group NV, one of Europe's largest financial companies.

1819 - Philip Cazenove joined business of John Menet (brother-in-law); 1823 - became partners; 1835 - Menet died, went into partnership with Joseph Laurence and Charles Pearce; branched out on his own; 1854 - formed partnership with his son and nephew; mid 1930s - one of City of London's pre-eminent stockbroking partnerships; April 2001 - firm incorporated; November 5, 2004 - combined with JPMorgan's UK investment banking business, owned jointly, called JPMorgan Cazenove.

1832 - Col. Washington Romeyn Vermilye and George Carpenter formed banking partnership, Carpenter & Vermilye, at 32 Wall St.; 1862 - name changed to Vermilye & Co.; 1877 - William Augustus Read joined firm; 1886 - became partner; 1906 - took over firm, changed bond brokerage firm's name to William A. Read & Company; 1913 - Clarence Dillon (born Clarence Lapowski in Texas; Dillon - mother's maiden name) joined firm; 1916 - became partner, acquired majority interest after Read's death.

William A. Read - Dillon, Read (http://www.ubs.com/1/ShowImage/about/history/1990_2000/1997/dillon_read?contentId=26500)

1837 - Francis Martin Drexel (46) opened currency brokerage firm in Louisville, KY; 1838 - moved business to Philadelphia, PA; 1846 - U.S. government asked Drexel to underwrite the Mexican War (1846-48) with an issuance of $49 million in war bonds; 1847 - oldest sons made partners, renamed Drexel & Company; 1851 - established banking affiliate, Drexel, Sather & Church in San Francisco (closed in financial panic preceding Civil War); 1868 - Drexel, Harjes & Co. founded in Paris; 1871 - Drexel, Morgan & Co. (J.P. Morgan as junior partner) founded in New York City; 1893 - renamed J. P. Morgan & Co. at Anthony Drexel’s death.

Francis Martin Drexel - founder Drexel & Co. (http://www.picturehistory.com/ images/products/0/5/5/ prod_5571.jpg)

1844 - Henry Lehman, immigrant from Germany, opened H. Lehman, small dry goods shop in Montgomery, AL; 1847 - Emanuel joined business, renamed H. Lehman & Bro.; 1850 - Mayer (youngest brother) joined business, renamed Lehman Brothers; became brokers for buyers, sellers of cotton crop; 1858 - opened office in New York (commodity trading center of the country); expanded commodities business to include sale, trading of securities (railroad bonds); 1887 - acquired seat on NYSE; 1889 - underwrote first public offering (International Steam Pump Company); became financier to emerging retailers (Sears, Roebuck & Company, F.W. Woolworth Company, May Department Stores Company, Gimbel Brothers, Inc., R.H. Macy & Company); 1975 - acquired Abraham & Co.; 1977 - merged with Kuhn, Loeb; 1984 - acquired by American Express, renamed Shearson Lehman/American Express; 1993 - Shearson Lehman divested; 1994 - became independent, renamed Lehman Brothers Holding Inc.; 1999 - surpassed $1 billion in net income.

1848 - Alexandre, Simon and Elie Lazard founded Lazard Freres as dry goods business in New Orleans; moved San Francisco, opened business selling imported goods, exporting gold bullion; became involved in financial transactions, expanded into banking, foreign exchange businesses. 1852 - opened office in Paris (owned by individual partners, relations of their founders); 1870 - opened office in London (majority-owned by Pearson plc for much of 20th century); 1876 -  concentrated on financial services; 1880 - Alexander Weill, founding brothers’ cousin, assumed control; 1944 - New York House (owned by individual partners, relations of their founders) led by André Meyer; 1956 - Michel David-Weill, descendant of founding families, joined Lazard Frères et Cie. in Paris; 1969 - established asset management business in Paris; 1970 - New York House established Lazard Asset Management (institutional asset management) to complement financial advisory business; 1977 - David-Weill became senior partner; January 3, 2000 - Houses of Lazard merger to form Lazard LLC, single global firm; Pearson sold interests to predecessor of Eurazeo S.A.

June 5, 1856 - Alfred Escher founded Schweizerische Kreditanstalt (later known as Credit Suisse) to finance expansion of railroad network (Nordostbahn/North-East Railway), further industrialization in Switzerland; initial stock issued with value of 3 million francs (total value of subscriptions rose to 218 million francs in 3 days).

Alfred Escher (Credit Suisse) - https://emagazine.credit-suisse.com/data/_product_images/_articles/185701/tmb_escher_144.jpg

November 13, 1858 - Gustav, Charles, Albert, Emil Sutro (relatives of Adolf Sutro) founded Sutro & Co. in San Francisco to engage in general banking; oldest investment banking firm in San Francisco; oldest New York Stock Exchange Member Firm west of Mississippi; largest full-service regional investment firm in California; 1986 - acquired by John Hancock Mutual Life Insurance Co. (part of Freedom Securities Corporation subsidiary); April 2000 - Freedom Securities Corporation name changed to Tucker Anthony Sutro; October 2001 - acquired by Royal Bank of Canada for $600 million, merged into Dain Rauscher unit; ninth largest full-service securities firm in United States (nearly 2,100 retail representatives).

January 1, 1861 - Jay Cooke opened private banking house of Jay Cooke & Company in Philadelphia.

April 1865 - Henry P. Kidder, Francis H. Peabody, Oliver W. Peabody formed Kidder, Peabody & Co. as  reorganization of J. E. Thayer & Brother (founded 1824); March 1931 - reorganized, new partnership formed: Chandler Hovey, Edwin Sibley Webster Jr., Albert H. Gordon.

Oliver W. Peabody - Kidder, Peabody (http://books.google.com/books?id=hxJCAAAAIAAJ&pg=PA49&dq=1865+%22Kidder,+%20Peabody%22&lr=&as_brr=0&client=firefox-a#PPA48-IA1,M1)

Nathanial Thayer II - Kidder, Peabody (http://books.google.com/books?id=rw9DlutJwoEC&pg=PA123&img=1&zoom=3&hl=en&sig=ACfU3U2TPsElmpHA-b_qc7uIiAGuw11O5g&w=575)

1867 - Abraham Kuhn, Solomon Loeb founded Kuhn, Loeb & Co. (formerly successful merchandisers in Cincinnati, OH); January 1, 1875 - Jacob Schiff, Loeb's son-in-law, joined firm; 1977 - merged with Lehman Brothers, formed Lehman Brothers, Kuhn, Loeb Inc.; 1984 - acquired by American Express, renamed Shearson Lehman/American Express; name dropped.

Jacob Schiff - Kuhn, Loeb (http://www.nndb.com/people/214/000134809/JacobSchiff.jpg)

1869 - Marcus Goldman started Marcus Goldman & Co., on Pine Street in lower Manhattan, as broker of IOUs; Goldman's youngest daughter, Louisa, married Samuel Sachs, son of close friends; 1882 - Sachs joined business; changed name to M. Goldman and Sachs; 1885 - Henry Goldman (son), Ludwig Dreyfuss (son-in-law) joined firm as junior partners; name changed to Goldman Sachs & Co.; 1887 - began relationship with British merchant bank Kleinwort Sons (entry into international commercial finance, foreign-exchange services, currency arbitrage); 1894 - Henry Sachs joined; 1896 - joined New York Stock Exchange; 1904 - Arthur and Paul Sachs (Sam's sons) joined firm; 1906 - managed first IPO, for United Cigar Manufacturers; co-managed Sears Roebuck's initial public offering; 1956 - co-managed IPO of Ford Motor Company; 1981 - acquired commodities-trading firm of J. Aron & Company; 1999 - went public, name changed to The Goldman Sachs Group Inc. (Henry Paulson, Jr. as sole chairman, CEO).

January 20, 1870 - Victoria Woodhull,  Tennessee Claflin (sister ) opened Woodhull, Claflin & Co., nation's first brokerage firm run solely by women (part product of the sisters' friendship with rail baron Cornelius Vanderbilt).

September 18, 1873 - Jay Cooke & Co. collapsed, due mainly to decision to fund second transcontinental railroad line; one of country's most reputable brokerage houses; thirty-seven banks, two brokerage houses closed; losses increased, NYSE forced to shut for over a week; Secretary of the Treasury infused economy with $26 million in paper money; Panic (of 1873) did not subside, economy slumped through end of decade.

December 1873 - Charles Dennis Barney (Jay Cooke's son-in-law), and Jay Cooke, Jr. reorganized Jay Cooke & Co., formed Charles D. Barney & Co. in Philadelphia, PA (successor firm to Jay Cooke & Co.); 1892 - Edward Brinton Smith, railroad and utility banker, founded Edward B. Smith & Co.; December 1937 - Charles D. Barney & Co., Edward B. Smith & Co. merged, formed Smith Barney & Co.

1879 - Leopold Cahn founded Leopold Cahn & Co. in New York City; 1886 - Jules S. Bache (nephew) made partner; 1892 - Bache took control, renamed company J.S. Bache & Co.; 1944 - name shortened to Bache & Co.; 1966 - $90 million gross revenues vs.$227 million for Merrill Lynch, Pierce, Fenner & Smith; 1981- acquired by Prudential Insurance Company of America.

July 1879 - Charles Cabot Jackson and Laurence Curtis opened brokerage office on Congress Street in Boston, MA; June 9, 1942 - merged with Paine Webber, formed Paine, Webber, Jackson & Curtis (22 branch offices); 1963 - moved headquarters to New York; 1970 - incorporated; 1972 - went public; 1977 - Mitchell Hutchins, Inc., leading equities research boutique; 1979 - acquired Blyth, Eastman Dillon & Co.; 1995 - acquired Kidder, Peabody Group from General Electric Company.

1880 - William A. Paine, Wallace G. Webber, formerly clerks at Boston's Blackstone National Bank, established Paine & Webber, brokerage firm, at 48 Congress St. in Boston; May 1881 - admitted Charles H. Paine as partner, changed name to PaineWebber & Company; June 29, 1942 - merged with Jackson & Curtis, formed Paine, Webber, Jackson & Curtis; November 3, 2000 - merged with UBS AG.

1882 - Jules Bache renamed uncle's brokerage operations J. S. Bache & Co.; 1945 - renamed Bache & Co.; 1981 - acquired by Prudential Insurance.

1887 - Gen. Albert Gallatin Edwards retired from post of assistant secretary of the Treasury for Sub-Treasury bank in St. Louis (appointed made by President Abraham Lincoln); founded A.G. Edwards & Son Stock and Bond Traders with his son, Benjamin Franklin Edwards, in St. Louis, MO; May 31, 2007 - agreed to be acquired for $6.8 billion by Wachovia Corp. (3,300 brokerage locations nationwide, $1.1 trillion in client assets, 15,000 stockbrokers).

1904 - Edward F. Hutton, Franklyn Laws Hutton (brother), Gerald M. Loeb founded E. F. Hutton & Co. in San Francisco, CA; 1957 - Gerald Loeb established Gerald Loeb Awards for Distinguished Business and Financial Journalism to encourage quality reporting in areas of business, finance, economy in order to inform, protect private investors, general public (presented by UCLA Anderson School of Management since 1973 to recognize writers, editors, producers of both print, broadcast media for significant contributions in this field; highest honors in business journalism); 1970 - Bob Fomon became CEO; 1980 - revenue of $1.1 billion, profits totaled $82 million, employed 6000 brokers; May 2, 1985 - pled guilty to 2000 counts of mail and wire fraud associated with over-drafting checking accounts costing banks millions of dollars; company agreed to pay fine of $2 million, compensate government $750,000 for its investigation expenses, make restitution to defrauded banks; December 1987 - acquired by Shearson for $29.25 per share.

Edward Francis Hutton - E. F. Hutton Co. (http://upload.wikimedia.org/wikipedia/commons/thumb/e/ef/E.F._Hutton%2C_c._1920.jpg/180px-E.F._Hutton%2C_c._1920.jpg)

1910 - Arthur, Herbert, Percy Salomon established Salomon Brothers with $5,000 in savings, small family loan; joined with Morton Hutzler (established firm with seat on New York Stock Exchange), formed Salomon Brothers & Hutzler; registered with U.S. Treasury, became one of first primary dealers in U.S. government securities; November 1963: Billy Salomon became first managing partner; 1970 - renamed Salomon Brothers, Inc.; 1981 - merged with Philbro Corp., became PhilbroSalomon Inc.; 1986 - renamed Salomon Brothers; 1997 - acquired by Travelers Group Inc. for $9.2 billion, merged into Smith Barney unit.

1912 - Arthur James Nesbitt (former dry goods salesman, then employee of Lord Beaverbrook's Royal Securities Corporation) and Peter Thomson (former pickle salesman for the Canadian arm of the H. J. Heinz) formed Nesbitt, Thomson and Company in Toronto; simultaneously, opened offices on St. James Street in Montreal, Hamilton, Ontario; provided financing for mining, natural resource industries; underwrote stock, bond issues for many new electric power generating companies; 1925 - established Power Corporation of Canada as holding company for their substantial equity interests in number of major electric utilities; 1927 - acquired Ogilvy department store in Montreal (son James Aird ran for more than fifty years); 1954 - Arthur Dean Nesbitt (son) took helm of brokerage/investment business.

January 6, 1914 - Charles Merrill formed Charles E. Merrill & Co., brokerage firm, which Edmund C. Lynch joined; May 19, 1914 - opened office at 7 Wall Street; October 15, 1915 - name changed to Merrill Lynch & Co.; 1930 -  sold retail brokerage business and branches to E. A. Pierce & Co. [founded 1885]; 1940 - merged with E.A. Pierce & Cassatt; 1941 - mergeed with Fenner & Beane (offices in 92 U. S. cities); 1958 - name of Winthrop H. Smith, Sr., chairman, added to firm's name: Merrill Lynch, Pierce Fenner & Smith; June 23, 1971 - went public.

1921 - Clarence Dillon changed name of William A. Read & Company to Dillon, Read & & Co.; 1924 - organized United States and Foreign Securities Company (US&FS), most prominent closed-end investment company in 1920s; 1928 - organized second investment company, United States and International Securities Corporation (US&IS); April 1981 - Sequoia Ventures (Bechtel family) acquired interests of C. Douglas Dillon (son); 1985 - reacquired Bechtel stake; 1986 - acquired by Travelers Corporation; 1991 - acquired by Barings PLC (40% for $78 million) and management (60% for 39 million); March 1995 - Barings PLC acquired by Internationale Nederlanden Groep NV (ING); May 1995 - Dillion Read management repurchased 15% of Barings's 40% stock for $30 million; May 15, 1997 - announced agreement to be acquired by Swiss Bank Corporation (SBC) for approximately $600 million; integrated into SBC Warburg Division, renamed SBC Warburg Dillon Read.

1923 - Joseph A. Bear, Robert B. Stearns, Harold C. Mayer founded Bear Stearns & Co. with $500,000 in capital as equity-trading firm; 1933 - hired Salim B. Lewis to manage institutional bond trading (later became CEO, chairman); opened first regional office in Chicago; 1955 - opened first international office in Amsterdam; 1978 - Alan "Ace" Greenberg named chairman; 1985 - Bear Stearns Companies, Inc. formed as holding company; went public; 2001 - James E. Cayne succeeded Greenberg as Chairman.

Bear, Stearns, Mayer (top left) - Bear Stearns & Co. (http://graphics8.nytimes.com/ images/ 2008/03/17/ business/ 20080317_BEAR_ STEARNS_GRAPH.jpg)

1924 - Dean G. Witter, Guy Witter (brother), Jean and Ed Witter (cousins), Fritz Janney (brother-in-law) founded Dean Witter & Company, retail brokerage firm in San Francisco, CA; 1938 - established national research department; 1945 - one of first retail securities firms to formally train account executives; 1962 - became first firm to use electronic data processing; 1969 - about 80 branches in U.S., Canada; largest investment firm on West Coast; 1978 - merged with Reynolds & Co.; renamed Dean Witter Reynolds; 1981 - acquired by Sears Roebuck for $661 million; 1986 - launched Discover Card (credit card); 1993 - 20% of company spun off, 80% distributed to shareholders; renamed Dean Witter, Discover and Company; May 31, 1997 - merged with Morgan Stanley Group Inc. in $10 billion deal; largest U.S. securities firm measured in terms of market value; renamed , Dean Witter, Discover & Company; 1998 - renamed Morgan Stanley Dean Witter.

Dean Witter - retail brokerage (http://www.deanwitterfoundation. org/ images/deanwitterportrait.gif)

1932 - First National Bank of Boston formed investment banking division; became independent firm after passage of Glass-Steagall Act ( February 27, 1933); first publicly-owned major investment banking firm; 1946 - Mellon Securities Corporation, former investment banking arm of Mellon Bank, merged with First Boston Corporation; 1978 - began London operations with 50-50 investment banking joint venture with Financière Crédit Suisse (known as Credit Suisse First Boston); 1988 - Credit Suisse acquired 44% stake in First Boston; name changed to CS First Boston; 1989 - bailed out First Boston after collapse of junk bond market; 1990 - acquired controlling interest; 1996 - acquired remaining stake of CS First Boston from management; January 1, 1997 - renamed investment bank Credit Suisse First Boston (CSFB, one global brand); parent company renamed Credit Suisse Group; 2001 - acquired Donaldson, Lufkin & Jenrette for $13 billion; January 16, 2006 - First Boston name dropped.

June 16, 1933 - President Franklin D. Roosevelt signed (second) Glass Steagall Act (Banking Act of 1933) as emergency response to failure of nearly 5,000 banks during Great Depression (bank failures resulted in losses to depositors of about $1.3 billion between 1929-1933); separated commercial from investment banking; tightened regulation of national banks to Federal Reserve System; prohibited bank sales of securities; created Federal Deposit Insurance Corporation (FDIC) to insure bank deposits with pool of money appropriated from banks); November 12, 1999 - President Bill Clinton signed Gramm-Leach-Bliley Act (Financial Modernization Act of 1999); repealed Glass-Steagall Act, deregulated financial markets

  Senator Carter Glass (D-VA, third from left); Representative Henry B. Steagall (D-AL, fourth from right) (http://www.senate.gov/artandhistory/history/resources/graphic/large/Glass.jpg

1935 - I. W. "Tubby" Burnham founded Burnham & Company with $100,000 in capital ($96,000 borrowed from his grandfather, founder of I.W. Harper, Kentucky distillery); 1967 - merged with Drexel & Co.; former Drexel Burnham; 1976 - merged with Lambert Brussels Witter (controlled by Belgian Bank Brussels Lambert); renamed Drexel Burnham Lambert, Inc.

September 16, 1935 - Henry S. Morgan, Harold Stanley, former partners in J. P. Morgan & Co.; opened Morgan Stanley on 19th floor of 2 Wall Street; 1936 - managed $1.1 billion in public offerings, private placements in first year (24% market share); 1942 - joined NYSE; 1971 - entered sales, trading business, established M&A division; 1975 - formed Morgan Stanley International in London; 1977 - merged with Shuman, Agnew & Co., entered retail stock brokerage; December 12, 1980 - led Apple's IPO (5 million shares offered at $22/share), largest IPO since 1964; 1986 - listed on NYSE; 1996 - acquired Van Kampen American Capital mutual funds; February 5, 1997 - merged with Dean Witter, Discover & Co.; April 2004 - acquired Barra (leading global provider of benchmark indices, risk management analytics); August 2004 - co-managed $1.9 billion Google IPO (largest Internet IPO to date, largest auction-based IPO in history); July 2006 - represented HCA in $33 billion sale to Bain Capital, KKR, Merrill Lynch (largest LBO to date); July 2006 - completed $10.4 billion OJSCOC Rosneft IPO (Russia's largest state-owned oil and gas company, Firm's largest IPO to date).am

1940 - Former Drexel partners Edward Hopkinson, Jr., Thomas S. Gates, Jr., several associates, acquire rights to Drexel name, founded investment bank with initial capital investment of $1 million; 1965 - merged with Harriman, Ripley and Company, formed Drexel Firestone Inc.; 1967 - merged with Burnham and Company; formed Drexel Burnham; 1976 - merged with Lambert Brussels Witter (controlled by Belgian Bank Brussels Lambert); renamed Drexel Burnham Lambert, Inc.; 1981 - issued bonds for leveraged buyouts; 1982 - Frederick Joseph, formerly head of company's corporate finance department, took over as president; 1982-1983 - major underwriter of debt in country, of all industrial companies; 1986 - made most profits in one year of any Wall Street firm in history -$545.5 million; May 1986 - Securities and Exchange Commission charged Drexel Burnham Lambert managing director, Dennis Levine, with insider trading; 1987 - 49 percent market share of junk bond market, 78% drop in firm's earnings; December 1988 - pleaded guilty to six felony charges of illegal trading, paid $650 million in fines; February 13, 1990 - declared bankruptcy.

1951 - Max Oppenheimer, broker at Hirsch & Company, established Oppenheimer & Co.; Leon Levy invested $12,500, joined firm as partner, director of research; Jack Nash joined firm as Oppenheiner's assistant (managing directo in 1957, named president of Oppenheimer & Co. in 1974, chairman from 1979 until 1982).

1963 - Chuck Schwab, two partners launched Investment Indicator, investment advisory newsletter (3,000 subscribers paid $84 a year at its height); 1971 - incorporated First Commander Corp.; 1973 - name changed to Charles Schwab & Co., Inc.; May 1, 1975 - launched discount brokerage business; 1977 - opened office in Seattle, first branch outside of California; began offering seminars for customers; 1979 - invested in BETA mainframe system, automated transaction and record keeping system; 1983 - acquired by Bank of America for $57 million; 1985 - one millionth customer account opened; July 1987 - reacquired in $280 million management-led buyout; September 1987 -went public.

February 5, 1997 - Investment bank Morgan Stanley announced a $10 billion merger with Dean Witter.

September 25, 1997 - Travelers Group acquired Salomon Brothers for $9 billion.

December 20, 2002 - The nation's 10 biggest brokerages agreed to pay $1.44 billion and fundamentally change the way they did business to settle allegations they'd misled investors by hyping certain stocks.

October 24, 2007 - Merrill Lynch announced $8.4 billion fourth-quarter loss, most associated with losses in subprime mortgage market; biggest in its 93-year history, biggest known loss in Wall Street history; October 30, 2007 - CEO, E. Stanley O'Neal, 'retired' from company; December 24, 2007 - agreed to sell less than 10% stake: 1) $5 billion in new stock (at a discount) to Temasek Holdings (Singapore's sovereign investment company controlled by finance ministry), 2) $1.2 billion (discounted stock) to Davis Selected Advisers (Tucson, AZ), 3) will sell most of Merrill Lynch Capital, commercial finance business, for $1.3 billion to General Electric; January 17, 2008 - reported $9.8 billion fourth-quarter loss (almost matched loss reported for period by Citigroup, company three times Merrill’s size); exceeded analysts’ forecasts, reflected $16.7 billion of write-downs on mortgage-related investments, leveraged loans.

December 18, 2007 - Morgan Stanley posted fourth-quarter loss of $3.6 billion, or $3.61 a share (far surpassed analysts' expectations of $0.39 per share), first-ever quarterly loss in its 72-year history, after taking additional $5.7 billion write-down related to subprime mortgages (value reduced by $9.4 billion, one of largest devaluations on Wall Street); said would sell a $5 billion stake to China Investment Corporation (China's sovereign wealth fund), to shore up its capital = 9.9% stake; chief executive, John J. Mack, took full responsibility, said would forego bonus for 2007.

December 19, 2007 - Bear Stearns reported a steep fourth-quarter loss, the first ever in its 84-year history; lost about $854 million ($6.90 a share) for fourth quarter, compared to profit of $563 million ($4 a share) for same time last year (analysts had expected loss of $1.82 a share); wrote down $1.9 billion related to holdings in mortgages, mortgage-based securities, up from $1.2 billion anticipated last month; October 22, 2007 - Citic Securities, China’s largest investment bank (founded in 1995), invested $1 billion in Bear Stearns (6% stake), Bear took similar position in Citic; March 16, 2008 - agreed to be acquired by JPMorgan Chase for $236.2 million ($2/share) to avert a Bear Stearns bankruptcy filing, spread of crisis of confidence in global financial system; March 28, 2008 - bid raised to $10/share (JPM to bear first $1 billion of losses associated with Bear Stearns's assets, Federal Reserve to fund other $29 billion); May 30, 2008 - JP Morgan completed acquisition of Bear Stearns.


Some Wall Street executives question whether short sellers caused collapse of Bear Stearns; others complain that shorts told lies about other major firms in attempt to sink stock prices (accused of spreading rumors, persecuting companies, unsettling entire economies); short sellers dismiss idea they killed Bear Stearns, say they often get blame when things go wrong in markets; "Show me the evidence," said James S. Chanos, one of Wall Street's most prominent short sellers. "It's always easier to blame someone else, some unnamed market force than the people responsible." (source: New York Times, April 30, 2008 - http://www.nytimes.com/2008/04/30/business/30shorts.html?scp=35&sq=April%2030,%202008&st=cse)

2007 - Five biggest Wall Street firms awarded record $39 billion in bonuses to employees.

January 8, 2008 - James E. Cayne, CEO and 6% shareholder of Bear Stearns, retired as an employee of the firm.


January 15, 2008 - Subprime Cash Infusions from Foreign Investors (2007-2008)


July 26, 2008 - Compensation costs for six of seven largest brokerage firms in first half of 2008 declined by total of $9.5 billion (vs. 2007); implies aggregate decline in pay,  benefits (including bonuses - usually at least 75% of annual income for investment bankers, traders), of more than $18 billion for full year (state comptroller estimated  $33 billion paid in Wall Street bonuses in 2006 and 2007); could be biggest single-year decline in pay on Wall Street in history; bonuses for employees based in New York (about 178,000 people) could shrink by $10 billion or more (total bonuses declined by $6.5 billion in 2001); equals about $10 billion less in taxable income, several billion dollars less to be spent on apartments, furniture, cars, clothing, services; financial-services industry provides almost 25% of all income earned in New York City (= about 10%  of city’s tax revenue, about 20% of state’s tax revenue, estimated to drop by about $700 million in 2008 fiscal year).


September 15, 2008 - Lehman Brothers filed for bankruptcy protection; Merrill Lynch agreed to be acquired by Bank of America for $44 billion.


September 23, 2008 - Warren Buffett invested $5 billion in Goldman Sachs; received perpetual preferred shares which will pay 10% annual dividend ($500 million/year) which take precedence over other payments to common shareholders; Goldman has right to buy back shares at any time for 10% premium; received warrants to buy $5 billion in common stock at strike price of $115/share (can be used at any time in five-year period); Goldman's stock has fallen from Oct. 31, 2007 high of $247.92 to $12505.

September 28, 2008 -  Goldman Sachs (and Morgan Stanley) converted to deposit-taking bank holding company; ; GS became fourth-largest in United States ($20 billion in customer deposits, soon to increase to  with $150 billion); primary regulators became Federal Reserve, Office of Comptroller of the Currency (not SEC).


July 15, 2010 - Goldman Sachs agreed to pay $550 million to settle federal claims that it misled investors (had sold Abacus 2007-AC1, subprime mortgage security, to customers in 2007; had not disclosed involvement of John A. Paulson, prominent hedge fund manager, in creating product which enabled him to bet against what Goldman clients had bought); among largest settlements in 76-year history of Securities and Exchange Commission; small fraction of Goldman's 2009 reported profit of $13.39 billion).


Bankers Trust Australia), Gideon Haigh (1999). One of a Kind: The Story of Bankers Trust Australia, 1969-1999. (Melbourne, AU: Text Pub., 499 p.). Bankers Trust Australia; Investment banking; Investment banking -- Australia -- History.

(Bear Stearns), Bill Bamber (2008). Bear-Trap: The Fall of Bear Stearns and the Panic of 2008. (New York, NY: Brick Tower Press,, 350 p.). Former Senior Managing Director at Bear Stearns. Bear Stearns; Wall Street (New York, N.Y.)--history; Brokers -- United States. Tragic story of fortunes made, lost; what happened inside Bear's offices, on trading floor that led to most sensational financial crisis of our times.

(Bear Stearns), William D. Cohan (2009). House of Cards: A Tale of Hubris and Wretched Excess on Wall Street. (New York, NY: Doubleday, 480 p.). Former Senior Wall Street Investment Banker. Bear, Stearns & Co.; Investment banking --United States; Bank failures --United States; Financial crises --United States. March 2008 - fall of Bear Stearns, end of Second Gilded Age on Wall Street, period of greed, arrogance, stupidity in financial world; how combination of risky bets, corporate political infighting, lax government regulations, bad decision-making wrought havoc on world financial system; deadly combination of greed, inattention - why company’s leaders ignored danger in huge positions in mortgage-backed securities.

(Bear Stearns), Kate Kelly (2009). Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street. (New York, NY: Portfolio, 256 p.). Staff Reporter (The Wall Street Journal). Bear, Stearns & Co.; Investment banking --United States.; Bank failures --United States; Financial crises --United States. Final, frenzied 72 hours, in March 2008, as independent firm; as subprime mortgage crisis grew, firm’s key executives descended into civil war.

(Bear Stearns), Alan C. Greenberg with Mark Singer (2010). The Rise and Fall of Bear Stearns. (New York, NY: Simon & Schuster, 213 p.). Former CEO and Chairman of the Board of Bear Stearns. Bear, Stearns & Co. --History --21st century; Investment banking --United States --21st century; Subprime mortgage loans --United States --21st century; Financial crises --United States --21st century. Joined Bear Stearns in 1949, became head of firm in 1978; how collapse of company surprised him and other top executives; whom he thinks was responsible; storied career and its stunning conclusion.

Alan C. ("Ace") Greenberg - Bear Stearns (http://atmizzou.missouri.edu/jan05/images/greenberg.jpg)

(Bonbright and Company), Jennet Conant (2002). Tuxedo Park: A Wall Street Tycoon and the Secret Palace of Science That Changed the Course of World War II. (New York, NY: Simon & Schuster, 330 p.). Granddaughter of James Conant, President of Harvard. Loomis, Alfred L. (Alfred Lee), 1887-1975; Physicists--United States--Biography; Atomic bomb--United States--History--20th century; Research--New York (State)--Tuxedo Park--History--20th century; World War, 1939-1945--Science--United States. 

(Alex. Brown), Frank R. Kent (1950). The Story of Alex. Brown & Sons. Issued on the One Hundred and Fiftieth Anniversary of the Foundation of the House in 1800. (Baltimore, MD: The Company, 2 vols.). Alex. Brown & Sons; Banks and banking--Maryland--Baltimore.

 Alexander Brown (http://upload.wikimedia.org/wikipedia/en/thumb/c/cb/Alexander_Brown.jpg/175px-Alexander_Brown.jpg)

(Alex. Brown), Frank R. Kent (1975). The Story of Alex. Brown & Sons, 1800-1975. (Baltimore, MD: Alex Brown & Sons, 259 p.). Alexander Brown and Sons -- History; Banks and Banking -- Maryland -- Baltimore.

(Alex. Brown), Edwin J. Perkins (1975). Financing Anglo-American Trade: The House of Brown, 1800-1880. (Cambridge, MA: Harvard University Press, 323 p.). Alex. Brown & Sons; Banks and banking -- United States -- History -- Case studies; International finance.

(K. J. Brown Company), E. Bruce Geelhoed (1982). Bringing Wall Street to Main Street: The Story of K.J. Brown and Company, Inc., 1931-1981. (Muncie, IN: Bureau of Business Research, College of Business, and Dept. of History, 59 p.). K. J. Brown and Company--History.

(Cantor Fitzgerald), Howard Lutnick and Tom Barbash (2002). On Top of the World: Cantor Fitzgerald and 9/11: A Story of Loss and Renewal. (New York, NY: HarperCollins, 282 p.). Chairman of Firm. Cantor Fitzgerald (Firm)--History; World Trade Center (New York, N.Y.); Stockbrokers--New York (State)--New York--History; September 11 Terrorist Attacks, 2001.

(James Capel), M.C. Reed (1975). A History of James Capel & Co. (London, UK: James Capel & Co., 129 p.). James Capel & Co.; Stock Exchange (London, England).

(Cazenove), David Kynaston (1991). Cazenove & Co: A History. (London, UK: Batsford, 359 p.). Cazenove & Co. -- History; Stockbrokers -- England -- London -- History.

(City Securities), E. Bruce Geelhoed (1985). Indiana's Investment Banker: The Story of City Securities Corporation (Muncie, IN: Bureau of Business Research, College of Business : Dept. of History, College of Sciences and Humanities, 150 p.). City Securities Corporation--History; Investment  Banking--Indiana--History. 

(Coutts & Co.), Ernest Hartley Coleridge (1920). The Life of Thomas Coutts, Banker. (New York, NY: John Lane Company, 2 vols.). Coutts, Thomas, 1735-1822; Coutts family.

(Coutts & Co.), Ralph M. Robinson (1929). Coutts, The History of a Banking House. (London, UK: J. Murray, 180 p.). Coutts, Thomas, 1735-1822; Coutts & co., bankers.

(Coutts & Co.), Edna Healey (1992). Coutts & Co. 1692-1992: The Portrait of a Private Bank. (London, UK: Hodder & Stoughton, 488 p.). Coutts & co.; Banking -- private -- Great Britain. Tercentenary history of Coutts & Co.

(Credit Suisse First Boston), Randall Smith (2010). The Prince of Silicon Valley: Frank Quattrone and the Dot-Com Bubble  (New York, NY, St. Martin’s Press, 384 p.). Reporter (Wall Street Journal). Quattrone, Frank Peter, 1955- --United States --Biography; Investment bankers --United States; Investment banking --Corrupt practices --United States. Cautionary tale of ambition gone wrong; rise of foremost investment banker of Internet stock-market bubble, from back streets of South Philadelphia to peak of finance as highest paid banker on Wall Street; took some of biggest names in technology public; California-based technology banking group led most hot initial public offerings in 1999-2000); four different investigations of bubble-related misconduct, two criminal trials for obstruction of justice (mistrial, conviction in 2004); 2006 - conviction overturned by appeals court; returned to banking business.

(Dillon Read), Robert Sobel (1991). The Life and Times of Dillon Read. (New York, NY: Dutton, 420 p.). Academic (Hofstra University). Dillon, Reed & Co.--History; Investment banking--United States--History.

Clarence Dillon - Dillon, Read (http://www.ubs.com/1/ShowImage/ about/history/1990_2000/1997/dillon_read?contentId=26319)

(Drexel), Dan Rottenberg (2001). The Man Who Made Wall Street: Anthony J. Drexel and the Rise of Modern Finance. (Philadelphia, PA: University of Pennsylvania Press. Drexel, Anthony J. (Anthony Joseph), 1826-1893; Bankers--United States--Biography; Capitalists and financiers--United States--Biography; Bankers--Biography.

[Anthony J. Drexel], [no date] Anthony J. Drexel (http://www.library. drexel.edu/images/Drexelportrait.jpg)




 I. W. "Tubby" Burnham (http://www.upenn.edu/almanac/v49/n01/IWBurnham2.jpg)

(Drexel Burnham), Connie Bruck (1989). The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders. (New York, NY: Penguin, 399 p.). Milken, Michael; Drexel Burnham Lambert Incorporated; Consolidation and merger of corporations--United States; Junk bonds--United States; Stockbrokers--United States.

(Drexel Burnham), Dan G. Stone (1990). April Fools: An Insider's Account of the Rise and Collapse of Drexel Burnham. (New York, NY: D.I. Fine, 249 p.). Drexel Burnham Lambert Incorporated; Drexel Burnham Lambert Incorporated--Employees--Dismissal of; Stockbrokers--New York (State)--New York; Securities fraud--New York (State)--New York.

(Drexel Burnham), Fenton Bailey; with an introduction by Alan Dershowitz (1992). Fall From Grace: The Untold Story of Michael Milken. (Seacaucus, NJ: Carol Pub. Group, 330 p.). Milken, Michael; Drexel Burnham Lambert Incorporated; Stockbrokers--United States--Biography; Junk bonds--United States; Securities industry--Corrupt practices--United States.

(Drexel Burnham), Benjamin Stein (1992). A License to Steal: The Untold Story of Michael Milken and the Conspiracy to Bilk the Nation. (New York, NY: Simon & Schuster, 219 p.). Milken, Michael; Drexel Burnham Lambert Incorporated; Stockbrokers--United States--Biography; Junk bonds--United States; Securities industry--Corrupt practices--United States.

(Drexel Burnham), Harlan D. Platt (1994). The First Junk Bond: A Story of Corporate Boom and Bust. (Armonk, NY: M.E. Sharpe, 236 p.). Milken, Michael; Drexel Burnham Lambert Incorporated; Securities industry--Corrupt practices--United States; Junk bonds--United States.

(Drexel Burnham), Daniel R. Fischel (1995). Payback: The Conspiracy to Destroy Michael Milken and His Financial Revolution. (New York, NY: HarperBusiness, 332 p.). Professor of Corporate Law (University of Chicago). Milken, Michael; Drexel Burnham Lambert Incorporated; Junk bonds--United States; Insider trading in securities--United States.

(Fimagest), The Company (1996). La Revolution du Marche Financier Francais, 1978-1995: Naissance d’un Acteur Fimagest, Profession Gestionnaire. (Paris, FR: Public Histoire: A. Michel, 188 p.). Fimagest (Firm)--History; Securities industry--France--History--20th century.

(Gardner Rich & Co.), Chris Gardner with Quincy Troupe (2006). The Pursuit of Happyness: From The Mean Streets to Wall Street. (New York, NY: Amistad, 320 p.). CEO (Gardner Rich). Gardner, Chris (Chris P.); Gardner Rich & Co.; Stockbrokers--United States--Biography. From working poor single parent, living in an Oakland homeless shelter with his infant son to self-made millionaire.

(Robert Garrett & Sons), Harold A. Williams (1965). Robert Garrett & Sons Incorporated: Origin and Development - 1840-1965. (Baltimore, MD: Press of Schneidereith & Sons, 102 p.). Garrett, Robert & Sons. (firm); Investment banking.

(Gillett Brothers Discount Company Ltd.), R. S. Sayers (1968). Gilletts in the London Money Market 1867-1967. (Oxford, UK: Clarendon Press, 204 p.). Gillett Brothers Discount Company, ltd., London--History; Bills of exchange--England--London--History; Finance--England--London--History.

(Goldman, Sachs - origins to 1869 when Marcus Goldman opened an office), LIsa Endlich (1999). Goldman Sachs: The Culture of Success. (New York, NY: Knopf, 319 p.). Former Goldman, Sachs Foreign Exchange Trader. Goldman, Sachs & Co.; Investment banking--United States; Going public (Securities).

http://upload.wikimedia.org/wikipedia/commons/thumb/4/48/Marcus_Goldman.jpg/225px-Marcus_Goldman.jpg Marcus Goldman - Goldman Sachs (http://upload.wikimedia.org/wikipedia/commons/thumb/4/48/Marcus_Goldman.jpg/225px-Marcus_Goldman.jpg)

(Goldman Sachs), Nils Lindskoog (1999). Long-Term Greedy: The Triumph of Goldman Sachs. (Appleton, WI: McCrossen Pub., 192 p. [2nd ed.]). Goldman, Sachs & Co.; Investment banking--New York (State)--New York; Financial leverage--New York (State)--New York.

(Goldman Sachs), June Breton Fisher (2010). When Money Was in Fashion: Henry Goldman, Goldman Sachs, and the Founding of Wall Street. (New York, NY: Palgrave Macmillan, 288 p.). Henry Goldman’s granddaughter. Goldman, Henry, 1857-1937. Rise of Wall Street, growth of Goldman Sachs from small commercial paper company to international banking business; Henry Goldman (son of founder) established many of practices of modern investment banking; devised plan that made Sears, Roebuck Co. first publicly owned retail operation in world, helped convince Woodrow Wilson to pass Federal Reserve Act of 1913, became power player in world of Wall Street finance at time when Jews were considered outsiders; hard-fought, often frustrating career with Goldman Sachs; tensions between Goldman and Sachs families outside of boardroom, into larger world as United States went to war; continued his involvement with finance throughout life.

(Goldman Sachs), Suzanne McGee (2010). Chasing Goldman Sachs: How the Masters of the Universe Melted Wall Street Down-- and Why They’ll Take Us to the Brink Again. (New York, NY: Crown Publishers, 398 p.). Contributing Editor at Barron's. Goldman, Sachs & Co.; Investment banking --United States --History --21st century; Financial crises --United States --History --21st century; Finance --United States --History --21st century. Why financial system came so close to falling over edge of abyss, why it could happen again; forces that transformed Wall Street from traditional role as capital-generating and economy-boosting engine into behemoth operating with only its own short-term interests in mind, reckless disregard for broader financial system; where banking stands, where it needs to go.

(Goldman Sachs), Willaim D. Cohan (2011). Money and Power: How Goldman Sachs Came to Rule the World. (New York, NY: Doubleday, 672 p.). Contributing Editor (Vanity Fair), Bi-weekly opinion column (The New York Times). Goldman Sachs; investment bankers --United States --history. Goldman's rise to summit of world capitalism; weathered financial crises, congressional, federal and SEC investigations, numerous lawsuits, with reputation and profits intact; how Goldman became so profitable, powerful: cultivation of people in power (since 1913), eagerness to deal on both sides of transaction; 2 images: 1) "The Goldman Way" - model predicated on hiring most talented people, indoctrinating them in corporate culture where partners stifle their egos for greater good, honoring "14 Principles," first of which is "Our clients' interests always come first"; 2) secretive money-making machine that has straddled the line between conflict-of-interest and legitimate deal-making; has exerted undue influence over government; composed of "cyborgs" kept in line by internal "reputational risk department" staffed by former CIA operatives, private investigators; workplace rife with brutal power struggles; Wall Street titan whose clever bet against mortgage market in 2007 (not revealed to its clients) may have made financial ruin of Great Recession worse.

(E. F. Hutton), Mark Stevens (1989). Sudden Death: The Rise and Fall of E.F. Hutton. (New York, NY: New American Library, 298 p.). E.F. Hutton & Company; Stockbrokers--United States; Securities--United States.



Gerald Loeb - co-founding partner, E. F. Hutton (http://www.anderson.ucla.edu/Images/areas/adm/media/loeb_gloeb.jpg)

(E. F. Hutton), Donna S. Carpenter and John Feloni (1989). The Fall of the House of Hutton. (New York, NY: Holt, 322 p.). E. F. Hutton & Company; Stockbrokers--United States.

(E. F. Hutton), James Sterngold (1990). Burning Down the House: How Greed, Deceit, and Bitter Revenge Destroyed E.F. Hutton. (New York, NY: Summit Books, 305 p.). E.F. Hutton & Company--History; Stockbrokers--United States--History.

(Keefe Bruyette & Woods), John Duffy and Mary S. Schaeffer (2001). Triumph over Tragedy: September 11 and the Rebirth of a Business. (Hoboken, NJ: Wiley, 228 p.). Duffy, John; Keefe, Bruyette & Woods, Inc.; Chief executive officers--Biography; Investment advisors--New York (State)--New York; September 11 Terrorist Attacks, 2001.

(Kidder Peabody), Vincent P. Carosso (1979). More Than a Century of Investment Banking: The Kidder, Peabody & Co. Story. (New York, NY: McGraw-Hill, 212 p.). Kidder Peabody & Co.

Albert H. Gordon - rescued Kidder, Peabody  (http://www.alumni.hbs.edu/bulletin/2001/october/img/gordon.jpg)

(Kidder Peabody), S. Melvin Rines (1999). Al Gordon of Kidder, Peabody. (Weston, MA: Southport Press, 145 p.). Gordon, Al (Albert Hamilton), 1901- ; Kidder, Peabody & Co.; Investment bankers--United States--Biography.

(Kidder Peabody), Joseph Jett with Sabra Chartrand (1999). Black and White on Wall Street: The Untold Story of the Man Wrongly Accused of Bringing Down Kidder Peabody. (New York, NY: Morrow, 387 p.). Jett, Joseph; Kidder, Peabody & Co.--Employees--Biography; Insider trading in securities--United States; Securities industry--Corrupt practices--United States.

(Lazard Freres), Anne Sabouret (1987). MM Lazard Frères et Cie: Une Saga de la Fortune. (Paris, FR: O. Orban, 285 p.). Lazard Frères & Co.--History; Banks and banking--France--History; Bankers--France--Biography.

Michel David-Weill - Lazard Freres  (http://referentiel.nouvelobs.com/file/293428.jpg)

Andre Mayer - Lazard Freres (http://www.fao.org/UNFAO/govbodies/img/Andre_mayer.jpg)

(Lazard Freres), Didier Lazard (1988). Simon Lazard, 1828-1898: Emigré à Seize Ans, Pionnier du Far-West, Fondateur de la Banque Lazard: Les Origines de la Banque Lazard. (Paris, FR: Editions du Félin, 161 p.). Lazard, Simon, 1828-1898; Lazard, Simon, 1828-1898 --Journeys--United States; Bankers--France--Biography; Bankers--United States--Biography; United States--Description and travel.

(Lazard Freres), Cary Reich (1997). Financier, The Biography of André Meyer: A Story of Money, Power, and the Reshaping of American Business. (New York, City: Wiley, 392 p.). Meyer, André, 1898-1979; Capitalists and financiers--United States--Biography; Investment banking--United States--History.

(Lazard Freres), enquête de Laurent Chemineau (1998). L'Incroyable Histoire de Lazard Frères, La Banque Qui Règne sur le Monde des Affaires. (Paris, FR: Editions Assouline, 141 p.). Lazard Frères & Co.--History; Banks and banking--France--History.

(Lazard LLC), Martine Orange (2006). Ces Messieurs de Lazard. (Paris, FR: Albin Michel, 345 p.). Lazard Freres & Co.--History; Banks and banking--France--History; Bankers--France--Biography; Banks and banking--New York (State)--New York--History; Bankers--New York (State)--New York--Biography. 1980s - arranged more than 70% of all the corporate mergers, acquisitions in France; 1998 - arranged less than one-third; 2002 - recruited Bruce Wasserstein; killed 'old firm', created new investment bank.

(Lazard LLC), William D. Cohan (2007). The Last Tycoons: The Secret History of Lazard Freres & Co. (New York, NY: Doubleday, 752 p.). Six Years at Lazard Frères, Later Managing Director at JP Morgan Chase. Lazard Freres & Co.--History; Banks and banking--New York (State)--New York--History; Bankers--New York (State)--New York--Biography; Banks and banking--France--History; Bankers--France--Biography. Portrait of Wall Street through tumultuous history of this company - Michel David-Weill, Felix Rohatyn, Steve Rattner, Bruce Wasserstein.

(Lazard Freres & Co.), Felix Rohatyn (2009). Bold Endeavors: How Our Government Built America, and Why It Must Rebuild Now. (New York, NY: Simon & Schuster, 272 p.). Managing Director at Lazard Freres & Co. LLC, Former U.S. ambassador to France, Former Chairman of the Municipal Assistance Corporation of the State of New York (1975-1993). Infrastructure (Economics) --Government policy --United States; Public works --United States;, Public investments --United States; United States --Social policy --1993-. Ten large, transformative events in American history: Louisiana Purchase, Erie Canal, transcontinental railroad, Lan Grant colleges, Homestead Act, Panama Canal, rural electrification, Reconstruction Finance Act, G. I. Bill, interstate highway system.

(Lazard Freres & Co.), Felix Rohatyn (2010). Dealings: A Political and Financial Life. (New York,. NY: Simon & Schuster, 352 p.). Former Managing Director at Lazard Freres & Co. LLC, Former U.S. ambassador to France (1975 to 1993). Rohatyn, Felix G., 1928-; Investment bankers --United States --Biography; Capitalists and financiers --United States --Biography; Ambassadors --United States --Biography. Created merger-and-acquisition business that revolutionized investment banking, transformed worlds of finance, entertainment; some of era’s most renowned figures in worlds of finance, entertainment, politics.

(Lehman Brothers), Ken Auletta (1986). Greed and Glory on Wall Street: The Fall of the House of Lehman. (New York, NY: Random House, 253 p.). Lehman Brothers; Wall Street; Stockbrokers--United States.

  Emanuel Lehman  (http://www.library.hbs.edu/hc/lehman/images/history/emmanual-lehman.jpg)

Mayer Lehman (http://www.library.hbs.edu/hc/lehman/images/history/mayor-lehman-small.jpg)

(Lehman Brothers), David Neal Keller (1993). Edwin L. Kennedy: Reinvesting in Education. (Athens: OH: Ohio University Press,, 236 p.). Kennedy, Edwin Lust, 1904- ; Businesspeople--United States--Biography; Benefactors--United States--Biography; Philanthropists--United States--Biography; Universities and colleges--United States--Finance. Kennedy - Senior Partner, Lehman Brothers.

(Lehman Brothers), Lawrence G. McDonald with Patrick Robinson (2009). A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers. (New York, NY: Crown Business, 368 p.). Former Vice President of Distressed Debt and Convertible Securities Trading at Lehman Brothers. Lehman Brothers (1993- ) --History; Global Financial Crisis, 2008-2009; Financial crises --United States. Culture, unspoken rules of game; reckless, pedal-to-the-floor addiction to growth demolished nation’s oldest investment bank; ruthless place; brilliance, arrogance, ambition, greed, capacity for relentless toil, other human traits combined in potent mix that sometimes fueled prosperity, occasionally destroyed it.

(Lehman Brothers), Joe Tibman (2009). The Murder of Lehman Brothers: An Insider’s Guide to the Global Meltdown. (New York, NY, Brick Tower Press, 245 p.). Former Senior Banker at Lehman Brothers. Lehman Brothers (1993- ) --History; Global Financial Crisis, 2008-2009; Financial crises --United States. People, forces that share responsibility for demise of Lehman; feud erupted, soon after death of last Lehman Family CEO, between two "houses" of Lehman (investment bankers, sales and trading group); rise of Dick Fuld, from junior trader to CEO; what small handful of people, inside Lehman, did to crush it, with assistance of misguided, inept politicians, dysfunctional, antiquated regulatory infrastructure. People, forces that share responsibility for demise of Lehman; feud erupted, soon after death of last Lehman Family CEO, between two "houses" of Lehman (investment bankers, sales and trading group); rise of Dick Fuld, from junior trader to CEO; what small handful of people, inside Lehman, did to crush it with assistance of misguided, inept politicians, dysfunctional, antiquated regulatory infrastructure.

(Lehman Brothers), Peter Chapman (2010). The Last of the Imperious Rich: Lehman Brothers, 1844-2008. (New York, NY: Portfolio, 320 p.). Writer, Editor for the Financial Times. Lehman Brothers --History; Stockbrokers --United States; Investment banking --New York (State) --New York --History; Finance --New York (State) --New York --History; Bankruptcy --United States; Business failures --United States. How one of largest, most respected firms in world could fail; history of Lehman from beginnings as cotton-brokering general store run by family of German immigrants in Montgomery, Alabama, to dramatic exit from world financial stage; from Henry Lehman, who founded firm, to Bobbie Lehman, who led company into world of radio, motion pictures, air travel in 1920s, to Dick Fuld, who ran firm during final days; what caused Lehman to fail.

(Lehman Brothers), Michael P. Malloy (2010). Anatomy Meltdown: Financial Biography Subprime Mortgage Meltdown. (New York, NY: Wolters Kluwer Law & Business, 281 p.). Professor of Law, McGeorge School of Law (University of the Pacific). Lehman Brothers (1993-2008) --Trials, litigation, etc.; Washington Mutual, Inc. --Trials, litigation, etc.; Banking law --United States; Global Financial Crisis, 2008-2009. Course of two financial icons, Lehman Brothers (investment banking), WaMu (consumer financial services sector) on path to financial ruin; global economic meltdown, steps necessary to restore financial markets, measures that must be taken to avoid similar crises in future; fundamental law, policy, practical issues raised by crisis, government's response to it.

(Lehman Brothers), Vicky Ward (2010). The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers. (Hoboken, NJ: Wiley, 296 p.). Contributing Editor (Vanity Fair). Lehman Brothers; Investment banking --New York (State) --New York --History; Investment advisors --New York (State) --New York --History; Finance --New York (State) --New York --History. 1984 - Lehman acquired by by American Express, renamed Shearson/Lehman American Express; 1990 - Lehman Commercial Paper Inc. renamed Lehman; 1994 - became independent; September 15, 2008 - bankrupt; four best friends who rebuilt Lehman Brothers - Steve Lessing, Tom Tucker, Chris Pettit, Joe Gregory (all from Huntington, Long Island); poisonous culture - illicit affairs, treachery, séances, boardroom backstabbing, friendships and families torn apart; "Little Lehman" - known to be forever fighting for its life, somehow succeeding; victim of men, women blinded by arrogance, money, power.

(Lehman Brothers), Mark T. Williams (2010). Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System. (New York, NY: McGraw-Hill, 256 p.). Finance and Economics Faculty (Boston University). Lehman Brothers -- bankruptcy; economic conditions - 2000-2008. How uncontrolled risk toppled 158-year-old institution; what it says about Wall Street, Washington, world financial system; microcosm of industry—worst-case scenario of smart decisions, stupid mistakes, ignored warnings, important lessons in money, power, policy: did CEO Dick Fuld deserve Congressional inquisition? how investment banking money machine broke down: can it be fixed?; can lessons be learned from key drivers that caused financial meltdown? is Washington to blame for wild risk taking? ongoing debate on reform and regulation: can meaningful reform avert another financial catastrophe?

(Levesque, Beaubien), Jules Belanger (1998). Jean-Louis Levesque: A Biography. (Westmount, QU: R. Davies Multimedia, 312 p.). Levesque, Jean-Louis; Capitalists and financiers--Canada--Biography. 

(Mediobanca S.p.A), Giandomenico Piluso, (2005). Mediobanca: Tra Regole e Mercato. (Milano, IT: Egea, 229 p.). Mediobanca--History; Investment banking--Italy--History--20th century.

(Merrill Lynch), Donald T. Regan (1972). A View from the Street. (New York, NY: New American Library, 220 p.). Wall Street.

 Charles E. Merrill (http://www.nndb.com/people/383/000094101/charlesemerrill01.jpg) October 7, 1956 Obituary - http://www.nytimes. com/ learning/general/onthisday/bday/1019.html

(Merrill Lynch), edited by Henry R. Hecht (1985). u>A Legacy of Leadership: Merrill Lynch, 1885-1985. (New York, NY: Merrill Lynch, 151 p.). Merrill Lynch & Co. (1973- )--History; Stockbrokers--United States--History.

(Merrill Lynch), Edward J. Perkins (1999). Wall Street to Main Street: Charles Merrill and Middle-Class Investors. (New York, NY: Cambridge University Press, 283 p.). Merrill, Charles, 1885-1956; Merrill Lynch & Co. (1973- )--History; Capitalists and financiers--United States--Biography. History of Merrill Lynch, founder Charles Merrill.

(Merrill Lynch), Greg Farrell (2010). Crash of the Titans: How the Decline and Fall of Merrill Lynch Crippled Bank of America and Nearly Destroyed America's Financial System. (New York, NY: Crown Business, 320 p.). Journalist (Financial Times). Merrill Lynch; Bank of America; financial crises - 2008. Worldwide financial collapse seen through merger of Bank of America and Merrill Lynch; focus on Ken Lewis and John Thain; critical look at two companies' boards of directors, "bonus culture" of Wall Street, risks embedded in any company run by all-powerful CEO.

(Montgomery Securities), Richard Brandt with contributions by Thomas Weisel (2002). Capital Instincts: Life as an Entrepreneur, Financier, and Athlete. (Hoboken, NJ: Wiley, 336 p.). Weisel, Thomas; Capitalists and financiers--United States--Biography; Businesspeople--United States--Biography. 

(Moody's), John Moody (1975). The Long Road Home: An Autobiography. (New York, NY: Arno Press, 263 p. [orig. pub. 1933]). Moody, John, 1868-1958; Capitalists and financiers--United States--Biography.

(Morgan Stanley), Patricia Beard (2007). Blue Blood & Mutiny: The Fight for the Soul of Morgan Stanley. (New York, NY: Morrow, 352 p.). Morgan Stanley. Leadership battle at Morgan Stanley - fight for dominance between two competing business cultures: 1) collegial meritocracy from days of J. P. Morgan, 2) cold, contemporary corporate model.

  Henry S. Morgan - Morgan Stanley (http://cache2.asset-cache.net/xc/56578535.jpg?v=1&c=IWSAsset&k=2&d= 77BFBA49EF878921F7C3FC3F69D929FDEEF720DF3CAD22EB0A5F17A84AB5D7EDF70B8D70A85616E739F71A9C9BC19C35)

(Mullens & Co.), David Wainwright (1990). Government Broker: The Story of an Office and of Mullens & Co. (East Molesey, UK: Matham, 160 p.). Mullens & Co.; Securities markets Business History Great Britain.

(Nesbitt Thomson Inc.), A.R.Deane Nesbitt (1989). Dry Goods & Pickles: The Story of Nesbitt, Thomson. (Toronto, Canada: The Author, 144 p.). Grandson of Founder. Nesbitt, Thomson Inc.--History; Nesbitt, Arthur James.

(Nomura), Albert J. Alletzhauser (1990). The House of Nomura: The Inside Story of the Legendary Japanese Financial Dynasty. (New York, NY: Arcade Pub. Co., 343 p.). Nomura Sh¯oken Kabushiki Kaisha--History; Stockbrokers--Japan; Securities industry--Japan.

(Paine Webber), Paine Webber Inc. (1930). Paine, Webber & Company, 1880-1930. A National Institution. (Boston, MA: Oxford-Print, 75 p.). Brokers -- United States.

Scripophily.com is a name you can TRUST! William A. Paine - Paine Webber (http://www.scripophily.com/webcart/vigs/willpaine.gif)

(Prudential-Bache), Jeffrey Taylor (1994). The Pru-Bache Murder: The Fast Life and Grisly Death of a Millionaire Stockbroker. (New York, NY: HarperCollins, 293 p.). Prozumenshikov, Michael, 1953-1991; Prudential-Bache Securities, Inc.--Case studies; Murder--Minnesota--Minneapolis--Case studies; Stockbrokers--Malpractice--Minnesota--Minneapolis--Case studies.

(Prudential-Bache), Kurt Eichenwald (1995). Serpent on the Rock. (New York, NY: HarperBusiness, 480 p.). Prudential-Bache Securities, Inc., Securities Fraud.

(Prudential-Bache), Kathleen Sharp (1995). In Good Faith. (New York, NY: St. Martin's Press, 256 p.). Prudential-Bache Securities, Inc.--Corrupt practices; Securities fraud--United States--Case studies.

(Royal Securities Corporation), Douglas How (1986). Canada's Mystery Man of High Finance: The Story of Izaak Walton Killam and His Glittering Wife Dorothy. (Hantsport, NS: Lancelot Press, 173 p.). Killam, Izaak Walton, 1885-1955; Killam, Dorothy Johnston, 1899-1965; Capitalists and financiers -- Canada -- Biography.

John F. Stairs - founder, Royal Securities  (http://upload.wikimedia.org/wikipedia/en/4/41/JohnFStairs.jpg)

Izaak Walton Killam - Royal Securities  (http://www.killamtrusts.ca/pictures/01izaak%20-%20Copy.jpg)

(Royal Securities Corporation), Gregory P. Marchildon (1996). Profits and Politics: Beaverbrook and the Gilded Age of Canadian Finance. (Toronto, ON: University of Toronto Press, 348 p.). Beaverbrook, Max Aitken, Baron, 1879-1964; Royal Securities Corporation--History; Consolidation and merger of corporations--Canada--History; Business and politics--Canada--History; =Canada--Economic conditions--1867-1918.

(Salomon Brothers), Robert Sobel (1986). Salomon Brothers, 1910-1985: Advancing to Leadership. (New York, NY: Salomon Brothers, 240 p.). Salomon Brothers--History; Investment banking--New York (State)--New York--History.

(Salomon Brothers), Martin Mayer (1993). Nightmare on Wall Street: Salomon Brothers and the Corruption of the Marketplace. (New York, NY: Simon & Schuster, 272 p.). Salomon Brothers; Government securities--Marketing--Corrupt practices--United States.

(Schwab), John Kador (2002). Charles Schwab: How One Company Beat Wall Street and Reinvented the Brokerage Industry. (Hoboken, NJ: Wiley, 324 p.). Schwab, Charles; Charles Schwab Corporation--History; Stockbrokers--New York (State)--New York--History.

(Seligman - founded 1864), Ross L. Muir and Carl J. White (1964). Over the Long Term; The Story of J. & W. Seligman & Co. (New York, NY: J. & W. Seligman, 172 p.). Seligman, J. & W., & Co., New York.

(Muriel Siebert & Co.), Muriel Siebert, with Aimee Lee Ball (2002). Changing the Rules: Adventures of a Wall Street Maverick. (New York, NY: Free Press,     p.). Founder (Muriel Siebert & Co., Inc.). Siebert, Muriel; New York Stock Exchange--History--20th century; Stockbrokers--New York (State)--New York--Biography; Businesswomen--New York (State)--New York--Biography. 

(Slater Walker Securities), Charles Raw (1977). A Financial Phenomenon: An Investigation of the Rise and Fall of the Slater Walker Empire. (New York. NY: Harper & Row, 368 p.). Slater, Jim, 1929-; Walker, Peter Edward, 1932-; Slater, Walker Securities, Ltd.; Capitalists and financiers--Great Britain--Biography.

(Standard & Poor's), Alfred D. Chandler, Jr. (1956). Henry Varnum Poor, Business Editor, Analyst, and Reformer. (Cambridge, MA: Harvard University Press, 362 p.). Poor, Henry Varnum, 1812-1905; Railroads--United States--History.

(Sutro & Co.), Louis H. Cahen and Edward I. Fitzpatrick (1928). The Empire of the Golden Gate, 1858-1928, Prepared for Sutro & Co. at the Moment of Their Seventieth Year of Activity. (San Francisco, CA: H.S. Crocker Company, Inc., 53 p.). Sutro & Co., San Francisco; San Francisco Stock Exchange (1927-1957); San Francisco (Calif.)--History.

(Julia Walsh & Sons), Julia Montgomery Walsh in collaboration with Anne Conover Carson (1996). Risks and Rewards: A Memoir. (McLean, VA: EPM Publications, 216 p.). Walsh, Julia Montgomery; Stockbrokers--United States--Biography; Women in finance--New York (State)--New York--Biography.  

(Weeden & Co.), Donald E. Weeden (2002). Weeden & Co.: The New York Stock Exchange and the Struggle Over a National Securities Market. (New York, NY: Donald E. Weeden, 224 p.). Weeden, Donald E.; Weeden & Co.; United States. Securities and Exchange Commission; Securities --United States; Securities industry --United States. Whether stock exchange is place or concept.

J.S. Aikman (2020). When Prime Brokers Fail: The Unheeded Risk to Hedge Funds, Banks, and the Financial Industry. (New York, NY: Bloomberg Press, 290 p.). Former VP and Counsel for a Bulge-Bracket Investment Bank in London). Hedge funds; Brokers; Investment banking; Investment advisors; Financial services industry; Financial risk. Relationship between hedge funds, their brokerages, risks that multiply in extraordinary markets; source of unexpected risk for banks lending to highly leveraged hedge funds, for funds with assets at struggling banks; unheeded risks of prime finance; steps required for managers to protect their funds, bankers to protect their brokerages; challenges, trends, risks within prime brokerage space; structural adjustments firms will need to make to avoid similar disasters; complex relationship between hedge funds, their brokerages, risks that multiply in extraordinary markets; new ways to manage inherently risky business, regulations that may soon be introduced.

Geraint Anderson (2008). Cityboy: Beer and Loathing in the Square Mile. (London, UK: Headline, 320 p.). Former Joint Team Leader and Star Stock Analyst at Dresdner Kleinwort. Stockbrokers -- England -- London -- History; Stock Exchange (London, England). Semi-fiction, reads like memoir; son of former leftwing Labour MP Donald Anderson (now Lord Anderson of Swansea); secrets about the dark underbelly of City life; read the columns: http://cityboy.thelondonpaper.com.

Stephen Birmingham (1996). Our Crowd: The Great Jewish Families of New York. (Syracuse, NYs: Syracuse University Press, 404 p. [orig. pub. 1967]). Jews --New York (State) --New York --Social life and customs; Jewish bankers --New York (State) --New York; Upper class --New York (State) --New York; New York (N.Y.) --Ethnic relations.

Charles R. Geisst (2001). The Last Partnerships: Inside the Great Wall Street Dynasties. (New York, NY: McGraw-Hill, 338 p.). Wall Street--History; Securities industry--Mergers--New York (State)--New York--Case studies; Stockbrokers--Mergers--New York (State)--New York--Case studies; Partnership--New York (State)--New York--Case studies; Business failures--New York (State)--New York--Case studies; Securities industry--United States--History; Stockbrokers--United States--History.

Alexandra Michel and Stanton Wortham (2008). Bullish on Uncertainty: How Organizational Cultures Transform Participants. (New York, NY: Cambridge University Press, 264 p.). Assistant Professor in the Department of Management and Organization at the Marshall School of Business (University of Southern California); Judy and Howard Berkowitz Professor of Education at the Graduate School of Education (University of Pennsylvania). Corporate culture; Bank management; Investment banking. How two highly successful Wall Street investment banks managed uncertainty of their high-velocity environment through different work practices; 1) familiar route of decreasing bankers' uncertainty; 2) novel, effective practice of increasing bankers' uncertainty to make them more alert to new situations, more likely to draw on bank's entire range of resources; why banks differed in ability to notice market changes, adapt to them; how similar participants were transformed into different kinds of persons by different kinds of work practices.

Roy C. Smith and Ingo Walter (1997). Street Smarts: Linking Professional Conduct with Shareholder Value in the Securities Industry. (Boston, MA: Harvard Business School Press, 351 p.). Securities industry--United States.


Investment Banking

Lehman Brothers Collection


In the late 1840s, Henry Lehman made the journey from Germany to Alabama, where he established a dry goods store. Several years later, he was joined by his two brothers and over the coming years the firm of Lehman Brothers would become a commodities broker buying and selling cotton for the planters in the area. They opened a New York office in 1858, and during the next century and a half they would become one of the world's most prominent financial firms. Lehman Brothers collapsed in 2008, but curious persons can still learn about their various dealings via this site. The Lehman Brothers Collection at Harvard University's Baker Library contains digitized records of their deal books from the 1920s to the 1980s. On the homepage, visitors can learn about the history of the firm, and also use the "Using the Deal Books" to learn how to decipher all of their transactions. The deal books can also be browsed by chronology, company, or industry. Site also has extensive business records, which include executive records, financial documents, and correspondence. 

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