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New York, New York, United States. Services. Investment banking. Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward Shearson [1] [2] and the firm he founded, Shearson Hammill & Co.
Shearson is a financial services firm that offers brokerage, portfolio management, retirement planning, and more. Learn about their team, products, and services, and schedule a free consultation.
After the acquisition, Shearson became Shearson Lehman Hutton and established itself as a retail force second only to Merrill Lynch on Wall Street. But 1988 brought continued problems. In the takeover, Shearson Lehman Hutton laid off 6,000 employees and closed or merged 150 offices.
Shearson, Hammill & Co. was a Wall Street brokerage and investment banking firm founded in 1902 by Edward Shearson and Caleb Wild Hammill. The firm originally built its business as a stock broker as well as a broker of various commodities, particularly grain and cotton.
Shearson/American Express, an American Express-owned securities company focused on brokerage rather than investment banking, acquired Lehman in 1984, for $360 million. On May 11, the combined firms became Shearson Lehman/American Express.
By 1977, Shearson ’ s holdings were consolidated, and the result was the seventh-largest investment-banking firm in the country. Its revenues had more than tripled since 1972, to $134 million in 1977, and employees now numbered more than 4,000. Shearson ’ s growth and
The acquisition in 1993 of Shearson Lehman Brothers Holdings' retail brokerage and asset management businesses made the amalgamated firm, with an army of 11,000 financial consultants (brokers) and 495 branch offices, second only in the brokerage field to mighty Merrill Lynch.
