257:, another Boston-based brokerage firm, in June 1942. In July 1879, Charles Cabot Jackson and Laurence Curtis had founded their brokerage firm Jackson & Curtis on Congress Street in Boston, not far from the original Paine Webber offices. The combined firm, Paine, Webber, Jackson & Curtis, operated a combined total of 22 branch offices. With its greater combined asset base, Paine Webber Jackson & Curtis had become a significant participant in the
330:. With the acquisition of Rotan Mosle Financial Corp. in 1983, PaineWebber developed a national distribution network and with its advertising campaign "Thank You PaineWebber" developed its brand throughout the 1980s. In 1984, the company consolidated its two divisions, Paine Webber Jackson & Curtis and Blyth Eastman Paine Webber Inc., to form PaineWebber Inc. PaineWebber Group Inc. was established as the parent holding company.
27:
292:. PaineWebber engaged in a number of acquisitions in the 1970s, as a wave of consolidation spread through the industry. In 1973, the firm acquired F.S. Smithers & Co., providing its first a presence in fixed income. PaineWebber also acquired Abbott, Proctor & Paine in 1970, the Abacus Fund, a closed-end investment company in 1972, Mitchum, Jones & Templeton Inc. in 1973.
380:
for US$ 620 million. The deal was not profitable for PaineWebber, as a great number of brokers left the firm due to corporate cultural differences, taking their clients with them. The
Bradford unit which had been "purchased by PaineWebber mainly for its network of 900 brokers" was closed.
337:
to 1285 Avenue of the
Americas in Midtown Manhattan in 1985. PaineWebber became a visible presence on Sixth Avenue. At the time, the illuminated name on the building (today UBS) was unique among investment banks, and the building hosted a ground floor gallery of art exhibitions.
357:. Founded in 1865, Kidder, Peabody had been a preeminent player in investment banking and private services before becoming embroiled in insider trading scandals in the 1980s and suffering major trading losses in 1994. During these years
302:, which itself was the product of a number of mergers. Among its predecessor firms were Blyth & Co. which had merged with Eastman Dillon Union Securities & Co. in 1972, itself the product of the 1956 merger of
284:
The firm moved its headquarters from Boston to New York in 1963. The firm's holding company was incorporated on June 30, 1969 as PaineWebber Inc., of which Paine Webber
Jackson & Curtis was its main subsidiary.
401:, Switzerland. Initially the business was given the divisional name "UBS PaineWebber", but in 2003, the 123-year-old name Paine Webber disappeared when it was renamed "UBS Wealth Management USA".
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Operating as PaineWebber Group Inc., by 2000 PaineWebber had emerged as the fourth largest private client firm in the United States with 385 offices employing 8554
358:
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277:, in which it introduced the concept of stabilization covered by an overallotment option, which has ever since been known by the colloquial name of
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223:. With the admission of Charles H. Paine to the partnership, the firm was renamed Paine, Webber & Co. The firm would purchase a seat on the
215:
In May 1881, William Alfred (W.A.) Paine (with a loan from his father) and
Wallace G. Webber founded Paine & Webber as a brokerage firm in
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In 1974, the firm completed an initial public offering of the stock of its holding company, PaineWebber Inc., and listed the company on the
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The acquisition added more than 70 branch offices and more than 700 professionals as well as an investment banking business.
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in May 1881. The company was renamed Paine, Webber & Co. when
Charles Hamilton Paine became a partner. Members of the
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In 1977, the firm acquired investment research and advisory firm
Mitchell Hutchins, which had been founded in 1919.
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341:
In 1986, the firm opened a new technology and transaction processing operation at
Lincoln Harbor in New Jersey.
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416:
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business in the 1920s. After nearly fifty years at the head of the company, W.A. Paine died right before the
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PaineWebber -- which has 7,608 brokers of its own, making it the nation's fourth-largest brokerage firm
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In 1995, PaineWebber completed the acquisition of the brokerage and investment banking firm
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202:. Wallace G. Webber retired after the business weathered a major financial crisis of 1893.
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was the
Managing Director and Head of Global Fixed Income Sales at Paine Webber.
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246:. His son F. Ward Paine became head of the firm, a position he held until 1940.
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and
Wallace G. Webber. Operating with two employees, they leased premises at 48
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By 1980, PaineWebber had 161 branch offices in 42 states and six offices in
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590:"Donald B. Marron, Financier, Art Collector and Philanthropist, Dies at 85"
393:, the company completed a US$ 10.8 billion cash and stock merger with
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in 1890. Also in the 1890s, W.A. Paine entered into a partnership with
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Controlled by the Paine family, Paine, Webber & Co. entered the
26:
541:"How Alibaba Boosted Its IPO Size by Taking a Walk in Greenshoes"
376:
In April 2000, PaineWebber acquired southeastern brokerage firm
817:
After $ 43 Billion in Write-Downs, UBS to Split Main
Businesses
389:
On November 3, 2000, under the leadership of Chairman and CEO,
327:
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Francis Ward Paine, of Paine, Webber and company, testified
323:
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Defunct financial services companies of the United States
857:
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Advertising: Introducing UBS, PaineWebber, Post Merger
1258:
Financial services companies disestablished in 2000
664:"Report of Receipts and Disbursements October 1999"
602:
575:"Painewebber Atlas Fund Registration of securities"
437:Anderson, George E. and Taylor, Richard E. (2008).
692:"PaineWebber to buy J. C. Bradford brokerage firm"
555:"PaineWebber shells out to settle broker lawsuits"
543:. 23 September 2014 – via www.bloomberg.com.
1253:Financial services companies established in 1880
1234:
776:
581:
784:"After Two Steady Years, UBS Shuffles Managers"
57:Paine, Webber, Jackson & Curtis (1942–1984)
587:
842:
608:
306:(formerly the investment banking division of
210:
198:, in 1890 the company acquired a seat on the
1268:Former investment banks of the United States
463:: CS1 maint: multiple names: authors list (
182:in 2000. The company was founded in 1880 in
712:"PaineWebber to close investment bank unit"
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497:
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397:, a banking conglomerate headquartered in
269:In October 1960, Paine Webber managed the
25:
547:
480:Corsicana Daily Sun from Corsicana, Texas
178:firm that was acquired by the Swiss bank
436:
333:PaineWebber moved its headquarters from
16:Investment bank and stock brokerage firm
1273:1880 establishments in New York (state)
611:"Paine Webber to shift units to Jersey"
490:
1235:
830:
505:"Paine, Webber, Jackson & Curtis"
249:Following the difficult years of the
751:Swiss Bank Is Acquiring PaineWebber
588:Mariel Padilla (December 8, 2019).
13:
800:
443:. Arcadia Publishing. p. 76.
384:
264:
14:
1289:
609:Joyce Purnick (April 26, 1986).
61:Jackson & Curtis (1879–1942)
979:Blyth, Eastman Dillon & Co.
921:Basler & Zürcher Bankverein
760:
743:
727:
704:
684:
656:
639:
623:
523:"Company History - Stride Rite"
417:Blyth, Eastman Dillon & Co.
300:Blyth, Eastman Dillon & Co.
647:Paine Webber's Plan for Kidder
567:
533:
515:
471:
430:
308:J. & W. Seligman & Co.
235:, controlled by John Stanton.
59:Paine & Webber (1881–1942)
1:
1263:2000 mergers and acquisitions
1217:Wellington Management Company
984:Kidder, Peabody & Company
423:
298:In 1979 the company acquired
630:Paine Webber Deal for Kidder
275:Green Shoe Manufacturing Co.
71:; 143 years ago
7:
404:
253:, Paine Webber merged with
99:; 24 years ago
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509:United Press International
211:Founding and early history
205:
1207:MFS Investment Management
1199:
1099:
1022:
1002:
959:
951:O'Connor & Associates
911:
875:Union Bank of Switzerland
873:
864:
411:Kidder, Peabody & Co.
351:Kidder, Peabody & Co.
244:Wall Street Crash of 1929
147:
136:
122:
111:
93:
83:
65:
53:
43:
33:
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355:General Electric Company
344:
317:
312:Eastman Dillon & Co.
807:Paine Webber's New Role
734:PaineWebber Merger Vote
378:J.C. Bradford & Co.
364:
290:New York Stock Exchange
271:initial public offering
225:New York Stock Exchange
200:New York Stock Exchange
941:Dillon, Read & Co.
913:Swiss Bank Corporation
20:Paine Webber & Co.
792:. September 18, 2003.
511:). December 30, 1980.
233:Copper Range Railroad
221:Boston Stock Exchange
217:Boston, Massachusetts
196:Boston Stock Exchange
184:Boston, Massachusetts
168:PaineWebber & Co.
156:Investment management
131:UBS Wealth Management
1200:Largest shareholders
974:Jackson & Curtis
359:Michael G. Ricciardi
255:Jackson & Curtis
229:Copper Range Company
115:Acquired in 2000 by
1071:Alex Wilmot-Sitwell
936:SG Warburg & Co
931:Warburg Dillon Read
898:Phillips & Drew
636:, December 16, 1994
577:. October 24, 1995.
219:with a seat on the
21:
1086:William G. Parrett
1046:Markus U. Diethelm
1010:McDonald & Co.
969:Paine & Webber
926:Basler Handelsbank
883:Bank in Winterthur
821:The New York Times
811:The New York Times
789:The New York Times
771:The New York Times
755:The New York Times
740:, October 24, 2000
738:The New York Times
717:The New York Times
697:The New York Times
653:, October 18, 1994
651:The New York Times
634:The New York Times
616:The New York Times
595:The New York Times
527:www.striderite.com
440:Copper Country Rai
261:financial market.
240:investment banking
160:Investment banking
48:Financial services
19:
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1229:
1018:
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989:Mitchell Hutchins
888:Toggenburger Bank
823:, August 13, 2008
700:. April 29, 2000.
165:
164:
89:Wallace G. Webber
1285:
1278:UBS acquisitions
1146:Jerker Johansson
994:Union Securities
946:Brinson Partners
871:
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720:. May 19, 2000.
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304:Union Securities
251:Great Depression
188:William A. Paine
170:was an American
143:, New York, U.S.
127:UBS Paine Webber
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87:William A. Paine
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1141:Marten Hoekstra
1111:Gary P. Brinson
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1003:Other companies
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801:Further reading
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563:. May 15, 1993.
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385:Merger with UBS
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265:1960s and 1970s
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192:Congress Street
176:stock brokerage
172:investment bank
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1191:Jürg Zeltner
1161:Marcel Ospel
1136:Ralph Hamers
1126:Blair Effron
1081:Chi-Won Yoon
961:Paine Webber
960:
867:predecessors
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673:. 1999-10-14
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335:140 Broadway
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137:Headquarters
34:Company type
1222:Wealthfront
1212:Norges Bank
1186:Robert Wolf
1151:Peter Kurer
1116:John Costas
1066:Tom Naratil
893:Interhandel
259:New England
54:Predecessor
1237:Categories
1156:Ken Moelis
1121:John Cryan
1102:executives
1091:Phil Gramm
1036:(Chairman)
1025:executives
865:Historical
677:2023-12-24
424:References
419:(acquired)
413:(acquired)
459:cite book
279:greenshoe
152:Brokerage
123:Successor
405:See also
148:Products
129:, later
84:Founders
44:Industry
1023:Current
507:. UPI (
206:History
102: (
94:Defunct
74: (
66:Founded
1100:Former
858:UBS AG
447:
399:Zürich
328:Europe
310:) and
38:Public
1042:(CEO)
667:(PDF)
353:from
345:1990s
318:1980s
186:, by
465:link
445:ISBN
365:2000
326:and
324:Asia
231:and
174:and
112:Fate
104:2000
97:2000
76:1881
69:1881
1243:UBS
903:SMH
395:UBS
180:UBS
117:UBS
1239::
819:.
809:.
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753:.
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453:.
106:)
78:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
