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Dean Witter Reynolds was founded in 1978 as the merger of Dean Witter & Co. and Reynolds Securities (with Dean Witter acquiring Reynolds), which was then the biggest merger in the history of Wall Street. [2] [3] The company was acquired by Sears in 1981, and was renamed "Dean Witter, Discover & Co." in 1993 when Sears spun off the company.
Reynolds Securities was a publicly traded brokerage firm. Founded in 1931 by Richard S. Reynolds, Jr., the firm merged with Dean Witter & Co. to form Dean Witter Reynolds Organization Inc. in 1978, which was then the biggest merger in the history of Wall Street. [1] [2] The firm's tagline, "We work for a world of investors. One at a time."
Founder of Dean Witter Reynolds Dean Gooding Witter (August 2, 1887 – May 25, 1969) was an American businessman, stockbroker, and investor. With his brother Guy Witter and cousin Jean Witter, Dean Witter co-founded Dean Witter & Company in 1924, which became the largest investment house on the West Coast.
Back in 1997, the global investment giant Morgan Stanley merged with brokerage firm Dean Witter Reynolds to become the largest securities company at the time. But the union proved challenging.
"The company became less focused on Craftsman tools and more interested on its Allstate, Coldwell Banker, Dean Witter Reynolds, Discover Card, and other financial service brands. Its stores became ...
Dean Witter Reynolds: 1978 Merrill Lynch: White Weld & Co. Merrill Lynch: 1979 Shearson Hayden Stone: Loeb, Rhoades, Hornblower & Co. Shearson Loeb Rhoades: 1979 ...
The firm was founded in San Francisco, California in 1914 by Charles R. Blyth and Dean G. Witter.Originally known as Blyth, Witter & Co., the firm was renamed Blyth & Co. in 1924, when Witter left to set up his own brokerage business, Dean Witter Reynolds.
He played a leading role in Sears's acquisition of Dean Witter Reynolds on December 31, 1981, and became President in 1982 and Chairman and CEO in 1986. In 1993, Purcell led the spin-off from Sears and initial public offering of Dean Witter Discover. Shareholders buying the IPO made 20% per year, or 9 times their original investment by March ...