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Dean Witter Reynolds was an American stock brokerage and securities firm catering to a variety of clients. Prior to the company's acquisition, it was among the largest firms in the securities industry with over 9,000 account executives (ranking third in the US in 1996) and was among the largest members of the New York Stock Exchange.
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.
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."
During the 1970s, Healey served as the head of the corporate finance department of Dean Witter Reynolds, Inc. In 1985 Healey founded the Real Estate Capital Markets Group at Goldman Sachs. He then founded the firm’s Pension Services Group, and became a managing partner of Goldman Sachs in 1996. [7]
Before the FIRE ("financial independence, retire early") movement invaded the U.S., before there were iPhones, before there was even the internet (gasp!), Billy and Akaisha Kaderli retired at the ...
Dean Witter Discover & Co. Morgan Stanley: Morgan Stanley Dean Witter: 1998 Union Bank of Switzerland: Swiss Bank Corporation: UBS AG (UBS Warburg) 1998 Travelers Group: Citicorp: Citigroup (Salomon Smith Barney) 1998 Société Générale: Hambros Bank: Société Générale (SG Hambros Bank Ltd) 1999 Deutsche Bank: Bankers Trust: Deutsche Bank ...
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 ...
It came into more general use in the elite retail (or "Private Client") divisions of firms such as Goldman Sachs or Morgan Stanley (before the Dean Witter Reynolds merger of 1997), to distinguish those divisions' services from mass-market offerings, but has since spread throughout the financial-services industry.