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Jackson & Curtis - Wikipedia

From Wikipedia, the free encyclopedia

Jackson & Curtis

Company type	Acquired
Industry	Financial services
Founded	1879
Founder	Charles Cabot Jackson Laurence Curtis
Defunct	1984
Fate	Merged in 1942 with Paine Webber
Successor	Paine, Webber, Jackson & Curtis UBS AG
Headquarters	Boston, Massachusetts
Products	Brokerage, Investment management

Jackson & Curtis was founded in 1879 in Boston, Massachusetts, by Charles Cabot Jackson and Laurence Curtis. Operating with two employees, they leased premises on Congress Street in May 1881, not far from Paine Webber. Members of the Boston Stock Exchange, in 1890 the company acquired a seat on the New York Stock Exchange.

It was an American investment banking and stock brokerage firm that merged with Paine Webber in 1942. The firm operated as Paine Webber Jackson & Curtis^[1] through 1984, when Paine Webber Inc. was created to consolidate the company's various businesses and subsidiaries under a single brand. Paine Webber was ultimately acquired by the Swiss bank UBS AG in 2000.

History

Founding and early history

In July 1879, Charles Cabot Jackson and Laurence Curtis founded their investment banking firm Jackson & Curtis on Congress Street in Boston, Massachusetts.

Following the difficult years of the Great Depression, in June 1942, Jackson & Curtis merged with Paine & Webber, another Boston-based brokerage firm. The combined firm, Paine, Webber, Jackson & Curtis,^[1] 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 New England financial market.

1960s and 1970s

The firm, now known as Paine Webber Jackson & Curtis moved its headquarters from Boston to New York in 1963. The firm's holding company was incorporated in 1970 as PaineWebber Inc., of which Paine Webber Jackson & Curtis was its main subsidiary.

In 1974, the firm completed an initial public offering of the stock of its holding company, PaineWebber Inc., and listed the company on the New York Stock Exchange. As was the case for many firms, the company engaged in a number of acquisitions in the 1970s, as a wave of consolidation spread through the industry.

In 1977, the firm acquired investment research and advisory firm Mitchell Hutchins and two years later, in 1979, the company acquired Blyth, Eastman Dillon & Co.,^[1] which itself was the product of a number of mergers.

End of the Jackson & Curtis name

By 1980 Paine Webber Jackson & Curtis had 161 branch offices in 42 states and six offices in Asia and Europe. As the company expanded, it was looking to streamline the various brands. The company would consolidate its three divisions, Paine Webber Jackson & Curtis, Paine Webber Mitchell Hutchins and Blyth Eastman Paine Webber Inc., to form Paine Webber Inc. in 1984.^[2] After this point, the company would operate under the Paine Webber brand.

In 2000, Paine Webber was acquired by UBS AG, a banking conglomerate headquartered in Zurich, Switzerland.^[3]^[4]

References

^ ^a ^b ^c "Paine, Webber, Jackson & Curtis". UPI (United Press International). December 30, 1980.
^ William Grimes (May 4, 2009). "James W. Davant, Who Rose to Top of Paine Webber, Is Dead at 93". The New York Times.
^ PaineWebber Merger Vote. New York Times, October 24, 2000
^ *Swiss Bank Is Acquiring PaineWebber. New York Times, July 12, 2000

Fifty years of finance, 1879-1929. Jackson & Curtis, 1929

UBS AG

Historical
predecessors

Union Bank of Switzerland	Bank in Winterthur Toggenburger Bank Interhandel Phillips & Drew SMH
Swiss Bank Corporation	Basler & Zürcher Bankverein Basler Handelsbank Warburg Dillon Read SG Warburg & Co Dillon, Read & Co. Brinson Partners O'Connor & Associates
Paine Webber	Paine & Webber Jackson & Curtis Blyth, Eastman Dillon & Co. Kidder, Peabody & Company Mitchell Hutchins Union Securities
Other companies	McDonald & Co.

Current
executives
and directors

Former
executives
and directors

Largest shareholders

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International	VIAF
National	United States Israel