Shearson
Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward Shearson and the firm he founded, Shearson Hammill & Co. Among Shearson's most notable incarnations were Shearson / American Express, Shearson Lehman / American Express, Shearson Lehman Brothers, Shearson Lehman Hutton and finally Smith Barney Shearson.
| Industry | Financial services |
|---|---|
| Predecessor | Shearson Hammill & Co. |
| Founded | 1902 |
| Founder | Edward Shearson |
| Fate | Following the spinout of Lehman Brothers, Shearson operations were sold to Primerica, later Citigroup |
| Successor | Shearson / American Express Shearson Lehman / American Express Shearson Lehman Brothers Shearson Lehman Hutton Smith Barney Shearson |
| Headquarters | New York, New York, United States |
| Services | Investment banking |
For its first eight decades, the firm operated independently and merged with several Wall Street securities firms including Hayden Stone & Co. and Loeb Rhoades & Co. In 1981, Shearson was acquired by American Express and operated as a subsidiary of the financial services company before being merged with Lehman Brothers Kuhn Loeb in 1984 and E.F. Hutton & Co. in 1988.
In 1993, Shearson was sold to Primerica, a predecessor of Citigroup, and merged with its retail brokerage business, Smith Barney, to create Smith Barney Shearson. The Shearson name was discontinued in 1994.