Halsey, Stuart & Co.
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| Former type | Acquired |
|---|---|
| Industry | Financial services |
| Fate | Acquired in 1974 by Bache & Co. |
| Successor(s) | Bache Halsey Stuart Shields Prudential-Bache Securities |
| Founded | 1911 |
| Defunct | 1974 |
| Headquarters | Chicago, Illinois, United States |
| Key people | Harold L. Stuart |
| Products | Investment banking |
Halsey, Stuart (later Bache Halsey Stuart Shields) was a Chicago-based investment bank founded in 1911.
In 1952, the firm made headlines when its managing partner, Harold L. Stuart, testified before the U.S. Supreme Court for the government's antitrust case against Morgan Stanley and 16 other major investment banks. The fact that Halsey, Stuart was a significant Wall Street player (responsible for the most IPOs in 1951)[1] led some observers to suspect that they had provoked the government's antitrust suit.[2]
The firm was purchased by Bache & Co. in 1974 to form Bache Halsey Stuart Shields & Co. The combined firm was acquired by Prudential Insurance in 1981, leading to the creation of Prudential-Bache Securities.
[edit] References
- ^ Time Magazine, Nothing Short of Criminal, Mar. 17, 1952.
- ^ Ron Chernow, The House of Morgan, (Touchstone Books, 1990), pp. 502-503.
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