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William Salomon
William Salomon (1914-2014) was an American businessman who served as managing partner of Salomon Brothers. Biography Salomon was born to a American Jews, Jewish family in New York City, the son of Percy Salomon who co-founded Salomon Brothers with his brothers, Arthur and Herbert. William joined the firm aged 19 in 1933, soon after the Wall Street Crash of 1929, Wall Street crash. He became a managing partner in 1963 and turned the firm into one of the "fearsome foursome" with Lehman Brothers, Merrill Lynch and Blyth and Company, that took on the elite white shoe banks such as Morgan Stanley and First Boston". He retired in 1978, passing the leadership to John Gutfreund, but regretted it when the latter led the partners into selling the firm for $554 million in 1981 to Phibro, a commodities trading house. He had prized the discipline of partnership, creating a structure in which partners were paid salaries and bonuses but had to retain 95 per cent of their capital in the busines ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salomon Brothers
Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York. It was one of the five largest investment banking enterprises in the United States and the most profitable firm on Wall Street during the 1980s and 1990s. Its CEO and chairman at that time, John Gutfreund, was nicknamed "the King of Wall Street". Salomon Brothers served many of the largest corporations in America. At one time, it was the leading underwriter of corporate bonds and the largest dealer of Treasury Securities in the United States. It was also one of the top firms in futures and options (known as "derivatives") and in securitization in a range of asset classes including commercial real estate securities. The bank was famed for its "cutthroat corporate culture that rewarded risk-taking with massive bonuses, punishing poor results with a swift boot." In Michael Lewis' 1989 book ''Liar's Poker'', the insider descriptions of life at Salomon gave way to the pop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |