Reynolds Securities was a publicly traded

brokerage A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be con ...

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. The firm's tagline, "We work for a world of

investors An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Type ...

. One at a time." was adapted to "We measure success one investor at a time" and was used by

Dean Witter 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 t ...

and later

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

History

Reynolds & Company was founded in 1931 in New York City by Richard S. Reynolds, Jr., a 22-year-old tobacco heir, together with Charles H. Babcock and Thomas F. Staley. In particular, Thomas F. Staley was Reynolds’ cousin (the grandson of Major D. Reynolds, an older brother of R.J. Reynolds). In 1951, another senior partner, John D. Baker, joined the company. Richard S. Reynolds' father Richard S. Reynolds, Sr. founded

U.S. Foil Company The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

, later

Reynolds Metals Reynolds Group Holdings is a New Zealand based packaging company with roots in the former Reynolds Metals Company, which was the second-largest aluminum company in the United States, and the third-largest in the world. Reynolds Metals was acquire ...

(Reynolds wrap), and his great uncle was the founder of

R. J. Reynolds Tobacco Company The R. J. Reynolds Tobacco Company (RJR) is an American tobacco manufacturing company based in Winston-Salem, North Carolina, and headquartered at the RJR Plaza Building. Founded by R. J. Reynolds in 1875, it is the second-largest tobacco comp ...

(RJR). Like Dean Witter & Co., the company survived the Depression, generating a profit each year. In 1934, Reynolds acquired F.A. Willard & Co. With the acquisition, Reynolds tripled its sales and shifted its emphasis toward underwritings.Dean Witter History
(Archived). Retrieved, June 9, 2010 In 1958, Reynolds passed its leadership to the next generation with Thomas F. Staley departing and naming Robert M. Gardiner to head the firm. Under Gardiner, Reynolds embarks on major expansion, acquiring 26 offices from A.M. Kidder & Co. Reynolds acquired another three offices and opened nine firms in new regions in the U.S. in the early 1960s. Reynolds was incorporated in 1971 as Reynolds Securities in advance of an initial public offering. By early 1971, there was speculation that Merrill Lynch would sell shares to the public. Reynolds initial public offering (and shortly thereafter Dean Witter's IPO) was part of a rush of Wall Street firms to sell an interest in their privately held businesses to public investors, following Merrill Lynch's initial public offering.
Time Magazine, Apr. 26, 1971 In 1976, Reynolds implements REYCOM, the most sophisticated high-speed wire system in the industry. Meanwhile, the firm was continuing its expansion, acquiring its first international offices in

Lugano Lugano (, , ; lmo, label=Ticinese dialect, Ticinese, Lugan ) is a city and municipality in Switzerland, part of the Lugano District in the canton of Ticino. It is the largest city of both Ticino and the Italian-speaking southern Switzerland. Luga ...

and

Lausanne, Switzerland Lausanne ( , , , ) ; it, Losanna; rm, Losanna. is the capital and largest city of the Swiss French speaking canton of Vaud. It is a hilly city situated on the shores of Lake Geneva, about halfway between the Jura Mountains and the Alps, and fac ...

. A year later, Reynolds acquired Baker Weeks & Co. whose strength was securities research.Matthews, John
Struggle and survival on Wall Street
1994 At the time of its merger with Dean Witter & Co. in 1978, Reynolds Securities had over 3,100 employees in 72 offices producing gross revenues of nearly $120 million.

References

{{reflist Financial services companies based in New York City Financial services companies established in 1931 Reynolds family 1931 establishments in New York City

History

See also

References