Reynolds Securities was a publicly traded brokerage 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 Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for t ...

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

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. Richard Samuel Reynolds Sr. was the founder of the U.S. Foil Company. Early life Reynolds was born on August 15, 1881 in Madison County, North Carolina. He was the nephew of leading tobacco producer R.J. Reynolds and the son of Major Abraham D ...

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 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 and Lausanne, Switzerland. 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