investment bank
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing is ...
Jacob H. Schiff
Jacob (; ; ar, يَعْقُوب, Yaʿqūb; gr, Ἰακώβ, Iakṓb), later given the name Israel, is regarded as a patriarch of the Israelites and is an important figure in Abrahamic religions, such as Judaism, Christianity, and Islam. Ja ...
, Loeb's son-in-law, it grew to be one of the most influential
investment bank
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing is ...
s in the late 19th and early 20th centuries, financing America's expanding railways and growth companies, including
Western Union
The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado.
Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company ch ...
and Westinghouse, and thereby becoming the principal rival of J.P. Morgan & Co.
In the years following Schiff's death in 1920, the firm was led by
Otto Kahn
Otto Hermann Kahn (February 21, 1867 – March 29, 1934) was a German-born American investment banker, collector, philanthropist, and patron of the arts. Kahn was a well-known figure, appearing on the cover of ''Time'' magazine and was sometimes ...
and Felix Warburg, men who had already solidified their roles as Schiff's able successors. However, the firm's fortunes began to fade following
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the World War II by country, vast majority of the world's countries—including all of the great power ...
, when it failed to keep pace with a rapidly changing investment banking industry, in which Kuhn, Loeb's old-world, genteel ways, did not seem to fit; the days of the gentleman-banker had passed.
The firm lost its independence from the Bulge Bracket in 1977 when it merged with
Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
, creating
Lehman Brothers, Kuhn, Loeb Inc.
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, ...
The combined firm was itself acquired in 1984 by
American Express
American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...
investment bank
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing is ...
located in
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the U ...
. It was founded in 1867, by Abraham Kuhn and Solomon Loeb. Kuhn and Loeb had created a successful merchandising business in
Cincinnati
Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state lin ...
,
Ohio
Ohio () is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Of the List of states and territories of the United States, fifty U.S. states, it is the List of U.S. states and territories by area, 34th-l ...
, when they decided to move east, to New York, to take advantage of the country's burgeoning economic expansion. Company records indicate that by the time Kuhn and Loeb established their partnership, they were able to capitalize it at $500,000 (equivalent of about $ million in ). On January 1, 1875, Jacob Schiff (1847–1920), Solomon Loeb's son-in-law, joined the firm. He eventually became its leader and grew the firm into the second most prestigious investment bank in the United States behind J. Pierpont Morgan's J.P. Morgan & Co.
The firm grew to prominence during the railroad era in the United States. Americans saw great hope and promise in railroads and investors saw great opportunities to profit. Kuhn, Loeb, like all investment banks, brought capital together with commercial opportunity. Its first meaningful entry into railroad financing was in 1877 when it raised funds for the
Chicago and North Western Railroad
The Chicago and North Western was a Railroad classes#Class I, Class I railroad in the Midwestern United States. It was also known as the "North Western". The railroad operated more than of track at the turn of the 20th century, and over of t ...
, and several years later, in 1881, for the
Pennsylvania Railroad
The Pennsylvania Railroad (reporting mark PRR), legal name The Pennsylvania Railroad Company also known as the "Pennsy", was an American Class I railroad that was established in 1846 and headquartered in Philadelphia, Pennsylvania. It was named ...
Union Pacific
The Union Pacific Railroad , legally Union Pacific Railroad Company and often called simply Union Pacific, is a freight-hauling railroad that operates 8,300 locomotives over routes in 23 U.S. states west of Chicago and New Orleans. Union Pac ...
in 1897, helping to place the firm on sound financial footing. In 1901, with Kuhn, Loeb's financial support, E. H. Harriman famously battled James Jerome Hill and
J.P. Morgan
JP may refer to:
Arts and media
* ''JP'' (album), 2001, by American singer Jesse Powell
* ''Jp'' (magazine), an American Jeep magazine
* ''Jönköpings-Posten'', a Swedish newspaper
* Judas Priest, an English heavy metal band
* ''Jurassic Park ...
to acquire control of the
Northern Pacific Railroad
The Northern Pacific Railway was a transcontinental railroad that operated across the northern tier of the western United States, from Minnesota to the Pacific Northwest. It was approved by Congress in 1864 and given nearly of land grants, wh ...
.
The firm was long associated with many of America's emerging industrial giants, providing financial backing for Westinghouse and
Western Union
The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado.
Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company ch ...
, as well as innovative consumer giants like the
Polaroid Corporation
Polaroid is an American company best known for its instant film and cameras. The company was founded in 1937 by Edwin H. Land, to exploit the use of its Polaroid polarizing polymer. Land ran the company until 1981. Its peak employment was 21,0 ...
. The firm also enjoyed respect as a trusted adviser overseas, providing services to numerous foreign governments, including the governments of Austria, Finland, Mexico and Venezuela.
It also acted as the leading investment house for John D. Rockefeller, through the guidance of his investment adviser, Frederick T. Gates. Rockefeller invested in many syndicates with the bank, including major stakes in the prominent railroad companies, as well as contributing to its consolidation of the Chicago meatpackers, which resulted in the formation of a leading trust. Overseas ventures that Rockefeller also got involved with included the bank's loans to the Chinese and Imperial Japanese governments.
The firm also joined a partnership with Rockefeller in 1911 to gain control of the Equitable Trust Company, which was later to merge and become the
Chase Bank
JPMorgan Chase Bank, N.A., doing business as Chase Bank or often as Chase, is an American national bank headquartered in New York City, that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and ...
.
Famous partners of the firm included
Otto Kahn
Otto Hermann Kahn (February 21, 1867 – March 29, 1934) was a German-born American investment banker, collector, philanthropist, and patron of the arts. Kahn was a well-known figure, appearing on the cover of ''Time'' magazine and was sometimes ...
Lewis Strauss
Lewis Lichtenstein Strauss ( "straws"; January 31, 1896January 21, 1974) was an American businessman, philanthropist, and naval officer who served two terms on the U.S. Atomic Energy Commission (AEC), the second as its chairman. He was a major ...
, and
Sigmund Warburg
Sir Siegmund George Warburg (30 September 1902 – 18 October 1982) was a German-born English banker. He was a member of the prominent Warburg family. He played a prominent role in the development of merchant banking.S.G. Warburg.
In its early years, intermarriage among the German-Jewish elite was common. Consequently, the partners of Kuhn, Loeb were closely related by blood and marriage to the partners of J & W Seligman, Speyer & Co., Goldman, Sachs & Co.,
Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
and other prominent German-Jewish firms. Prior to the Second World War, a particularly close relationship existed between the partners of Kuhn, Loeb and M. M. Warburg & Co. of Hamburg, Germany, through Paul and Felix, who were Kuhn, Loeb partners. Later on, following World War II, their cousin Sigmund Warburg would briefly continue this relationship as a partner and Executive Director of the firm.
The firm's fortunes began to fade in the years following World War II. Wall Street was changing and shifting away from relationship banking. Kuhn, Loeb's world of gentlemen bankers was gradually being replaced by a more aggressive, transaction-oriented Wall Street, with underwriters entering the trenches and selling securities directly to the public—territory Kuhn, Loeb stubbornly refused to enter. When asked how many people worked at Kuhn, Loeb, one partner famously quipped, "about half". Such was life at Kuhn, Loeb, resting on its laurels, while Wall Street passed it by.
In 1977, facing a capital crisis, the firm succumbed and merged with
Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
, to form Lehman Brothers, Kuhn, Loeb Inc. Internationally, the merged firms were known as Kuhn Loeb Lehman Brothers Inc., in recognition Kuhn Loeb's superior international reputation.
The merger did not, however, prove to be the panacea to what ailed Kuhn, Loeb. Indeed, as detailed more closely in the
Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
history, a period of bitter internal strife ended in 1984 when the firm sold itself to Shearson/
American Express
American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...
, itself the product of a recent merger between American Express and Sandy Weill's,
Shearson Loeb Rhoades
Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward ShearsonE.F. Hutton
EF Hutton was an American stock brokerage firm founded in 1904 by Edward Francis Hutton and his brother, Franklyn Laws Hutton. Later, it was led by well known Wall Street trader Gerald M. Loeb. Under their leadership, EF Hutton became one of ...
, becoming Shearson Lehman Hutton. Ultimately, however, American Express could not make the pieces of its financial services supermarket work. In 1993, under then newly appointed CEO, Harvey Golub, the firm sold its retail brokerage operations to Primerica. In 1994, it spun off a beleaguered Lehman Brothers as Lehman Brothers Holdings Inc., in an initial public offering.
Although the Kuhn, Loeb name is probably gone forever, the firm's legacy is not. Former Kuhn, Loeb employees remain in senior positions throughout Wall Street, and until recently, at Lehman Brothers. Vestiges of the firm survived in the form of Lehman Brothers' extensive fixed income capabilities, including many of their bond indices, such as the Government/Credit index. This index, originally created in 1973 by Kuhn, Loeb, as the Government/Corporate index, was among the first generation of bond index data to measure the fixed income market. It is still the preeminent benchmark in its class.
Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
(this is not a comprehensive list):"Salomon Smith Barney" from Gambee, Robert. Wall Street '. W. W. Norton & Company, 1999. p.73
Partners of the Firm
General Partners
* Abraham Kuhn (1867–1887)
* Solomon Loeb^ (1867–1899)
* Samuel Wolff (1867–1872)
* Samuel Kuhn (1868–1869)
* Jacob Netter (1867–1869)
*
Jacob H. Schiff
Jacob (; ; ar, يَعْقُوب, Yaʿqūb; gr, Ἰακώβ, Iakṓb), later given the name Israel, is regarded as a patriarch of the Israelites and is an important figure in Abrahamic religions, such as Judaism, Christianity, and Islam. Ja ...
^ (1875–1920)
* Abraham Wolff (1875–1900)
* Michael Gernsheim (1875–1881)
* Lewis S. Wolff (1884–1891)
*
James Loeb
James Loeb (; ; August 6, 1867 – May 27, 1933) was an American banker, Hellenist and philanthropist.
Biography
James Loeb was the second born son of Solomon Loeb and Betty Loeb. He joined his father at Kuhn, Loeb & Co. in 1888 and was made ...
(1894–1901)
*
Louis A. Heinsheimer Louis may refer to:
* Louis (coin)
* Louis (given name), origin and several individuals with this name
* Louis (surname)
* Louis (singer), Serbian singer
* HMS ''Louis'', two ships of the Royal Navy
See also
Derived or associated terms
* Lewis ( ...
Otto H. Kahn
Otto Hermann Kahn (February 21, 1867 – March 29, 1934) was a German-born American Investment banking, investment banker, collecting, collector, Philanthropy, philanthropist, and patron of the arts. Kahn was a well-known figure, appearing on the ...
Paul M. Warburg
Paul Moritz Warburg (August 10, 1868 – January 24, 1932) was a German-born American investment banker who served as the 2nd Vice Chair of the Federal Reserve from 1916 to 1918. Prior to his term as vice chairman, Warburg appointed as a member ...
(1903–1914)
* Jerome J. Hanauer** (1912–1932)
* Gordon Leith (London) (1927–1930)
* George W. Bovenizer (1929–1961)
*
Lewis L. Strauss
Lewis Lichtenstein Strauss ( "straws"; January 31, 1896January 21, 1974) was an American businessman, philanthropist, and naval officer who served two terms on the U.S. Atomic Energy Commission (AEC), the second as its chairman. He was a major ...
John M. Schiff
John Mortimer Schiff (August 26, 1904 – May 9, 1987) was an American investment banker and philanthropist. He was a partner in the firm Kuhn, Loeb & Co., as well as a trustee of the John Simon Guggenheim Memorial Foundation, a breeder of champi ...
Elisha Walker
Elisha Walker (October 8, 1879 – 1950) was an American businessman and writer. He was born in New York City. Isaac Walker was his father. He studied at Hotchkiss School, Yale and Massachusetts Institute of Technology.
He was an officer in a rail ...
(1933–1950)
* Percy M. Stewart (1941 – ?)
* Robert F. Brown (1941 – ?)
* Robert E. Walker (1949–1958)
* J. Emerson Thors (1949 – ?)
*
J. Richardson Dilworth
Joseph Richardson Dilworth (June 9, 1916 – December 29, 1997) was a leading businessman, best known for being a senior financial adviser for the Rockefeller family. He also served as a director at many other companies and financial institutions i ...
(1952–1958)
* Jonas C. Andersen (1955–1956)
* Sir Siegmund G. Warburg (London) (1956–1964)
* David T. Miralia (1957 – ?)
* Kenneth N. Hall (1956 – ?)
* Henry Necarsulmer (1956–1977)
* Charles J. Ely (1956 – ?)
* Bernard Einhorn (1965–1967)
* Nathaniel Samuels^ (1955–1974)
* Morris H. Wright
* John M. Leonard
* Alvin E. Friedman (1962 – ?)
* John S. Guest (1962 – ?)
* Jerome S. Katzin (1962–1977)
* John T. Monzani (1962–?)
* H. Spottswood White (1962–?)
*
Thomas E. Dewey Jr.
Thomas Edmund Dewey Jr. (October 2, 1932 – December 6, 2021) was a New York businessman and the elder son of the former governor of New York and two-time Republican presidential nominee, Thomas E. Dewey.
Career biography
Dewey earned a BA fro ...
(1966–1975)
* Andre Istel (1964–1966)
*
Harvey M. Krueger
Harvey Mark Krueger (April 16, 1929 – April 23, 2017) was an American investment banker, former CEO and President of Kuhn, Loeb & Co. known for being the first banker to bring Israel to the international capital markets and helped broker the ...
^ (1965–1977)
* Anthony M. Lund
* William H. Todd
* Yves-Andres Istel (1966 – ?)
* John K. Libby (1967–1977)
* James H. Manges (1967 – ?)
*
David T. Schiff
David (; , "beloved one") (traditional spelling), , ''Dāwūd''; grc-koi, Δαυΐδ, Dauíd; la, Davidus, David; gez , ዳዊት, ''Dawit''; xcl, Դաւիթ, ''Dawitʿ''; cu, Давíдъ, ''Davidŭ''; possibly meaning "beloved one". w ...
(1967 – ?)
* Sydney S. Netreba (1968 – ?)
* Sidney J. Sauerhaft (1968 – ?)
* Joseph F. Schwartz (1968 – ?)
* John Barry Ryan III (1969 -)
* Edgar R. Koerner (1969 – ?)
* Archie E. Albright (1969 – ?)
* Mark C. Feer (1969–1977)
* W. Richard Bingham (1970 – ?)
* James A. Favia (1970 – ?)
* William M. Kearns Jr. (1970 – ?)
* Norman W. Stewart (1970 – ?)
* Clifford W. Michel (1972 – ?)
* Robert M. Shepard (1973–1977)
** First non-family member to be admitted to the partnership.
^ Indicates status as former managing partner
Partnership Summary Data
* 67 General Partners
* Longest Serving Partners:
Jacob H. Schiff
Jacob (; ; ar, يَعْقُوب, Yaʿqūb; gr, Ἰακώβ, Iakṓb), later given the name Israel, is regarded as a patriarch of the Israelites and is an important figure in Abrahamic religions, such as Judaism, Christianity, and Islam. Ja ...
Anheuser-Busch
Anheuser-Busch Companies, LLC is an American brewing company headquartered in St. Louis, Missouri. Since 2008, it has been wholly owned by Anheuser-Busch InBev SA/NV ( AB InBev), now the world's largest brewing company, which owns multiple ...
*
Automatic Data Processing, Inc.
ADP, Inc. (originally an acronym for Automatic Data Processing) is an American provider of human resources management software and services.
History
In 1949, Henry Taub founded Automatic Payrolls, Inc. as a manual payroll processing business wi ...
*
Bank Leumi
Bank Leumi ( he, בנק לאומי, lit. ''National Bank''; ar, بنك لئومي) is an Israeli bank. It was founded on February 27, 1902, in Jaffa as the ''Anglo Palestine Company'' as subsidiary of the Jewish Colonial Trust (Jüdische Koloni ...
*
Bayer
Bayer AG (, commonly pronounced ; ) is a German multinational pharmaceutical and biotechnology company and one of the largest pharmaceutical companies in the world. Headquartered in Leverkusen, Bayer's areas of business include pharmaceutica ...
*
Bethlehem Steel
The Bethlehem Steel Corporation was an American steelmaking company headquartered in Bethlehem, Pennsylvania. For most of the 20th century, it was one of the world's largest steel producing and shipbuilding companies. At the height of its succ ...
*
CIT Group
CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring, cash management, treasury management, mortgage loans, Small Business Administration loans, ...
Eastern Air Lines
Eastern Air Lines, also colloquially known as Eastern, was a major United States airline from 1926 to 1991. Before its dissolution, it was headquartered at Miami International Airport in an unincorporated area of Miami-Dade County, Florida.
Ea ...
Erie Lackawanna Railway
The Erie Lackawanna Railway , known as the Erie Lackawanna Railroad until 1968, was formed from the 1960 merger of the Erie Railroad and the Delaware, Lackawanna & Western Railroad. The official motto of the line was "The Friendly Service Route ...
*
European Coal and Steel Community
The European Coal and Steel Community (ECSC) was a European organization created after World War II to regulate the coal and steel industries. It was formally established in 1951 by the Treaty of Paris, signed by Belgium, France, Italy, Luxemb ...
(forerunner of the E.U.)
*
Ford Foundation
The Ford Foundation is an American private foundation with the stated goal of advancing human welfare. Created in 1936 by Edsel Ford and his father Henry Ford, it was originally funded by a US$25,000 gift from Edsel Ford. By 1947, after the dea ...
ITT Corporation
ITT Inc., formerly ITT Corporation, is an American worldwide manufacturing company based in Stamford, Connecticut. The company produces specialty components for the aerospace, transportation, energy and industrial markets. ITT's three businesse ...
Kingdom of Denmark
The Danish Realm ( da, Danmarks Rige; fo, Danmarkar Ríki; kl, Danmarkip Naalagaaffik), officially the Kingdom of Denmark (; ; ), is a sovereign state located in Northern Europe and Northern North America. It consists of metropolitan Denma ...
*
Kingdom of Norway
Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and t ...
*
Ericsson
(lit. "Telephone Stock Company of LM Ericsson"), commonly known as Ericsson, is a Sweden, Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in ...
, Sweden
*
Metromedia
Metromedia (also often MetroMedia) was an American media company that owned radio and television stations in the United States from 1956 to 1986 and controlled Orion Pictures from 1988 to 1997. Metromedia was established in 1956 after the DuMon ...
Power Authority of the State of New York
The New York Power Authority (NYPA), officially the Power Authority of the State of New York, is a New York State public-benefit corporation. It is the largest state public power utility in the United States. NYPA provides some of the lowest-co ...
Republic Aviation
The Republic Aviation Corporation was an American aircraft manufacturer based in Farmingdale, New York, on Long Island. Originally known as the Seversky Aircraft Company, the company was responsible for the design and production of many important ...
*
Republic of Austria
Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous ci ...
*
Republic of Finland
Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of B ...
*
Republic of Peru
, image_flag = Flag of Peru.svg
, image_coat = Escudo nacional del Perú.svg
, other_symbol = Great Seal of the State
, other_symbol_type = National seal
, national_motto = "Firm and Happy fo ...
*
Republic of the Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no),
* bik, Republika kan Filipinas
* ceb, Republika sa Pilipinas
* cbk, República de Filipinas
* hil, Republ ...
*
Republic of Venezuela
The Republic of Venezuela was a democratic republic first established in 1958, and replaced in 1999 by the Bolivarian Republic of Venezuela. Venezuela saw ten years of military dictatorship from 1948 to 1958. After the 1948 Venezuelan coup ...
Southern Pacific Transportation Company
The Southern Pacific (or Espee from the railroad initials- SP) was an American Class I railroad network that existed from 1865 to 1996 and operated largely in the Western United States. The system was operated by various companies under the ...
*
Stouffer's
Stouffer's is a brand of frozen prepared foods currently owned by Nestlé. Its products are available in the United States and Canada. Stouffer's is known for such popular fare as lasagna, macaroni and cheese, meatloaf, ravioli, and salisbury ...
*
Uniroyal
The company formerly known as the United States Rubber Company, now Uniroyal, is an American manufacturer of tires and other synthetic rubber-related products, as well as variety of items for military use, such as ammunition, explosives, chemical ...
*
Mexico
Mexico ( Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guate ...
Western Union Telegraph Company
The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado.
Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company ch ...
*
Westinghouse Electric Corporation
The Westinghouse Electric Corporation was an American manufacturing company founded in 1886 by George Westinghouse. It was originally named "Westinghouse Electric & Manufacturing Company" and was renamed "Westinghouse Electric Corporation" i ...
Operating Entities
* Kuhn, Loeb & Co. Incorporated
* Kuhn, Loeb Asia Limited
* Kuhn, Loeb Government Securities Incorporated
* Kuhn, Loeb International Limited
Office Locations
Kuhn, Loeb & Co., had a number of homes throughout its existence:
* 31 Nassau Street, New York, NY (1867)
* 30 Nassau Street, New York, NY (1884)
* 27 Pine Street, New York, NY (1894)
* 52 William Street, New York, NY (1903)
* 30 Wall Street, New York, NY, (May 31, 1955)
* 40 Wall Street, New York, NY
*
55 Water Street
55 Water Street is a skyscraper on the East River in the Financial District of Lower Manhattan, New York City. The 53-story, structure was completed in 1972. Designed by Emery Roth and Sons, the building was developed by the Uris brothers. A ...
(as Lehman Brothers Kuhn Loeb)
Value of a Dollar
In 1867 Kuhn, Loeb & Co., was reputed to have been capitalized at $500,000.00. In today's dollars, versus various benchmarks, this would be equal to:
* $7,029,288.70 using the Consumer Price Index
* $6,321,583.51 using the GDP deflator
* $55,096,551.72 using the unskilled wage
* $98,870,892.13 using the GDP per capita
* $791,998,799.52 using the United States Gross Domestic Product MeasuringWorth.com /ref>
* Auletta, Ken. ''Greed and Glory on Wall Street: The Fall of the House of Lehman''. Random House, 1985
* Birmingham, Stephen. '' Our Crowd: The Great Jewish Families of New York''. Pocket Books, 1977
* Chernow, Ron. ''The Warburgs''. Random House, 1993
* Collins, Theresa M. ''Otto Kahn: Art, Money & Modern Time''. The University of North Carolina Press, 2002
* Kuhn, Loeb & Co. ''Kuhn, Loeb & Co.: A Century of Investment Banking''. New York: privately printed, 1967
* Kuhn, Loeb & Co. ''Kuhn Loeb & Co.: Investment Banking Through Four Generations''. privately printed, 1955
* Strauss, Lewis L. ''Men and Decisions''. Doubleday, 1961
* Williams, Iain Cameron. ''The KAHNS of Fifth Avenue'', iwp publishing, February 17, 2022,