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Loeb, Rhoades & Co. was a Wall Street brokerage firm founded in 1931 and acquired in 1979 by Sanford I. Weill's Shearson Hayden Stone. Although the firm would operate as Shearson Loeb Rhoades for two years, the firm would ultimately be acquired in 1981 by American Express to form Shearson/American Express and three years later Shearson Lehman/American Express. ==History== The firm was originally founded as Carl M. Loeb & Co. by father Carl M. Loeb and son John L. Loeb in 1931, shortly after the onset of the Great Depression. Carl M. Loeb & Co. merged with Rhoades & Company, a white shoe Wall Street brokerage firm, in 1937 to form what became Loeb, Rhoades & Co. Rhoades & Company had been founded in 1905 by John Harsen Rhoades, Jr. (born 1869), formerly a partner of Rhoades & Richmond.〔(Told 'Round the Ticker: Rhoades & Richmond have dissolved partnership ). New York Times, April 30, 1905〕 The firm operated under the Loeb, Rhoades name from 1937 through 1979 when it briefly used the name Shearson Loeb Rhoades, for two years prior to its acquisition by American Express in 1981. Carl Loeb, who had built his personal wealth as president of American Metals Company resigned from the company and bought a seat on the New York Stock Exchange, at the urging of his son John in 1931. Three years after Loeb left American Metals, the company's stock was nearly worthless.〔(Fulfilling The American Dream: The History Of The Loebs From Colonial Days To The Present ). Center for Jewish History〕 Together with his son John, Carl ran the firm for its first 24 years, from 1931 until his death in 1955. John L. Loeb was a partner in the firm from 1931 to 1955 and following the death of his father became the senior partner, a role which he retained through 1977 when the firm was merged. In 1951, John Loeb became a governor of the New York Stock Exchange. In 1956, Loeb Rhoades acquired a controlling interest in the Cuban Atlantic Sugar Company and sells its stake on December 31, 1958, a day before the Cuban Revolution.〔 In 1973, Carl M. Mueller assumed management control of the firm before Loeb resumed his management responsibilities in the firm in 1977. Loeb oversaw the merger of Loeb, Rhoades with Hornblower, Weeks, Noyes & Trask to form Loeb, Rhoades, Hornblower & Co. in January 1978 before handing over day to day control of the firm to his nephew, Thomas Kempner, a grandson of Carl Loeb who had joined the firm in 1950.〔 The Hornblower merger turned out to be disastrous for Loeb Rhoades. The two firms incurred significant costs attempting to merge their back office operations, both of which had issues prior to the merger. By the end of 1978, less than a year after the merger, the combined firm was losing millions of dollars. Through the 1960s and 1970s, Sanford I. Weill was acquiring brokerage firms and by 1979 was running Shearson Hayden Stone, the culmination of nearly a dozen acquisitions. By early 1979, Loeb, Rhoades, now known as Loeb, Rhoades, Hornblower & Co. was suffering and looking for a potential acquiror. During Mothers Day Weekend 1979, Loeb and Shearson agreed to a merger to form Shearson Loeb Rhoades. Weill was named the CEO of the combined firm and John Loeb became the firm's chairman. At the time, Shearson Loeb Rhoades was among the largest investment banking houses with $250 million of equity capital.〔(The Urge to Merge ). New York Magazine, May 28, 1979, p. 13〕 In 1981, Shearson Loeb Rhoades bought the Boston Company, a money manager. The same year, Weill sold the combined company to American Express to form Shearson/American Express. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Loeb, Rhoades & Co.」の詳細全文を読む スポンサード リンク
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