Mitchell, Hutchins & Co. was a securities research firm based in New York City. In 1977, it was acquired by Paine Webber.
| Industry | Financial services |
|---|---|
| Founded | June 21, 1919 |
| Defunct | May 27, 1977 |
| Fate | Acquired by Paine Webber |
History
editThe firm was founded in 1919 in Chicago, Illinois, by William H. Mitchell and James C. Hutchins, Jr. Both were members of two prominent Chicago banking families involved with the Illinois Bank & Trust. [1] The firm's first officers were W. Edwin Stanley (president), Hutchins, J. Ogden Armour, Chauncey Keep, Charles Garfield King (vice presidents), Robert A. Gardner (treasurer), and Mitchell (secretary). Its first stockholders included John J. Mitchell William Wrigley Jr. and Albert Lasker.[2]
In 1965, the company acquired D.B. Marron & Company, founded in 1959 by Donald Marron. In 1967, Marron was named president of the company. Under Marron, the firm's prominence grew significantly.
In 1975, the firm was chosen as the best research firm on Wall Street by portfolio managers.[3]
In 1977, Mitchell Hutchins was acquired by Paine Webber.[4][5][6] Paine Webber continued to use the Mitchell Hutchins brand until the company was acquired by UBS in 2000.
In 2001, Mitchell Hutchins was merged into Brinson Partners.[7]
References
edit- ^ "BANKERS GIVE SONS START.; Chicago Bond Firm Launched for Mitchell-Hutchins Heirs" (PDF). The New York Times. June 21, 1919.
- ^ "Chicago Bankers Expect New Federal Loan". Commercial West. July 19, 1919. Retrieved 23 November 2021.
- ^ Dorfman, Dan (March 17, 1975). "Mitchell Hutchins Says Buy". New York.
- ^ SLOANE, LEONARD (June 12, 1977). "SPOTLIGHT". The New York Times.
- ^ Grimes, William (May 4, 2009). "James W. Davant, Who Rose to Top of Paine Webber, Is Dead at 93". The New York Times.(subscription required)
- ^ STERNGOLD, JAMES (February 8, 1987). "Don Marron's Dream Slips Away". The New York Times.
- ^ "Asset Management: Mitchell Hutchins Renamed Brinson Advisors". The Bond Buyer. February 23, 2001.