Seligman & Co., and was established in 1939, in the aftermath of the Glass–Steagall Act's separation of banking and underwriting activities. Union Securities had formerly been the investment banking operations of J. Eastman Dillon had been a full-time investment banking firm, founded in Pennsylvania in 1912 by Herbert Dillon and Thomas Eastman. in 1972, which itself was the product of the 1956 merger of Union Securities and Eastman Dillon & Co. merged with Eastman Dillon Union Securities & Co. In 1970, Blyth was sold for $55 million to Insurance Company of North America, in what was at the time an unusual acquisition by a company outside of the investment banking industry. to assist in developing its underwriting and distribution businesses, which were intended to complement the company's West Coast investment banking operation. In 1935, Charles Mitchell, former chairman of the National City Bank of New York and a director of the Federal Reserve Bank of New York, joined what was then Blyth & Co. in 1924, when Witter left to set up his own brokerage business, Dean Witter Reynolds. Originally known as Blyth, Witter & Co., the firm was renamed Blyth & Co. The firm was founded in San Francisco, California in 1914 by Charles R. History Blyth Witter & Co., the firm's predecessor was founded in 1914 by Charles Blyth and Dean G. The firm was merged with Paine Webber in 1979, which was later acquired by UBS AG. The firm also had a strong corporate banking business. īlyth Eastman was a leader in block trading, institutional investing, commodities brokering, and OTC trades. Blyth Eastman was among the top ten largest investment banks at the time of its acquisition. At the time of its acquisition, Blyth Eastman had more than 700 finance related employees with over 70 branch offices across the U.S. Blyth Eastman operated for many years as one of the few major investment banking firms on the West Coast of the U.S. (Blyth Eastman or BEDCO) was an American investment bank founded in 1914.
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