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Salomon Brothers

December 07, 2023

For other uses of the name Salomon, see Salomon.

Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York City. It was one of the five largest investment banking enterprises in the United States[2] and the most profitable firm on Wall Street during the 1980s and 1990s. Its CEO and chairman at that time, John Gutfreund, was nicknamed "the King of Wall Street".[3][4][5][6]

Salomon Brothers, Inc.
1 New York Plaza which was Salomon Brothers' headquarters starting in 1970
TypeAcquired
NYSE: SB
IndustryFinancial services
Founded1910
FoundersArthur Salomon
Herbert Salomon
Percy Salomon
Defunct2003 (name dropped by Citigroup)
FateAcquired by Travelers Group in 1997
SuccessorSalomon Smith Barney (1997–2004), Smith Barney (2003–2009)
Headquarters7 World Trade Center
250 Greenwich Street
New York, NY 10006
U.S.
Key people
John Gutfreund
(Chairman 1978–1991)
Warren Buffett
(Chairman 1991–1997)
Deryck Maughan
(CEO 1992–1997)
ProductsSales and trading, Investment banking
Revenue US$9.046 billion (1996)[1]
US$617 million (1996)[1]
Total assets US$194.881 billion (1996)[1]
Number of employees
 7,100 (1996)[1]

Salomon Brothers served many of the largest corporations in America. At one time, it was the leading underwriter of corporate bonds and the largest dealer of Treasury Securities in the United States. It was also one of the top firms in futures and options (known as "derivatives") and in securitization in a range of asset classes including commercial real estate securities.[7]

The bank was famed for its "cutthroat corporate culture that rewarded risk-taking with massive bonuses, punishing poor results with a swift boot."[8] In Michael Lewis' 1989 book Liar's Poker, the insider descriptions of life at Salomon gave way to the popular view of banking in the 1980s and '90s as a money-focused and work-intense environment.[9]

In February 2022, it was announced that the Salomon Brothers brand will be revived by a group of former employees and execs and operate as full-service investment bank again.[10][11]

History edit

Founding edit

Founded in 1910 by Arthur, Herbert, and Percy Salomon and a clerk, Ben Levy. The founding Salomon Brothers are descendants of Haym Salomon, primary financier of the American Revolutionary War, Consul to France, and childhood friend to Robert Morris, Founding Father and Superintendent of Finance of the United States.[12] The company remained a partnership until the early 1980s. William Salomon, the son of Percy Salomon, became a managing partner and the head of the company in 1963.[13]

In 1967, Salomon Brothers sponsored Muriel Siebert, the first woman to obtain a trading license on the floor of the New York Stock Exchange.[14]

Top ranking and public financing: 1970-1979 edit

In 1975, Salomon Brothers was formally recognized by other top investment banks as a "bulge bracket" firm, meaning it was one of the leaders in investment banking.[15] In 1979, Salomon Brothers scored a major coup when IBM insisted that Morgan Stanley accept Salomon Brothers as co-manager on a $1-billion debt issue for a new generation of IBM computers. Morgan Stanley demanded sole management, but IBM affirmed Salomon Brothers’ role as co-manager.[15] In response, Morgan Stanley refused to act as co-manager, and Salomon Brothers and Merrill Lynch were awarded top billing as a result.[16]

In 1975, Salomon Brothers also aided the state’s efforts to save New York City from bankruptcy. When the Municipal Action Committee (MAC) was established and bonds were created in its name, Salomon Brothers and Morgan Guaranty Trust organized syndicates for the $1 billion bond sale. Both of the organizations were able to place the bonds successfully.[16]

In 1978, John Gutfreund became a managing partner, and succeeded William Salomon as head of the company.[17][18]

Salomon Brothers during the 1980s edit

In 1981, it was acquired by the commodity trading firm Phibro Corporation and became Salomon Inc. It was the reverse merger that enabled Gutfreund to take the company public. Gutfreund became the CEO of the company following the reverse merger.[17][18]

During the 1980s, Salomon was noted for its innovation in the bond market, selling the first mortgage-backed security, a hitherto obscure species of financial instrument created by Ginnie Mae.[19] Shortly thereafter, Salomon purchased home mortgages from thrifts throughout the United States and packaged them into mortgage-backed securities, which it sold to local and international investors. Later, it moved away from traditional investment banking (helping companies raise funds in the capital market and negotiating mergers and acquisitions) to almost exclusively proprietary trading (the buying and selling of stocks, bonds, options, etc. for the profit of the company itself). Salomon had expertise in fixed income securities and trading based on daily swings in the bond market.[20]

The firm competed for the leveraged buyout of RJR Nabisco and the leveraged buyout of Revco stores (which ended in failure).[21][22]

In 1987, a New York Times report identified Salomon Brothers as in the top tier of firms along with Merrill Lynch, Morgan Stanley and Goldman Sachs.[23]

Salomon Brothers' success in the 1980s is documented in Michael Lewis' 1989 book, Liar's Poker. Lewis went through Salomon's training program and then became a bond salesman at Salomon Brothers in London. Lewis presented an insider description of life at Salomon Brothers, and his book became a seminal work in terms of understanding the corporate culture at Salomon Brothers in the 1980s.

Lewis describing the trading floor at Salomon:

Because the forty-first floor was the chosen home of the firm's most ambitious people, and because there were no rules governing the pursuit of profit and glory, the men who worked there, including the more bloodthirsty, had a hunted look about them. The place was governed by the simple understanding that the unbridled pursuit of perceived self interest was healthy. Eat or be eaten. The men of 41 worked with one eye cast over their shoulders to see whether someone was trying to do them in, for there was no telling what manner of man had levered himself to the rung below you and was now hungry for your job. The limit of acceptable conduct within Salomon Brothers was wide indeed. It said something about the ability of the free marketplace to mold people's behavior into a socially acceptable pattern. For this was capitalism at its most raw, and it was self-destructive...[24]

1990s treasury bonds crisis edit

In 1991, U.S. Treasury Deputy Assistant Secretary Mike Basham learned that Salomon trader Paul Mozer had been submitting false bids in an attempt to purchase more treasury bonds than permitted by one buyer during the period between December 1990 and May 1991.[citation needed] Salomon was fined $190 million for this infraction, and required to set aside $100 million in a restitution fund for any injured parties. CEO Gutfreund left the company in August 1991 and a U.S. Securities and Exchange Commission (SEC) settlement resulted in a fine of $100,000 and Gutfreund being barred from serving as a chief executive of a brokerage firm.[25] Warren Buffett briefly stepped into the CEO and chairman position.[26] Buffett later promoted Deryck Maughan to take over as chairman and CEO.[27] The scandal was then documented in the 1993 book Nightmare on Wall Street. The firm was acquired by Travelers Group in 1997.[28][29][30]

The firm's top bond traders called themselves "Big Swinging Dicks," and were the inspiration for the book The Bonfire of the Vanities, by Tom Wolfe. The expression "Big Swinging Dick(s)" itself was used to refer to the Salomon bankers who dominated the game of extraordinary profit-making.[31][9]

Some members of the Salomon Brothers' bond arbitrage, such as John Meriwether, Myron Scholes and Eric Rosenfeld later became involved with Long-Term Capital Management, a hedge fund that collapsed in 1998.[32] The last years of Salomon Brothers, culminating in its involvement with Long-Term Capital Management, is chronicled in the 2007 book A Demon of Our Own Design.

Acquisition by Citigroup edit

Salomon (NYSE:SB) was acquired by Travelers Group in 1997; and, following the latter's merger with Citicorp in 1998, Salomon became part of Citigroup. The combined investment banking operations became known as Salomon Smith Barney.[33] 7 World Trade Center, which had served as the headquarters for Salomon Brothers, continued to be used as the company's main office after the company was merged into Salomon Smith Barney.[34][35]

Although the Salomon name carried on as Salomon Smith Barney, the investment banking operations of Citigroup, the division was renamed on 7 April 2003 to "Citigroup Global Markets Inc."[36] As of 2020, Citigroup no longer owns the Salomon Brothers trademark, according to the records provided by the United States Patent and Trademark Office.[37][38]

Revival edit

In February 2022, it was announced that the Salomon Brothers brand will be revived by a group of former employees and execs. President R. Adam Smith said that the trademark had been acquired and they plan to operate as a full-service investment bank again.[10][11]

Notable employees edit

References edit

  1. ^ a b c d Travelers Group SEC Form 8-K Filing September 2007
  2. ^ "Warren Buffett's Wild Ride at Salomon (Fortune, 1997)". Fortune. Retrieved 2021-06-21.
  3. ^ Collins, Denis (1992). Lewis, Michael (ed.). "An Ethical Analysis of Organizational Power at Salomon Brothers". Business Ethics Quarterly. 2 (3): 367–377. doi:10.2307/3857539. ISSN 1052-150X. JSTOR 3857539. S2CID 53527583.
  4. ^ Tablang, Kristin. "'King of Wall Street' John Gutfreund's $120 Million Fifth Avenue Duplex Crowned New York's Priciest Home Listing". Forbes. Retrieved 2021-06-21.
  5. ^ Fox, Emily Jane (9 March 2016). ""King of Wall Street" John Gutfreund Dies at 86". Vanity Fair. Retrieved 2021-06-21.
  6. ^ Kandell, Jonathan (2016-03-10). "John Gutfreund, 86, Dies; Ran Wall Street Investment Firm at Its Apex". The New York Times. ISSN 0362-4331. Retrieved 2021-06-21.
  7. ^ Geisst (2001-03-08). The Last Partnerships: Inside the Great Wall Street Dynasties. McGraw Hill Professional. ISBN 978-0-07-136999-2.
  8. ^ Chen, Full Bio Follow Linkedin Follow Twitter James; CMT; Investing, Is the Former Director of; trader, trading content at Investopedia He is an expert; Adviser, Investment; Chen, global market strategist Learn about our editorial policies James. "Salomon Brothers". Investopedia. Retrieved 2021-06-21. {{cite web}}: |first1= has generic name (help)
  9. ^ a b Gross, Daniel (2008-09-25). "The end of the BSD". Slate Magazine. Retrieved 2021-06-21.
  10. ^ a b "Salomon Brothers alumni are reviving the swashbuckling bank made famous by 'Liar's Poker'". Fortune. 2022-02-07. Retrieved 2022-03-04.
  11. ^ a b "Salomon Brothers Alumni Tap Storied Firm's Legacy in Revival". bloomberg.com. 2022-02-06. Retrieved 2022-03-04.
  12. ^ "The unknown, unheralded patriot". blogs.timesofisrael.com. Retrieved 2021-11-25.
  13. ^ Company Profiles – FundingUniverse 1992">"History of Salomon Inc. – FundingUniverse". Search Thousands of Company Profiles – FundingUniverse. November 23, 1992. Retrieved January 11, 2018.
  14. ^ Arnold, Laurence (2013-08-26). "Wall Street pioneer Muriel Siebert, first woman to buy a seat on the NYSE". The Seattle Times. Retrieved 2021-11-25.
  15. ^ a b Chernow, Ron (2010-01-19). The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance. Grove/Atlantic, Inc. ISBN 978-0-8021-9813-6.
  16. ^ a b Geisst (2001-03-08). The Last Partnerships: Inside the Great Wall Street Dynasties. McGraw Hill Professional. ISBN 978-0-07-136999-2.
  17. ^ a b Lewis, Michael (1989). Liar's Poker: Rising Through the Wreckage on Wall Street. New York: W. W. Norton. p. 228.
  18. ^ a b "History of Salomon Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved 2021-06-21.
  19. ^ Hojnicki, Carrie. "The Spectacular Rise And Fall of Salomon Brothers". Business Insider. Retrieved 11 November 2020.
  20. ^ Sterngold, James (January 10, 1988). "TOO FAR, TOO FAST; Salomon Brothers' John Gutfreund". The New York Times.
  21. ^ "History of the RJR Nabisco Takeover". The New York Times. December 2, 1988.
  22. ^ Eichenwald, Kurt (October 31, 1991). "Rite Aid Seeks to Buy Revco As Salomon Settles Lawsuit". The New York Times.
  23. ^ Gilpin, Kenneth N. (1987-10-05). "Split in 'Tombstone' Ranks". The New York Times. ISSN 0362-4331. Retrieved 2021-12-12.
  24. ^ Lewis, pp. 69–70
  25. ^ Ex-Salomon Chief's Costly Battle, The New York Times, August 19, 1994
  26. ^ "This is the moment America met Warren Buffett". finance.yahoo.com. 30 April 2019. Retrieved 2022-05-21.
  27. ^ "Citigroup purge costs Britain's great survivor his job". the Guardian. 2004-10-21. Retrieved 2022-05-21.
  28. ^ "SEC filing by SALOMON SMITH BARNEY HOLDINGS INC". sec.gov. 1999-08-12.
  29. ^ "Travelers to Buy Salomon Bros. for $9 Billion". Los Angeles Times. 1997-09-25. Retrieved 2021-12-12.
  30. ^ "Travelers Agrees to Acquire Salomon for $9 Billion in Stock". Wall Street Journal. 1997-09-25. ISSN 0099-9660. Retrieved 2021-12-12.
  31. ^ Conversations with Tom Wolfe. Scura, Dorothy McInnis. Jackson: University Press of Mississippi. 1990. pp. 262. ISBN 087805426X. OCLC 20630163.{{cite book}}: CS1 maint: others (link)
  32. ^ When Genius Failed: The Rise and Fall of Long-Term Capital Management
  33. ^ "A timeline of Salomon brothers". Business Insider. Retrieved 16 July 2018.
  34. ^ "Fema 403 - Chapter 5 - WTC 7" (PDF). Federal Emergency Management Agency. Retrieved 2021-12-25.
  35. ^ Lueck, Thomas J. (1988-11-29). "Salomon Will Move to Trade Center". The New York Times. ISSN 0362-4331. Retrieved 2021-12-25.
  36. ^ http://www.citigroup.com/citi/investor/data/k04cgm.pdf?ieNocache=32[bare URL PDF]
  37. ^ "Citigroup to Drop Salomon Name To Streamline Its Multiple Brands". The Wall Street Journal. 23 May 2001.
  38. ^ "Trademark Electronic Search System (TESS)". United States Patent and Trademark Office.
  39. ^ a b c d e f g Du, Lisa. "Salomon Brothers Alums: Where Are They Now?". Business Insider. Retrieved 2020-07-17.
  40. ^ Nasar, Sylvia (1994-05-13). "A Top Executive's Puzzling Death". The New York Times. ISSN 0362-4331. Retrieved 2020-07-17.

Further reading edit

December 07, 2023
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For other uses of the name Salomon see Salomon Salomon Brothers Inc was an American multinational bulge bracket investment bank headquartered in New York City It was one of the five largest investment banking enterprises in the United States 2 and the most profitable firm on Wall Street during the 1980s and 1990s Its CEO and chairman at that time John Gutfreund was nicknamed the King of Wall Street 3 4 5 6 Salomon Brothers Inc 1 New York Plaza which was Salomon Brothers headquarters starting in 1970TypeAcquiredTraded asNYSE SBIndustryFinancial servicesFounded1910FoundersArthur SalomonHerbert SalomonPercy SalomonDefunct2003 name dropped by Citigroup FateAcquired by Travelers Group in 1997SuccessorSalomon Smith Barney 1997 2004 Smith Barney 2003 2009 Headquarters7 World Trade Center250 Greenwich StreetNew York NY 10006U S Key peopleJohn Gutfreund Chairman 1978 1991 Warren Buffett Chairman 1991 1997 Deryck Maughan CEO 1992 1997 ProductsSales and trading Investment bankingRevenueUS 9 046 billion 1996 1 Net incomeUS 617 million 1996 1 Total assetsUS 194 881 billion 1996 1 Number of employees7 100 1996 1 Salomon Brothers served many of the largest corporations in America At one time it was the leading underwriter of corporate bonds and the largest dealer of Treasury Securities in the United States It was also one of the top firms in futures and options known as derivatives and in securitization in a range of asset classes including commercial real estate securities 7 The bank was famed for its cutthroat corporate culture that rewarded risk taking with massive bonuses punishing poor results with a swift boot 8 In Michael Lewis 1989 book Liar s Poker the insider descriptions of life at Salomon gave way to the popular view of banking in the 1980s and 90s as a money focused and work intense environment 9 In February 2022 it was announced that the Salomon Brothers brand will be revived by a group of former employees and execs and operate as full service investment bank again 10 11 Contents 1 History 1 1 Founding 1 2 Top ranking and public financing 1970 1979 1 3 Salomon Brothers during the 1980s 1 4 1990s treasury bonds crisis 1 5 Acquisition by Citigroup 1 6 Revival 2 Notable employees 3 References 4 Further readingHistory editFounding edit Founded in 1910 by Arthur Herbert and Percy Salomon and a clerk Ben Levy The founding Salomon Brothers are descendants of Haym Salomon primary financier of the American Revolutionary War Consul to France and childhood friend to Robert Morris Founding Father and Superintendent of Finance of the United States 12 The company remained a partnership until the early 1980s William Salomon the son of Percy Salomon became a managing partner and the head of the company in 1963 13 In 1967 Salomon Brothers sponsored Muriel Siebert the first woman to obtain a trading license on the floor of the New York Stock Exchange 14 Top ranking and public financing 1970 1979 edit In 1975 Salomon Brothers was formally recognized by other top investment banks as a bulge bracket firm meaning it was one of the leaders in investment banking 15 In 1979 Salomon Brothers scored a major coup when IBM insisted that Morgan Stanley accept Salomon Brothers as co manager on a 1 billion debt issue for a new generation of IBM computers Morgan Stanley demanded sole management but IBM affirmed Salomon Brothers role as co manager 15 In response Morgan Stanley refused to act as co manager and Salomon Brothers and Merrill Lynch were awarded top billing as a result 16 In 1975 Salomon Brothers also aided the state s efforts to save New York City from bankruptcy When the Municipal Action Committee MAC was established and bonds were created in its name Salomon Brothers and Morgan Guaranty Trust organized syndicates for the 1 billion bond sale Both of the organizations were able to place the bonds successfully 16 In 1978 John Gutfreund became a managing partner and succeeded William Salomon as head of the company 17 18 Salomon Brothers during the 1980s edit In 1981 it was acquired by the commodity trading firm Phibro Corporation and became Salomon Inc It was the reverse merger that enabled Gutfreund to take the company public Gutfreund became the CEO of the company following the reverse merger 17 18 During the 1980s Salomon was noted for its innovation in the bond market selling the first mortgage backed security a hitherto obscure species of financial instrument created by Ginnie Mae 19 Shortly thereafter Salomon purchased home mortgages from thrifts throughout the United States and packaged them into mortgage backed securities which it sold to local and international investors Later it moved away from traditional investment banking helping companies raise funds in the capital market and negotiating mergers and acquisitions to almost exclusively proprietary trading the buying and selling of stocks bonds options etc for the profit of the company itself Salomon had expertise in fixed income securities and trading based on daily swings in the bond market 20 The firm competed for the leveraged buyout of RJR Nabisco and the leveraged buyout of Revco stores which ended in failure 21 22 In 1987 a New York Times report identified Salomon Brothers as in the top tier of firms along with Merrill Lynch Morgan Stanley and Goldman Sachs 23 Salomon Brothers success in the 1980s is documented in Michael Lewis 1989 book Liar s Poker Lewis went through Salomon s training program and then became a bond salesman at Salomon Brothers in London Lewis presented an insider description of life at Salomon Brothers and his book became a seminal work in terms of understanding the corporate culture at Salomon Brothers in the 1980s Lewis describing the trading floor at Salomon Because the forty first floor was the chosen home of the firm s most ambitious people and because there were no rules governing the pursuit of profit and glory the men who worked there including the more bloodthirsty had a hunted look about them The place was governed by the simple understanding that the unbridled pursuit of perceived self interest was healthy Eat or be eaten The men of 41 worked with one eye cast over their shoulders to see whether someone was trying to do them in for there was no telling what manner of man had levered himself to the rung below you and was now hungry for your job The limit of acceptable conduct within Salomon Brothers was wide indeed It said something about the ability of the free marketplace to mold people s behavior into a socially acceptable pattern For this was capitalism at its most raw and it was self destructive 24 1990s treasury bonds crisis edit In 1991 U S Treasury Deputy Assistant Secretary Mike Basham learned that Salomon trader Paul Mozer had been submitting false bids in an attempt to purchase more treasury bonds than permitted by one buyer during the period between December 1990 and May 1991 citation needed Salomon was fined 190 million for this infraction and required to set aside 100 million in a restitution fund for any injured parties CEO Gutfreund left the company in August 1991 and a U S Securities and Exchange Commission SEC settlement resulted in a fine of 100 000 and Gutfreund being barred from serving as a chief executive of a brokerage firm 25 Warren Buffett briefly stepped into the CEO and chairman position 26 Buffett later promoted Deryck Maughan to take over as chairman and CEO 27 The scandal was then documented in the 1993 book Nightmare on Wall Street The firm was acquired by Travelers Group in 1997 28 29 30 The firm s top bond traders called themselves Big Swinging Dicks and were the inspiration for the book The Bonfire of the Vanities by Tom Wolfe The expression Big Swinging Dick s itself was used to refer to the Salomon bankers who dominated the game of extraordinary profit making 31 9 Some members of the Salomon Brothers bond arbitrage such as John Meriwether Myron Scholes and Eric Rosenfeld later became involved with Long Term Capital Management a hedge fund that collapsed in 1998 32 The last years of Salomon Brothers culminating in its involvement with Long Term Capital Management is chronicled in the 2007 book A Demon of Our Own Design Acquisition by Citigroup edit Salomon NYSE SB was acquired by Travelers Group in 1997 and following the latter s merger with Citicorp in 1998 Salomon became part of Citigroup The combined investment banking operations became known as Salomon Smith Barney 33 7 World Trade Center which had served as the headquarters for Salomon Brothers continued to be used as the company s main office after the company was merged into Salomon Smith Barney 34 35 Although the Salomon name carried on as Salomon Smith Barney the investment banking operations of Citigroup the division was renamed on 7 April 2003 to Citigroup Global Markets Inc 36 As of 2020 Citigroup no longer owns the Salomon Brothers trademark according to the records provided by the United States Patent and Trademark Office 37 38 Revival edit In February 2022 it was announced that the Salomon Brothers brand will be revived by a group of former employees and execs President R Adam Smith said that the trademark had been acquired and they plan to operate as a full service investment bank again 10 11 Notable employees editMichael Lewis American author and financial journalist author of The Big Short worked as a bond salesman in London for Salomon Brothers in the late 1980s 39 John Meriwether American hedge fund manager head of fixed income trading and was promoted to vice chairman in 1988 39 Michael Bloomberg former mayor of New York City 2002 2013 head of equity trading and systems development in the 1970s 39 John Lipsky acting managing director of the International Monetary Fund from May to July 2011 former director of European Economic and Market Analysis Group until 1992 39 Lewis Ranieri father of mortgage backed securities headed the mortgage bonds desk at Salomon and reached the post of vice chairman 39 John Gutfreund former chairman and CEO of Salomon Brothers who made the firm public 39 Myron Scholes economist who invented the Black Scholes model recipient of the Nobel Memorial Prize in Economic Sciences in 1997 former managing director of fixed income derivatives 39 Gedale B Horowitz founder and chairman of the Public Securities Association and Securities Industry Association founding chairman of the Municipal Securities Rulemaking Board member of the firm s executive committee 40 Michael Corbat CEO of Citigroup from 2012 to 2021 began his career in the mortgage department in 1983 References edit a b c d Travelers Group SEC Form 8 K Filing September 2007 Warren Buffett s Wild Ride at Salomon Fortune 1997 Fortune Retrieved 2021 06 21 Collins Denis 1992 Lewis Michael ed An Ethical Analysis of Organizational Power at Salomon Brothers Business Ethics Quarterly 2 3 367 377 doi 10 2307 3857539 ISSN 1052 150X JSTOR 3857539 S2CID 53527583 Tablang Kristin King of Wall Street John Gutfreund s 120 Million Fifth Avenue Duplex Crowned New York s Priciest Home Listing Forbes Retrieved 2021 06 21 Fox Emily Jane 9 March 2016 King of Wall Street John Gutfreund Dies at 86 Vanity Fair Retrieved 2021 06 21 Kandell Jonathan 2016 03 10 John Gutfreund 86 Dies Ran Wall Street Investment Firm at Its Apex The New York Times ISSN 0362 4331 Retrieved 2021 06 21 Geisst 2001 03 08 The Last Partnerships Inside the Great Wall Street Dynasties McGraw Hill Professional ISBN 978 0 07 136999 2 Chen Full Bio Follow Linkedin Follow Twitter James CMT Investing Is the Former Director of trader trading content at Investopedia He is an expert Adviser Investment Chen global market strategist Learn about our editorial policies James Salomon Brothers Investopedia Retrieved 2021 06 21 a href Template Cite web html title Template Cite web cite web a first1 has generic name help a b Gross Daniel 2008 09 25 The end of the BSD Slate Magazine Retrieved 2021 06 21 a b Salomon Brothers alumni are reviving the swashbuckling bank made famous by Liar s Poker Fortune 2022 02 07 Retrieved 2022 03 04 a b Salomon Brothers Alumni Tap Storied Firm s Legacy in Revival bloomberg com 2022 02 06 Retrieved 2022 03 04 The unknown unheralded patriot blogs timesofisrael com Retrieved 2021 11 25 Company Profiles FundingUniverse 1992 gt History of Salomon Inc FundingUniverse Search Thousands of Company Profiles FundingUniverse November 23 1992 Retrieved January 11 2018 Arnold Laurence 2013 08 26 Wall Street pioneer Muriel Siebert first woman to buy a seat on the NYSE The Seattle Times Retrieved 2021 11 25 a b Chernow Ron 2010 01 19 The House of Morgan An American Banking Dynasty and the Rise of Modern Finance Grove Atlantic Inc ISBN 978 0 8021 9813 6 a b Geisst 2001 03 08 The Last Partnerships Inside the Great Wall Street Dynasties McGraw Hill Professional ISBN 978 0 07 136999 2 a b Lewis Michael 1989 Liar s Poker Rising Through the Wreckage on Wall Street New York W W Norton p 228 a b History of Salomon Inc FundingUniverse www fundinguniverse com Retrieved 2021 06 21 Hojnicki Carrie The Spectacular Rise And Fall of Salomon Brothers Business Insider Retrieved 11 November 2020 Sterngold James January 10 1988 TOO FAR TOO FAST Salomon Brothers John Gutfreund The New York Times History of the RJR Nabisco Takeover The New York Times December 2 1988 Eichenwald Kurt October 31 1991 Rite Aid Seeks to Buy Revco As Salomon Settles Lawsuit The New York Times Gilpin Kenneth N 1987 10 05 Split in Tombstone Ranks The New York Times ISSN 0362 4331 Retrieved 2021 12 12 Lewis pp 69 70 Ex Salomon Chief s Costly Battle The New York Times August 19 1994 This is the moment America met Warren Buffett finance yahoo com 30 April 2019 Retrieved 2022 05 21 Citigroup purge costs Britain s great survivor his job the Guardian 2004 10 21 Retrieved 2022 05 21 SEC filing by SALOMON SMITH BARNEY HOLDINGS INC sec gov 1999 08 12 Travelers to Buy Salomon Bros for 9 Billion Los Angeles Times 1997 09 25 Retrieved 2021 12 12 Travelers Agrees to Acquire Salomon for 9 Billion in Stock Wall Street Journal 1997 09 25 ISSN 0099 9660 Retrieved 2021 12 12 Conversations with Tom Wolfe Scura Dorothy McInnis Jackson University Press of Mississippi 1990 pp 262 ISBN 087805426X OCLC 20630163 a href Template Cite book html title Template Cite book cite book a CS1 maint others link When Genius Failed The Rise and Fall of Long Term Capital Management A timeline of Salomon brothers Business Insider Retrieved 16 July 2018 Fema 403 Chapter 5 WTC 7 PDF Federal Emergency Management Agency Retrieved 2021 12 25 Lueck Thomas J 1988 11 29 Salomon Will Move to Trade Center The New York Times ISSN 0362 4331 Retrieved 2021 12 25 http www citigroup com citi investor data k04cgm pdf ieNocache 32 bare URL PDF Citigroup to Drop Salomon Name To Streamline Its Multiple Brands The Wall Street Journal 23 May 2001 Trademark Electronic Search System TESS United States Patent and Trademark Office a b c d e f g Du Lisa Salomon Brothers Alums Where Are They Now Business Insider Retrieved 2020 07 17 Nasar Sylvia 1994 05 13 A Top Executive s Puzzling Death The New York Times ISSN 0362 4331 Retrieved 2020 07 17 Further reading editSobel Robert 1986 Salomon Brothers 1910 1985 Advancing to Leadership New York Salomon Brothers Lowenstein Roger 2000 When Genius Failed The Rise and Fall of Long Term Capital Management Random House ISBN 0 375 50317 X Mayer Martin 1993 Nightmare on Wall Street Salomon Brothers and the Corruption of the Marketplace Simon amp Schuster ISBN 9780671781873 Liar s Poker Rising Through the Wreckage on Wall Street by Michael Lewis Penguin Books Retrieved from https en wikipedia org w index php title Salomon Brothers amp oldid 1188031076, wikipedia, wiki, book, books, library,

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