Edward Shearson
Encyclopedia
Edward Shearson was a banker, millionaire and founder of Shearson, Hammill & Co.
, which was among the largest brokerage and investment banking
firms in the United States.
Shearson, who was raised in Ontario, Canada began his career as an auditor for the Wisconsin Central Railroad before taking a position in the steel industry in 1898. Before forming Shearson, Hammill & Co.
with Caleb Wild Hammill
in 1902, Shearson had served as comptroller of U.S. Steel
and of Federal Steel Company before that. Shearson was an active member of New York society.
Shearson, Hammill merged with Hayden Stone, Inc. in 1974 and the combined firm was named Shearson Hayden Stone, retaining Shearson's name, which was widely recognized as a major underwriter and brokerage.
The Shearson name was finally abandoned in 1994 following Primerica's acquisition of Shearson from American Express
. Although initially Primerica had intended to brand its retail brokerage business as Smith Barney Shearson, the Shearson name was dropped.
Shearson married Flora Josephine Shea on November 14, 1903. The couple resided on the Upper East Side
of Manhattan
and kept a house in Greenwich, Connecticut
.
Shearson, Hammill & Co.
Shearson, Hammill & Co. was a Wall Street brokerage and investment banking firm founded in 1902 by Edward Shearson and Caleb Wild Hammill. The firm originally built its business as a stock broker as well as a broker of various commodities, particularly grain and cotton...
, which was among the largest brokerage and investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
firms in the United States.
Shearson, who was raised in Ontario, Canada began his career as an auditor for the Wisconsin Central Railroad before taking a position in the steel industry in 1898. Before forming Shearson, Hammill & Co.
Shearson, Hammill & Co.
Shearson, Hammill & Co. was a Wall Street brokerage and investment banking firm founded in 1902 by Edward Shearson and Caleb Wild Hammill. The firm originally built its business as a stock broker as well as a broker of various commodities, particularly grain and cotton...
with Caleb Wild Hammill
Caleb Wild Hammill
Caleb Wild Hammill was one of the founders of the stockbrokerage and banking investment firm of Shearson, Hammill & Co., founded in 1902 by Mr. Hammill & Edward Shearson. It was in existence from 1902 to 1974 under that original name....
in 1902, Shearson had served as comptroller of U.S. Steel
U.S. Steel
The United States Steel Corporation , more commonly known as U.S. Steel, is an integrated steel producer with major production operations in the United States, Canada, and Central Europe. The company is the world's tenth largest steel producer ranked by sales...
and of Federal Steel Company before that. Shearson was an active member of New York society.
Shearson, Hammill merged with Hayden Stone, Inc. in 1974 and the combined firm was named Shearson Hayden Stone, retaining Shearson's name, which was widely recognized as a major underwriter and brokerage.
The Shearson name was finally abandoned in 1994 following Primerica's acquisition of Shearson from American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
. Although initially Primerica had intended to brand its retail brokerage business as Smith Barney Shearson, the Shearson name was dropped.
Shearson married Flora Josephine Shea on November 14, 1903. The couple resided on the Upper East Side
Upper East Side
The Upper East Side is a neighborhood in the borough of Manhattan in New York City, between Central Park and the East River. The Upper East Side lies within an area bounded by 59th Street to 96th Street, and the East River to Fifth Avenue-Central Park...
of Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
and kept a house in Greenwich, Connecticut
Greenwich, Connecticut
Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2010 census, the town had a total population of 61,171. It is home to many hedge funds and other financial service companies. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes ...
.