Laidlaw Investment Banking - History - 160 Years of Change

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Laidlaw Investment Banking: A 160-Year Legacy of Evolution


Laidlaw & Company Ltd, established in 1862, stands as one of the pioneering investment banks in the United States and the United Kingdom. Renowned for its leadership in investment banking, wealth management, equity trading, hedge funds, finance investing, and advisory services, Laidlaw has a rich history marked by significant milestones.

The Early Years


Formation and Growth

- 1842: Devid Heran and James Lees founded Heran & Lees, a commission merchant house in New York City.
- 1854: Henry Bell Laidlaw joined the firm, now known as Hewitt Lees & Company.
- 1866: The firm transitioned into private banking, with Henry Bell Laidlaw becoming a partner.

Leadership and Influence

- 1873: Henry Bell Laidlaw assumed leadership, joined by his brother Charles, renaming the firm Laidlaw & Co.
- 1878: Laidlaw & Co. became a member of the New York Stock Exchange (NYSE), with Charles Laidlaw serving as a Governor.

Expansion and Innovation

- 1880: The firm relocated to 14 Wall Street, its home for the next three decades.
- 1901: Laidlaw established securities branches in Toronto and Montreal, pioneering cross-border brokerage services.
- 1902: Henry Bell Laidlaw's passing marked the end of an era, but his legacy of expansion continued.

Mid-Century Developments


Mergers and Partnerships

- 1942: The firm merged with Mackay & Co., expanding its reach in investment banking, asset management, and securities brokerage.
- 1961: London’s Hambros Bank Ltd. became a limited partner, strengthening international ties.

Strategic Acquisitions

- 1973: Acquired Coggeshall & Hick, Inc., rebranding as Laidlaw Coggeshall, Inc.
- 1976: The acquisition of Adams & Peck led to the new name, Laidlaw, Adams & Peck.

Modern Era and Global Reach


Consolidation and Growth

- 1988: Laidlaw Holdings, Inc., was created in Delaware to consolidate various divisions.
- 1994-1995: Acquired by Pacific USA Holdings Corporation, driving further growth under Larry D. Horner’s leadership.

Digital Transformation

- 1996: Acquired Howe & Rusling, Inc., enhancing investment capabilities.
- 1999: Launched the Global Electronic Exchange and acquired several firms, including Westminster Securities, expanding its global footprint.

Embracing Online Trading

- 2000: Laidlaw Global Corp. introduced Globeshare.com, one of the first global online trading platforms, revolutionizing access to global markets.

Laidlaw's journey from a small private bank to a leading global investment firm encapsulates a legacy of innovation and strategic expansion, maintaining its influence in the financial world for over a century and a half.

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