Tuesday, December 01, 2009

All gone 

Deceased Banks You Miss - The Final Table :: Business News :: Here Is The City News :: The Latest Business & Financial Markets News And Views

1. Lehman Brothers

2. Dresdner Kleinwort

3. Bear Stearns


5. Merrill Lynch

6. Salomon Brothers

7. Donaldson, Lufkin & Jenrette

8. Barings

9. Bankers Trust

10. SG Warburg

11. Swiss Bank Corporation

12. Drexel Burnham Lambert

13. First National Bank of Chicago

14. Barclays De Zoete Wedd

15. AG Edwards

16. Hill Samuel

17. Yamachi Securities

18. Paine Webber

19. Philips & Drew

20. Wachovia

21. Morgan Grenfell

22. James Capel

23. Kidder Peabody

24. Chemical Bank

25. Robert Fleming

26. Manufacturers Hanover Trust

27. Greenwich NatWst

28. Hambros

29. EF Hutton

30. Dillon Read

They missed IBT and Mellon, somehow.  Sometimes when I see Deutsche Bank, I think about the way they used to name Wall Street Partnerships (Merrill Lynch Pierce Fenner & Smith)  "Deutsche, Bankers Trust, Alex Brown, Zurich, Scudder, James D. Wolfensohn, Morgan Grenfell"


By Anonymous Anonymous, at Tue Dec 01, 09:19:00 AM:

Dean Witter Reynolds missing too.  

By Blogger Dawnfire82, at Tue Dec 01, 09:22:00 AM:

Washington Mutual.  

By Anonymous Anonymous, at Tue Dec 01, 09:53:00 AM:

There's a snicker of an article at Bloomberg this morning, concerning a "trend" at Goldman. Guns.

Yes, apparently the "proletariat" is feared now on Water Street so Glocks are becoming the new must-have for traders and bankers. I think they have more to fear from an angry Dick Fuld, or even an Axelrod, than they do from Joe-the-plumber but arming themselves is still an overreaction.  

By Blogger RPD, at Tue Dec 01, 10:24:00 AM:

I lost track of some of those. One of them was my mortgage holder. I suppose I ought to find out whom I'm paying now.  

By Blogger Nico, at Tue Dec 01, 02:33:00 PM:

Dude, Swissbank is still around, under the name "UBS". The original UBS is the bank that got absorbed in that "merger" -- only the name remained.

Also, some of the banks on that list were M&A'ed not because they were stressed, but because they were successful-but-small-enough-to-get-acquired. E.g., SG Warburg, which was acquired by Swissbank to become SBC Warburg -- again, the name survived. Similarly for Dillon Read (acquired by SBC Warburg, became SBCW Dillon Read) and Paine Webber (acquired by Swissbank-turned-UBS UBS). Swissbank, then SBCW Dillon Read, and in the process of merging with a stressed UBS, did also acquire a stressed LTCB at about the same time.

I.e., some of these banks are not deceased, only their names are.  

By Blogger "Mindles H. Dreck", at Tue Dec 01, 08:09:00 PM:

"dude" only a few of these were NOT acquired. Yet the surviving nameplates aren't quite the sum of the parts.

Drexel would be the one that disappeared most completely, but groups of alums carried on.  

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