Brown Brothers Harriman
 |
|
| Partnership | |
| Industry |
Investment banking Commercial banking Private equity Wealth management Merger and acquisitions |
| Founded |
New York, New York, US (January 1, 1931) (merger of Brown Bros. & Co. (1818), Harriman Brothers & Company (1927) and W. A. Harriman & Co. (1922) |
| Headquarters |
140 Broadway New York, New York |
| Revenue | $1.3 billion |
|
Number of employees
|
5,000 (2012) |
| Website | bbh |
Brown Brothers Harriman & Co. (BBH) is the oldest and one of the largest private banks in the United States. In 1931, the merger of Brown Brothers & Co. (founded in 1818) and Harriman Brothers & Co. formed the current BBH.
Brown Brothers Harriman is also notable for the number of influential American politicians, government appointees, and Cabinet members who have worked at the company, such as W. Averell Harriman, Prescott Bush, Robert A. Lovett, Richard W. Fisher, Robert Roosa, and Alan Greenspan.
Brown Brothers Harriman provides advisory, wealth management, commercial banking, and investor services for corporate institutions and High-net-worth individual clients. Alongside commercial banking, the firm provides global custody, foreign exchange, private equity, and merger and acquisitions, investment management for individuals and institutions, personal trust and estate administration, and securities brokerage. Organized as a partnership, BBH has approximately 5,500 staff in 17 offices throughout North America, Europe, and Asia. Currently, the firm has 38 partners, and acts as custodian and administrator for $3.3 trillion and $1.2 trillion in assets, respectively.
After immigrating to Baltimore in 1800 and building a successful linen mercantile trading business, Alexander Brown and his four sons co-founded Alex. Brown & Sons. In 1818, one son, John Alexander Brown, traveled to Philadelphia to establish John A. Brown and Co. In 1825, another son, James Brown, established Brown Brothers & Co. on Pine Street in New York and relocated to Wall Street in 1833, which eventually acquired all other Brown branches in the U.S. Another son, William Brown, had established William Brown & Co. in England in 1810, which was renamed to Brown, Shipley & Co. in 1839, and became a separate entity in 1918.
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Wikipedia