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Tucker Anthony

Tucker Anthony
Company typeAcquired
IndustryFinancial services
Founded1892; 133 years ago (1892)
FounderWilliam Austin Tucker
S. Reed Anthony
FateAcquired by Royal Bank of Canada
SuccessorRBC Dain Rauscher (2000-2008)
HeadquartersBoston, Massachusetts
ProductsBrokerage, Investment banking
Total assets$48 billion[1]
SubsidiariesSutro & Co.
R.L. Day & Co.
Cleary Gull & Co.
Branch Cabell
Tucker, Anthony & Company logo c. 1910

Tucker Anthony was an independent investment banking and brokerage firm based in Boston, Massachusetts. In 2001, the firm was acquired by Royal Bank of Canada and was then merged with the bank's Dain Rauscher Wessels subsidiary to create RBC Dain Rauscher.

Overview

At the time of its acquisition, Tucker Anthony was 14th largest brokerage firm in the U.S. with 990 account executives working from more than 80 offices across the country. The firm had a particular presence in the Northeast and Mid-Atlantic including New York, Massachusetts, Pennsylvania and Virginia as well as a strong presence in California.[1]

History

The firm was founded in 1892 as Tucker & Anthony Bankers by William Austin Tucker[2] and S. Reed Anthony[3] with offices at 50 State Street. Other early partners included Phillip L. Saltonstall, Nathan Anthony and Chauncey Eldridge.[4]

In 1942, the firm merged with Burr, Gannett & Co., an old Boston-based firm.[5] In 1956, Tucker Anthony merged with R.L. Day & Co.[6]

In 1982, the firm was acquired by John Hancock Financial. During its ownership by John Hancock, the firm was operated as a division of John Hancock Freedom Securities Corporation, a holding company that also owned Sutro & Company, a San-Francisco investment management and brokerage firm founded in 1858.[7]

In 1996, the management of the firm led a leveraged buyout of what was then known as Tucker Anthony Sutro from John Hancock with the support of the private equity firm Thomas H. Lee Partners.[8] In 1998, Tucker Anthony completed a $120 million IPO, going public on the New York Stock Exchange.[9][10]

In 2001, after operating as an independent firm for five years, the firm was acquired sold to the Royal Bank of Canada and merged with the Canadian bank's recently acquired subsidiary Dain Rauscher Wessels.[11]

Tucker Anthony was the predecessor of TA Associates, the private equity firm which was established in 1968 and spun-out in 1978.

References

  1. ^ a b Royal Bank of Canada Agrees to Acquire Tucker Anthony: Highlights for the Investor Community. RBC Investor Presentation, August 1, 2001
  2. ^ "W.A. TUCKER DEAD; RETIRED FINANCIER; An Organizer and Former Senior Partner in Tucker, Anthony & Co., Bankers and Brokers. MEMBER OF OLD FAMILY Ancestor Came to Massachusetts in 1635 and Helped to Found Town of Milton". The New York Times. 26 October 1931. Retrieved 19 February 2025.
  3. ^ Times, Special to The New York (11 March 1914). "S. REED ANTHONY DEAD.; Boston Banker and Member of New York Stock Exchange". The New York Times. Retrieved 19 February 2025.
  4. ^ United States Investor, Volume 22, Part 1. Frank P. Bennett & Company. 1911. Retrieved 19 February 2025.
  5. ^ "TWO OLD-LINE FIRMS IN BOSTON TO MERGE; Tacker, Anthony & Co. to Absorb Burr, Gannett & Co". The New York Times. 12 June 1942. Retrieved 19 February 2025.
  6. ^ "BANKING FIRMS TO UNITE; Tucker, Anthony Will Merge With R.L. Day This Fall". The New York Times. 9 August 1956.
  7. ^ Cuff, Daniel F. (6 January 1988). "BUSINESS PEOPLE; John Hancock Unit Hires Ex-Prescott, Ball Chief". The New York Times.
  8. ^ Sale by Hancock Is Seen. New York Times, July 2, 1996
  9. ^ Sutro, Tucker Anthony Plan to Go Public . LA Times, January 8, 1998
  10. ^ Sutro and Tucker Anthony Banks to Go Public. LA Times, January 28, 1998
  11. ^ ROYAL BANK OF CANADA IS BUYING TUCKER ANTHONY SUTRO. New York Times, August 2, 2001
Quelle: http://en.wikipedia.org/wiki/Tucker_Anthony