Ryan Beck & Co.

Last updated
Ryan Beck & Co.
Company typeAcquired
Industry Financial services
PredecessorJohn J. Ryan & Co.
Founded1947
FounderJohn J. Ryan
Roy G. Beck
Defunct2007
FateAcquired in 2007 by Stifel Financial
Headquarters West Orange, New Jersey (First HQ)
Livingston, New Jersey (Final HQ)
Products Investment banking, Municipal bonds, Brokerage

Ryan Beck & Co. was founded in 1946 by John J. Ryan, an investment banking and brokerage firm based in New Jersey. Since its acquisition in 2007, the firm is no longer operating. Today Ryan Beck & Co. continue to provide investment banking and brokerage services under the Stifel brand.

History

The firm, originally known as John J. Ryan & Co., was founded in 1946 by John J. Ryan, a Lehman Brothers bond buyer. In 1951, Roy G. Beck, who had his own small firm, joined the firm working as the lead bond salesman.

In the early years, the firm focused on underwriting municipal bonds in New Jersey and grew relatively slowly. In 1966, John J. Ryan & Co. was named co-manager of the $179-million bond issue for the New Jersey Turnpike which established the firm as one of the leading underwriters of municipal bonds in New Jersey. Also, in the 1960s, the firm began to shift its focus toward financial services companies, particularly banks. In 1963, the firm formed a bank-stock trading and research subsidiary. In 1969, the company established a mergers and acquisitions department, which quickly earned a mandate to advise on the merger of the Bank of Sussex County into National Community Bank (later acquired by Bank of New York).

In 1986, the company completed an initial public offering on the New York Stock Exchange. In 1998, the firm was acquired by BankAtlantic. [1] In 2002, Ryan Beck announced the acquisition of the bulk of the operations Gruntal & Co., one of the oldest investment banks in U.S. in a deal that quadrupled Ryan Beck & Co's assets. [2] [3] In 2006, the firm filed to an initial public offering to sell $100m of stock [4] before changing course and selling to Stifel Financial in 2007. [5] [6] At the time of sale, Ryan Beck had approximately 1,000 employees in 40 offices, located in 14 states. [5]

Related Research Articles

<span class="mw-page-title-main">Wood Gundy</span> Canadian stock brokerage and investment banking firm

Wood Gundy Inc. was a leading Canadian stock brokerage and investment banking firm. Founded in 1905, it was acquired by the Canadian Imperial Bank of Commerce in 1988 as it attempted to build an investment banking business. The Wood Gundy name was used extensively by the bank's investment banking arm, which was known as CIBC Wood Gundy until 1997. Today, CIBC's investment banking business is known as CIBC World Markets, and the name CIBC Wood Gundy is used as the brand for the bank's retail brokerage business.

<span class="mw-page-title-main">CIBC Capital Markets</span> Investment banking subsidiary of the Canadian Imperial Bank of Commerce

CIBC Capital Markets is the investment banking subsidiary of the Canadian Imperial Bank of Commerce. The firm operates as an investment bank both in Canadian and global equity and debt capital markets. The firm provides a variety of financial services including equity and debt capital market products, mergers and acquisitions, global markets, merchant banking, and other investment banking advisory services.

<span class="mw-page-title-main">Truist Financial</span> Banking company in the U.S.

Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T and SunTrust Banks. Its bank operates 2,781 branches in 15 states and Washington, D.C., offering consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It is on the list of largest banks in the United States by assets; as of August 2023, it is the 9th largest bank with $514 billion in assets.

Dean Witter Reynolds was an American stock brokerage and securities firm catering to a variety of clients. Prior to the company's acquisition, it was among the largest firms in the securities industry with over 9,000 account executives and was among the largest members of the New York Stock Exchange. The company served over 3.2 million clients primarily in the U.S. Dean Witter provided debt and equity underwriting and brokerage as mutual funds and other saving and investment products for individual investors. The company's asset management arm, Dean Witter InterCapital, with total assets of $90.0 billion prior to the acquisition, was one of the largest asset management operations in the U.S.

<span class="mw-page-title-main">Donaldson, Lufkin & Jenrette</span> American investment bank

Donaldson, Lufkin & Jenrette (DLJ) was a U.S. investment bank founded by William H. Donaldson, Richard Jenrette, and Dan Lufkin in 1959. Its businesses included securities underwriting; sales and trading; investment and merchant banking; financial advisory services; investment research; venture capital; correspondent brokerage services; online, interactive brokerage services; and asset management.

TD Banknorth, formerly Banknorth, was a wholly owned subsidiary of the Toronto-Dominion Bank which conducted banking and insurance activities, primarily serving the northeastern area of the United States, headquartered in Portland, Maine. The bank became TD Bank, N.A. on May 31, 2008.

<span class="mw-page-title-main">Piper Sandler Companies</span> American financial services company

Piper Sandler Companies is an American multinational investment bank and financial services company, focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management and securities research. Through its principal subsidiary, Piper Sandler & Co., the company targets corporations, institutional investors, and public entities.

TD Cowen, is an American multinational investment bank and financial services division of TD Securities that operates through two business segments: a broker-dealer and an investment management division.

Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management. This includes mergers and acquisitions, restructuring, and other financial advisory services. The Capital Markets segment also includes its securities trading and investment banking activities.

PaineWebber & Co. was an American investment bank and stock brokerage firm that was acquired by the Swiss bank UBS in 2000. The company was founded in 1880 in Boston, Massachusetts, by William A. Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48 Congress Street in May 1881. The company was renamed Paine, Webber & Co. when Charles Hamilton Paine became a partner. Members of the Boston Stock Exchange, in 1890 the company acquired a seat on the New York Stock Exchange. Wallace G. Webber retired after the business weathered a major financial crisis of 1893.

<span class="mw-page-title-main">Bache & Co.</span>

Bache & Company was a securities firm that provided stock brokerage and investment banking services. The firm, which was founded in 1879, was based in New York, New York.

<span class="mw-page-title-main">Stifel</span> American investment bank

Stifel Financial Corp. is an American multinational independent investment bank and financial services company created under the Stifel name in July 1983 and listed on the New York Stock Exchange on November 24, 1986. Its predecessor company was founded in 1890 as the Altheimer and Rawlings Investment Company and is headquartered in downtown St. Louis, Missouri.

This article outlines the history of Wells Fargo & Company from its merger with Norwest Corporation and beyond. The new company chose to retain the name of "Wells Fargo" and so this article is about the history after the merger.

Keefe, Bruyette & Woods, Inc., a Stifel Company, is an investment banking firm headquartered in New York City, specializing exclusively in the financial services sector. KBW's primary business lines include research, corporate finance, equity sales and trading, equity capital markets, debt capital markets, and asset management.

<span class="mw-page-title-main">Shearson</span> Series of investment banking and retail brokerage firms

Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward Shearson and the firm he founded, Shearson Hammill & Co. Among Shearson's most notable incarnations were Shearson / American Express, Shearson Lehman / American Express, Shearson Lehman Brothers, Shearson Lehman Hutton and finally Smith Barney Shearson.

McDonald & Co. was a full-service investment firm based in Cleveland, Ohio, established in 1927. Internally, it was referred to as "McD" (mick-D). It was sold to hometown bank KeyCorp in 1998, but was eventually sold to the U.S. investment arm of Swiss banking giant UBS AG in 2007.

<span class="mw-page-title-main">Shearson, Hammill & Co.</span>

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. The firm was a member of the New York Stock Exchange, the Chicago Stock Exchange and the Chicago Mercantile Exchange.

Hornblower & Weeks was an investment banking and brokerage firm founded by Henry Hornblower and John W. Weeks in 1888. At its peak in the late 1970s, Hornblower ranked eighth among member firms of the New York Stock Exchange in number of retail offices, with 93 retail sales offices located in the United States and Europe.

<span class="mw-page-title-main">Dain Rauscher Wessels</span> American brokerage and investment banking firm

Dain Rauscher Wessels was a brokerage and investment banking firm based in Minneapolis, Minnesota. The firm traced its origins to a number of smaller regional securities firms founded in the 1920s and 1930s.

Gruntal & Co. was a boutique investment banking and brokerage firm based in New York City. Prior to its acquisition in 2002, the firm was among the oldest independent investment banking houses in the U.S. The firm was founded as Sternberger & Fuld in 1880 by Maurice Sternberger, who partnered Ludwig Fuld. Sternberger bought a seat on the New York Stock Exchange in 1881 for $20,000. They were joined in 1884 by a third partner, Samuel Sinn, and the firm became Sternberger, Fuld & Sinn, with an office at 52 Broadway in Lower Manhattan.

References

  1. "BankAtlantic Bancorp completes acquistion". Boca Raton News. June 30, 1998. pp. Section D.
  2. Newswires, Cheryl Winokur MunkDow Jones (2002-04-22). "Gruntal Switches Suitors, Enters Pact With Ryan, Beck". Wall Street Journal. ISSN   0099-9660 . Retrieved 2023-12-07.
  3. Ryan, Beck To Acquire Bulk of Gruntal. New York Times, April 23, 2002
  4. Goldstein, Matthew (2006-04-17). "Ryan Beck Files for IPO". TheStreet. Retrieved 2023-12-07.
  5. 1 2 "STIFEL FINANCIAL CORP. ANNOUNCES AGREEMENT TO PURCHASE RYAN BECK FROM BANKATLANTIC BANCORP" (PDF). Stifel Financial. January 9, 2007.
  6. Stiefel Financial to Buy Ryan Beck. New York Times, January 9, 2007