Brown Brothers Harriman & Co.
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| Brown Brothers Harriman & Co. | |
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| Type | Partnership |
| Founded | 1931 |
| Headquarters |  New York, New York |
| Industry | Investment Banking Commercial banking |
| Revenue | N/A |
| Net income | N/A |
| Employees | 3000+ (2008)[1] |
| Website | www.bbh.com |
Brown Brothers Harriman & Co. (BBH) is the oldest and largest partnership bank in the United States.[citation needed] The firm has 40 partners and employs nearly 4,000 people in eight domestic and seven overseas locations. The firm currently has $1 trillion in assets under custody, including over $16 billion for families and individuals.
The firm has three major business lines: Investor Services and Markets (Global Custody, Foreign Exchange, Securities Lending), Banking and Advisory, and Investment Management.
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[edit] History
Like many private banks, Brown Brothers Harriman didn't start out in finance. Begun nearly 200 years ago as an importer of Irish Linen, the company entered the banking business as a by-product of its success as a dry-goods merchant.
Brown Brothers Harriman & Co. was created through the 1931 merger of Brown Brothers & Co., a merchant bank founded in Philadelphia, Pennsylvania in 1818 with Harriman Ripley & Co., established in New York City in 1927.
Its initial partners were:
- W. Averell Harriman
- E. Roland Harriman
- Moreau Delano
- Thatcher Brown
- Prescott Bush
- Granger Kent Costikyan
- Louis Curtis
- Robert A. Lovett
- Ray Morris
- Knight Woolley
The new firm shifted its emphasis from investment banking to commercial banking, investment advisory services and custody.
In 2003, the company's headquarters moved from its signature location at 59 Wall Street, which it had built and occupied since the 1920s, to the Marine Midland Building at 140 Broadway.
Today, Brown Brothers Harriman & Co. provides global financial services to the world's largest and most sophisticated mutual funds, hedge funds, asset managers, financial institutions, and insurance companies. Its accolades include being the #1 U.S. agent bank for 10 consecutive years and ranking as "The Best Custodian Ever" by "Global Investor Magazine". Retrieved on 2007-11-12..
[edit] Locations
The firm has locations in the following fifteen cities around the world:
