DuPont Walston

DuPont Walston, Inc. was a former U.S. brokerage and investment banking firm. At its peak in the early 1970s, DuPont Walston was the second largest brokerage firm in the U.S. However, the firm collapsed following a series of mergers and closed in 1974.[1]

DuPont Walston was formed from the 1973 merger of F. I. DuPont, Glore Forgan & Co. and Walston & Co. The latter, Wall Street's third largest brokerage house, was acquired by Ross Perot following pension account fraud, who then merged it with Dupont, which had found itself in financial difficulties.[2][3][4]

Just a few years earlier, F.I. Dupont had been created through the 1970 combination of Francis I. duPont Co. and Glore Forgan Staats, Inc.,[5] which itself was formed through the combination of Glore, Forgan Co. and Wm. R. Staats Co. in 1964.[6]

References

  1. ↑ "Perot's Orderly Retreat". Time Magazine. Wall Street (New York). 1974-02-04. Retrieved 5 August 2013.
  2. ↑ Lundin, Leigh (2013-06-16). "The Digital Detective, Wall Street part 1". Financial Fraud. New York: SleuthSayers.
  3. ↑ Lundin, Leigh (2013-06-23). "The Digital Detective, Wall Street part 2". Financial Fraud. New York: SleuthSayers.
  4. ↑ "Mr. Nice Guy Goes to Wall St.". Time Magazine. Investment (New York). 1971-05-03. Retrieved 5 August 2013.
  5. ↑ Robards, Terry (1970-06-04). "F.I. DUPONT SETS A MAJOR MERGER; Glore Forgan Staats, Inc., an Investment Banker, and Firm Plan Union BROKER RAN '69 DEFICIT Combined Concern Will Be the Largest Partnership Operating on Wall St". The New York Times.
  6. ↑ Phalon, Richard (1964-12-15). "MERGER PLANNED BY GLORE, FORGAN; Concern Agrees to a Deal With Wm. Staats &. Co". The New York Times.