Legacy
In 1993, American Express sold its brokerage and asset management business—the Shearson and Hutton parts of Shearson Lehman Hutton—to Primerica. Primerica merged them with Smith Barney (which it had bought in 1987) to form Smith Barney Shearson, later shortened back to simply Smith Barney. As a result of several mergers over the rest of the decade, the remains of E.F. Hutton were part of Citigroup and what is today Morgan Stanley Smith Barney.
The following is an illustration of the company's mergers and its role in later successor firms (this is not a comprehensive list):
Shearson Lehman Hutton |
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Read more about this topic: E. F. Hutton & Co.
Famous quotes containing the word legacy:
“What is popularly called fame is nothing but an empty name and a legacy from paganism.”
—Desiderius Erasmus (c. 1466–1536)