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
- ↑ "Perot's Orderly Retreat". Time Magazine. Wall Street. New York. 1974-02-04. Retrieved 5 August 2013.
- ↑ Lundin, Leigh (2013-06-16). "The Digital Detective, Wall Street part 1". Financial Fraud. New York: SleuthSayers.
- ↑ Lundin, Leigh (2013-06-23). "The Digital Detective, Wall Street part 2". Financial Fraud. New York: SleuthSayers.
- ↑ "Mr. Nice Guy Goes to Wall St.". Time Magazine. Investment. New York. 1971-05-03. Retrieved 5 August 2013.
- ↑ 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.
- ↑ Phalon, Richard (1964-12-15). "MERGER PLANNED BY GLORE, FORGAN; Concern Agrees to a Deal With Wm. Staats &. Co". The New York Times.