in 1998, manages more than $1 trillion in clientassets and employs 49,000 people around the world. Company sells Blyth Eastman Dillon, Eastdils parent company, to Paine Webber. UBS, created from the merger of Union Bank of Switzerland andSwiss Bank Corp. was an American investment bank and stock brokerage firm. Together,they control about 30 percent of PaineWebber’s shares. William Alfred Paine top center vignette makes this a great find for the collector. andYasuda Mutual Life, have agreed to vote for the deal.
The firm admitted Charles Paine as a partner in 1881 and changed its name to PaineWebber & Company. The next year, Webber acquired a seat on the Boston Stock Exchange. Paine and Wallace Webber, formerly clerks at Boston's Blackstone National Bank, who set up shop on Congress Street in Boston. PaineWebber’s two largest shareholders, General Electric Co. Paine & Webber was founded in 1880 by William A. Other companies have gone private, or simply. Marron, chairman and chief executive of PaineWebber,had long resisted selling the company, but said in a statement today: “This is the right merger, with the right partner, atthe right time.” Many of these companies have changed names over this period, owing to mergers, acquisitions, and bankruptcies. The companies hope to complete the deal in November, pendingshareholder and regulatory approval.ĭonald B. The proposed deal extends the recent global consolidation that isreshaping the banking, insurance and securities industries. in a cash and stock deal valuing the U.S.broker at $10.8 billion. Z U R I C H, J- Ina move that would give Switzerland’s biggest bank access tomillions of wealthy American investors, UBS AG said it will buyPaineWebber Group Inc.
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