380:
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in the first quarter of 2007, primarily due to bets on the sub-prime mortgage industry in the United States. The assets under management were transferred into UBS's main asset management business. The division had raised $ 1.2 billion in assets under management.
27:
228:
for $ 157.5 million, which was initiated when the
Bechtel family cashed out its 30% holding in February, forcing the partnership to sell to Travelers to increase their pool of capital which had been depleted by $ 25 million.
1096:
1111:
141:
Dillon Read traces its roots to 1832 with the founding of the Wall Street brokerage firm
Carpenter & Vermilye by Col. Washington Romeyn Vermilye, George Carpenter, and
582:
161:. The firm underwrote bonds issued by New York City and underwrote stocks and bonds of railroads and other companies. In 1921, the firm managed the rescue of faltering
477:
751:
435:
622:
277:
On May 3, 2007, UBS announced the closure of Dillon Read
Capital Management. After profits of $ 1.2 billion in 2006, the division lost 150 million
1121:
1116:
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232:
The corporate office was located at 535 Madison Ave in New York City. The downtown office was located at 120 Wall street in New York City.
157:
In 1905, it was renamed after its principal partner, William A. Read. In 1921, it was renamed as Dillon, Read & Co. to include partner
1101:
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419:
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In 1991, the company was sold to
Barings for $ 122 million. Barings went bankrupt and in 1995, management bought back the firm.
540:
210:
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289:, Myret Zaki asserted that had UBS listened to Dillon Read Management, UBS could have limited its losses from the
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In 1998, it became part of UBS when Swiss Bank
Corporation merged with Union Bank of Switzerland to become UBS.
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served as chairman from 1970 to 1982, before serving as a United States
Senator from New Jersey and as
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436:"BANKING FIRM CHANGES.; William A. Read & Co. Dissolves and Dillon, Read & Co. is Formed"
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in 1928. In the 1930, it underwrote foreign bonds and arranged financing for the
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In 1997, the company was sold to Swiss Bank
Corporation in 1997 and merged with
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The Dillon Read name was dropped by 2000. In June 2005, UBS established
199:
and as U.S. Undersecretary of State and U.S. Ambassador to France under
626:
195:
of the company before serving as U.S. Secretary of the
Treasury under
329:
The Last
Partnerships: Inside the Great Wall Street Money Dynasties
679:
706:
125:
97:
1097:
Defunct financial services companies of the United States
675:
224:
In July 1986, the company was sold by its 35 partners to
177:. In 1937, it underwrote the bonds used to finance the
457:"C. Douglas Dillon Dies at 93; Was in Kennedy Cabinet"
623:"UBS blames Dillon Read closure on costs, not losses"
562:"Swiss Bank Steps Up to Buy Dillon, Read on Rebound"
1048:
948:
871:
851:
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760:
722:
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642:"UBS Closing Hedge Fund; Losses Cited on Mortgages"
93:
78:
55:
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33:
354:The WetFeet.com Insider Guide: Warburg Dillon Read
326:
604:"UBS shuts hedge fund after big sub-prime losses"
407:The Encyclopedia of New York City: Second Edition
621:Hamilton, Dane; Giannone, Joseph (May 3, 2007).
663:"UBS could have curbed losses to $ 500 million"
691:
8:
1112:Former investment banks of the United States
19:
541:"Barings Successor Sells Back Dillon Stake"
719:
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684:
676:
293:to $ 500 million instead of $ 40 billion.
25:
18:
583:"SWISS BANKING GIANTS SBC, UBS TO MERGE"
310:. New York: Truman Talley Books/Dutton.
392:
165:. In 1925, it engineered the buyout of
16:Former investment bank in New York City
518:EICHENWALD, KURT (November 13, 1991).
400:
398:
396:
7:
187:, the son of Dillon Read co-founder
661:Bradley, Simon (October 30, 2008).
581:Swardson, Anne (December 9, 1997).
145:. The firm was notable for selling
520:"Travelers Is Selling Dillon Firm"
497:STERNGOLD, JAMES (July 16, 1986).
356:. San Francisco, CA: WetFeet.com.
163:Goodyear Tire & Rubber Company
14:
539:STROM, STEPHANIE (May 31, 1995).
308:The Life and Times of Dillon Read
247:, to become Warburg Dillon Read.
120:and, in 1997, it was acquired by
640:WERDIGIER, JULIA (May 4, 2007).
478:"THE CASUAL FORCE OF NICK BRADY"
378:
124:, which was in turn acquired by
828:Blyth, Eastman Dillon & Co.
770:Basler & Zürcher Bankverein
499:"TRAVELERS BUYING DILLON, READ"
476:Romano, Lois (April 25, 1989).
455:PACE, ERIC (January 12, 2003).
169:and the sale of the company to
560:TRUELL, PETER (May 16, 1997).
287:UBS: les dessous d'un scandale
260:Dillon Read Capital Management
254:Dillon Read Capital Management
211:U.S. Secretary of the Treasury
116:. In 1991, it was acquired by
1:
1122:1997 mergers and acquisitions
1117:1991 mergers and acquisitions
1066:Wellington Management Company
833:Kidder, Peabody & Company
602:Clark, Andrew (May 3, 2007).
1107:Banks disestablished in 1997
61:; 192 years ago
149:during the U.S. Civil War.
143:William Montgomery Vermilye
1138:
325:Geisst, Charles R (2001).
1102:Banks established in 1924
1056:MFS Investment Management
800:O'Connor & Associates
724:Union Bank of Switzerland
24:
291:subprime mortgage crisis
137:Carpenter & Vermilye
245:S. G. Warburg & Co.
226:The Travelers Companies
72:New York City, New York
790:Dillon, Read & Co.
762:Swiss Bank Corporation
236:Barings and Swiss Bank
153:Dillon, Read & Co.
122:Swiss Bank Corporation
106:Dillon, Read & Co.
20:Dillon, Read & Co.
412:Yale University Press
1049:Largest shareholders
823:Jackson & Curtis
414:. December 1, 2010.
352:WetFeet.com (2001).
920:Alex Wilmot-Sitwell
785:SG Warburg & Co
780:Warburg Dillon Read
747:Phillips & Drew
588:The Washington Post
483:The Washington Post
444:. January 14, 1921.
268:UBS Investment Bank
21:
935:William G. Parrett
895:Markus U. Diethelm
859:McDonald & Co.
818:Paine & Webber
775:Basler Handelsbank
732:Bank in Winterthur
647:The New York Times
567:The New York Times
546:The New York Times
525:The New York Times
504:The New York Times
462:The New York Times
441:The New York Times
285:In her 2008 book,
175:petroleum industry
50:Investment banking
1079:
1078:
867:
866:
838:Mitchell Hutchins
737:Toggenburger Bank
266:), led by former
219:George H. W. Bush
207:Nicholas F. Brady
201:Dwight Eisenhower
185:C. Douglas Dillon
179:Triborough Bridge
103:
102:
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995:Jerker Johansson
843:Union Securities
795:Brinson Partners
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1020:Olivier Sarkozy
990:Marten Hoekstra
960:Gary P. Brinson
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852:Other companies
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297:Further reading
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197:John F. Kennedy
189:Clarence Dillon
159:Clarence Dillon
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110:investment bank
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272:John P. Costas
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980:Oswald Grübel
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953:and directors
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925:Robert McCann
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910:Ulrich Körner
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883:Colm Kelleher
881:
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876:and directors
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313:
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304:Sobel, Robert
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215:Ronald Reagan
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1040:Jürg Zeltner
1010:Marcel Ospel
985:Ralph Hamers
975:Blair Effron
930:Chi-Won Yoon
810:Paine Webber
789:
716:predecessors
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608:The Guardian
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386:Banks portal
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333:. New York:
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279:Swiss Francs
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191:, served as
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118:Barings Bank
105:
104:
1071:Wealthfront
1061:Norges Bank
1035:Robert Wolf
1000:Peter Kurer
965:John Costas
915:Tom Naratil
742:Interhandel
335:McGraw-Hill
41:Dillon Read
1086:Categories
1005:Ken Moelis
970:John Cryan
951:executives
940:Phil Gramm
885:(Chairman)
874:executives
714:Historical
372:References
36:Trade name
667:Swissinfo
147:war bonds
128:in 1998.
112:based in
94:Successor
306:(1991).
193:chairman
171:Chrysler
46:Industry
872:Current
627:Reuters
132:History
108:was an
84: (
79:Defunct
64: (
56:Founded
949:Former
707:UBS AG
418:
360:
341:
314:
213:under
74:, U.S.
891:(CEO)
270:head
416:ISBN
358:ISBN
339:ISBN
312:ISBN
264:DRCM
217:and
86:1997
82:1997
66:1832
59:1832
1092:UBS
752:SMH
126:UBS
98:UBS
1088::
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262:(
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
