250:. Between April 1987 and February 1988, UBS was required to spend as much as £115 million to shore up Phillips & Drew. Phillips & Drew unit returned to profitability in 1992 after years of losses. Due to its performance issues, the Phillips & Drew name was discontinued by 1992 and the business was renamed UBS Limited. However, the Phillips & Drew name was retained in the asset management business that became known as Phillips & Drew Fund Management.
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UBS merged their UBS Securities arm with P&D and transferred operations from the stock exchange building, and 100 Moorgate to new premises in the
Broadgate development. UBS initially had issues integrating Phillips & Drew, which it had renamed UBS Phillips & Drew (UBS P&D). The firm
201:
The firm remained relatively small with business dependent upon individual clients until the arrival of Sidney Perry, who joined the firm as a partner in 1936. Perry, would rise to the leadership of the firm over the next decade and by the beginning of the 1950s, he was running
Phillips & Drew.
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In 1905, the firm assumed the
Phillips & Drew name with the arrival of Geoffrey Harvey Drew, Dick's brother, as a new partner and the retirement of Phillips (though he rejoined the firm in 1907). Until the late 1940s, the Drew family continued to hold a controlling position within the firm.
210:, a type of British government bond, for institutions. Perry also instituted a merit-based hiring and promotion system, moving away from hiring on the basis of family or personal connections. The firm grew to over 350 employees by the end of the 1960s.
233:
acquired a 29.9% minority interest in
Phillips & Drew and two years later announced an acquisition of the firm. At the time of the acquisition, Phillips & Drew, with 60 partners and 593 staff, was the leading dealer of
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lost £15 million when a rush of orders overwhelmed the firm’s settlement system in 1987. Then the bank lost £48 million as a result of
Philips & Drew positions in the
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181:. After several unsuccessful partnerships, Phillips formed a partnership with his chief clerk, Harvey Richard ('Dick') Drew, to form
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UBS Banks on
Conservative Strategies --- Industry Leader Avoids Troubles That Have Snared Main Swiss Rivals.
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Under Perry's leadership, the firm shifted its focus from retail brokerage business toward
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and other fixed income securities in the U.K. The firm was also a leading asset manager.
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Also, under Perry, the firm began to establish a reputation as a leading source of
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206:. The firm began to derive most of its income in dealing in
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Defunct financial services companies of the United
Kingdom
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In 1885, George Allen
Phillips became a member of the
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760:Financial services companies established in 1895
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309:. Funding Universe, Retrieved August 10, 2010
185:in 1895. The name of the firm was changed to
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755:Financial services companies based in London
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16:British stockbroking partnership and company
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780:British companies disestablished in 1992
221:Acquisition by Union Bank of Switzerland
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156:in 1986, which itself merged with the
785:British companies established in 1895
144:partnership and company based in the
7:
89:Phillips & Drew Fund Management
48:G.A. Phillips & Co. (1895–1905)
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770:1992 disestablishments in England
750:Defunct companies based in London
481:Blyth, Eastman Dillon & Co.
423:Basler & Zürcher Bankverein
248:October 1987 stock market crash
152:. It was fully acquired by the
765:1895 establishments in England
1:
719:Wellington Management Company
486:Kidder, Peabody & Company
92:UBS Global Asset Management
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280:"UBS 150 Years of Banking"
173:Founding and early history
709:MFS Investment Management
453:O'Connor & Associates
377:Union Bank of Switzerland
260:Union Bank of Switzerland
229:, predecessor of today's
227:Union Bank of Switzerland
217:and investment analysis.
154:Union Bank of Switzerland
74:Union Bank of Switzerland
320:The Wall Street Journal
204:institutional investors
183:G.A. Phillips & Co.
87:UBS Phillips & Drew
443:Dillon, Read & Co.
415:Swiss Bank Corporation
158:Swiss Bank Corporation
78:Swiss Bank Corporation
179:London Stock Exchange
702:Largest shareholders
476:Jackson & Curtis
76:, later merged with
573:Alex Wilmot-Sitwell
438:SG Warburg & Co
433:Warburg Dillon Read
400:Phillips & Drew
187:Phillips & Drew
160:in 1998, to become
138:Phillips & Drew
127:Number of employees
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22:Phillips & Drew
588:William G. Parrett
548:Markus U. Diethelm
512:McDonald & Co.
471:Paine & Webber
428:Basler Handelsbank
385:Bank in Winterthur
225:In November 1984,
39:Financial services
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520:
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491:Mitchell Hutchins
390:Toggenburger Bank
240:convertible bonds
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648:Jerker Johansson
496:Union Securities
448:Brinson Partners
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678:Kaspar Villiger
673:Olivier Sarkozy
643:Marten Hoekstra
613:Gary P. Brinson
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505:Other companies
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215:equity research
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120:Equity research
112:Stock brokerage
102:London, England
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322:, June 1, 1993
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633:Oswald Grübel
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606:and directors
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536:Colm Kelleher
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529:and directors
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238:(as a GEMM),
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693:Jürg Zeltner
663:Marcel Ospel
638:Ralph Hamers
628:Blair Effron
583:Chi-Won Yoon
463:Paine Webber
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369:predecessors
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287:. Retrieved
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142:stockbroking
140:was a large
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116:Mutual funds
98:Headquarters
72:Acquired by
27:Company type
18:
724:Wealthfront
714:Norges Bank
688:Robert Wolf
653:Peter Kurer
618:John Costas
568:Tom Naratil
395:Interhandel
45:Predecessor
739:Categories
658:Ken Moelis
623:John Cryan
604:executives
593:Phil Gramm
538:(Chairman)
527:executives
367:Historical
266:References
131:593 (1986)
197:1936–1984
189:in 1905.
84:Successor
289:5 August
254:See also
108:Products
35:Industry
30:Acquired
525:Current
168:History
150:England
61:Defunct
53:Founded
602:Former
360:UBS AG
307:UBS AG
162:UBS AG
544:(CEO)
285:. UBS
283:(PDF)
236:gilts
208:gilts
291:2013
69:Fate
64:1986
56:1895
775:UBS
405:SMH
231:UBS
741::
299:^
164:.
148:,
118:,
114:,
352:e
345:t
338:v
293:.
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