The end of an era and a bit of history…
In 1938, with the merger of two brokerage firms founded by Philadelphians, Charles D. Barney and Edward B. Smith, the modern day Smith Barney was born. Thus began their long history of acquisitions.
Smith Barney snatched up Harris, Upham & Co. in 1975 to become Smith Barney, Harris Upham & Co., according to Funding Universe.
It was later sold to Primerica Corp. in 1987 which was acquired by the firm run by Sanford “Sandy” Weill, who later merged Smith Barney’s parent (which was Travelers) with Citicorp.
The resulting firm, Citigroup, proved to be the final stop for the Smith Barney name.
As of September 25, 2012, Smith Barney joins the ranks of other firm names that have gone by the wayside: Paine Webber, E.F. Hutton, Salomon Brothers and so many others.
Like financial advisors, firms come and they go.