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
[edit]- ^ "Perot's Orderly Retreat". Time. Wall Street. New York. 1974-02-04. Archived from the original on July 10, 2008. 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. Investment. New York. 1971-05-03. Archived from the original on August 5, 2013. 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.
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