Salomon Brothers

Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York. It was one of the five largest investment banking enterprises in the United States[2] and the most profitable firm on Wall Street during the 1980s and 1990s. Its CEO and chairman at that time, John Gutfreund, was nicknamed "the King of Wall Street".[3][4][5][6]

Salomon Brothers, Inc.
IndustryFinancial services
FounderArthur Salomon,
Herbert Salomon,
Percy Salomon
Defunct2003 (name dropped by Citigroup)
FateAcquired by Travelers Group in 1997
SuccessorSalomon Smith Barney (1997–2004), Smith Barney (2003–2009)
Headquarters250 Greenwich Street
New York, NY 10006
Key people
John Gutfreund
(Chairman 1978–1991)
Warren Buffett
(Chairman 1991–1997)
Deryck Maughan
(CEO 1992–1997)
ProductsSales and trading, Investment banking
RevenueIncrease US$9.046 billion (1996)[1]
Increase US$617 million (1996)[1]
Total assetsIncrease US$194.881 billion (1996)[1]
Number of employees
Increase 7,100 (1996)[1]

Salomon Brothers served many of the largest corporations in America. At one time, it was the leading underwriter of corporate bonds and the largest dealer of Treasury Securities in the United States. It was also one of the top firms in futures and options (known as "derivatives") and in securitization in a range of asset classes including commercial real estate securities.[7]

The bank was famed for its "cutthroat corporate culture that rewarded risk-taking with massive bonuses, punishing poor results with a swift boot."[8] In Michael Lewis' 1989 book Liar's Poker, the insider descriptions of life at Salomon gave way to the popular view of banking in the 1980s and '90s as a money-focused and work-intense environment.[9]

In February 2022, it was announced that the Salomon Brothers brand will be revived by a group of former employees and execs and operate as full-service investment bank again.[10][11]

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