Laidlaw Investment Banking - History - 160 Years of Change
The Webster-Ashburton Treaty established the United States-Canada border east of the Rocky Mountains. John J. Greenough received a patent for the sewing machine paving the way for a boom in New York’s furnishings and apparel industry. Anesthesia, in the form of ether, was successfully used in an operation for the first time by Dr. Crawford Long, and would soon to come into widespread use during America’s Civil War. The British Empire, following on the Treaty of Nanking ending the First Opium War, annexed Hong Kong, which would one day become gateway to the world’s largest population center.
The New York Curb Exchange, later to change its name to the American Stock Exchange, opened for business, trading in securities not qualified for listing on the New York Stock Exchange. And the original Laidlaw & Company was born. MilestonesLandmarks of Laidlaw & Company 1842 - Two young New Yorkers, Devid Heran and James Lees establish Heran & Lees, a commision merchant house in New York City. 1854 - Henry Bell Laidlaw enters the employ of the firm, now known as Hewitt Lees & Company. 1866 - The firm begins to assume the role of private banker.
Henry Bell Laidlaw becomes the partner of James Lees. 1873 - Henry Bell Laidlaw assumes leadership of the firm. Charles E Laidlaw joins his brother, Henry, and the firm changes its name to Laidlaw & Co. 1878 – Laidlaw & Co., becomes a member of the New York Stock Exchange(NYSE). Charles Laidlaw becomes a Governor of the Exchanges, serving the next 13 years. 1880 - The firm moves to a new location, 14 Wall Street, where it remains for the next 30 years. 1894 - James Lee Laidlaw, the eldest son of Henry Bell Laidlaw, becomes a partner of the firm. 1901 - The firm acquires a substantial stock brokerage “wire” business, which makes it the first NYSE member firm to establish securities branches in Toronto and Montreal. 1902 - Henry Bell Laidlaw dies.
Under his leadership, the firm expanded from a small private bank to an influential banking and brokerage concern. 1902 - Henry Bell Laidlaw dies. Under his leadership, the firm expanded from a small private bank to an influential banking and brokerage concern. 1942 - Laidlaw merges with Mackay & Co. By the end of World War II, Laidlaw & Co., is activity engaged in investment banking, asset management, and securities brokerage. 1961 - Hambros Bank Ltd., London’s largest merchant bank, becomes a limited partner in Laidlaw & Co. 1973 - Laidlaw acquires Coggeshall & Hick, Inc., and the name is changes to Laidlaw Coggeshall, Inc.
1976 - Gottried “Goli” von Meyern Hohenberg, a general partner at Adams & Peck, join Laidlaw as a Senior Vice-President. Two years later, Laidlaw acquires Adams & Peck, and the firms name is changes to Laidlaw, Adams & Peck. 1988 - Laidlaw Holdings, Inc., is incorporated in Delaware for the purpose of consolidating the Securities Brokerage, Investment Banking, International and Asset management Divisions. 1994 - Europe Continents Holding (ECH), an international trading firm based in Luxembrourg, purchases shares of Laidlaw Holdings, Inc. 1995 - A majority interest in Laidlaw Holdings, Inc. is purchased by Pacific USA Hodlings Corporation, and Larry D. Horner, the Chairman of Pacific USA Holdings Corporation, becomes the Chairman of Laidlaw Holdings, Inc. 1996 - Laidlaw acquires Howe & Rusling, Inc., an investment firm, founded in 1930.
1999 - Laidlaw Global Corp. launches an interest based company called Global Electronic Exchange. A new month later, Laidlaw acquires Westminister Securities, a NYSE member firm and Laidlaw Pacific (Asia). Ltd., a Hong Kong SFE member. In June of the same year, Laidlaw Holdings becomes a public company under the name Laidlaw Global Corporation. Anastasio Carayannis becomes President and spurs unprecedented growth of earnings. 2000 - Laidlaw Global Corp. launches Globeshare.