NEW YORK, NEW YORK – Salomon Brothers today announced a reemergence, a return to the global financial marketplace, opening its doors for business from day one as a full-service investment bank. Today, Salomon Brothers is modern, inclusive, and innovative. What remains is the core principles of client-focused dedication and an unrivaled commitment to excellence that earned the original Salomon Brothers its historical standing as one of the premier investment banks of the world.
The modern Salomon Brothers is extending the 110-year legacy of a brand that occupied the top tier of league tables for decades: a force in trading and investment banking. The first step is to help the state that Salomon Brothers called home since the start. Dedicated banking and capital markets teams are already in place, providing capital financing and other client services, such as sell-side and buy-side mergers and acquisitions, effective immediately. Further, the firm will power financings for New York State businesses harmed by the Covid-19 pandemic – the firm estimates that $23 billion of equity was depleted from New York companies in 2020 and 2021.
“We came back to gather some of the best bankers in the world; and solve big problems,” says R. Adam Smith, a Salomon Brothers investment banking alumnus and leader of the re-emergent firm. “One of our unique goals is to be the go-to for New York businesses to access the capital markets, and return them back on the path to become thriving enterprises once again. By doing so, Salomon Brothers can be a catalyst for reinvigorating our communities and the very lives of the people behind their companies.”
The modern Salomon Brothers is creating an opportunity for New York business owners and executives seeking equity capital of anywhere between $3 million to $300 million. The firm is in advanced talks with several New York-based companies raising capital to recapitalize or grow.
A core pillar of Salomon Brothers’ mission today is to – serve small- and mid-sized private companies in the firm’s direct community, New York. Thiscontinues the original firm’s reputation for solving big problems, but also indicates a new aspect of its culture that seeks to expand economic opportunity and prosperity to the wider community. The very principles that have always made Salomon Brothers the first choice among CEOs and CFOs remain at the center of its mission today. A new Salomon Brothers slogan – “Focused on Results” – is a nod to that heritage.
Supported by dozens of senior professionals with decades of investment experience, the firm is led by a highly seasoned financial executive, R. Adam Smith. Smith said, “Our alumni are diverse, global, and highly talented – a collection of genius.” The Salomon Brothers alumni diaspora is estimated to exceed 7,000 living alumni – alumni are energized by the modern Salomon Brothers, and getting involved in various capacities inside of, advising, and as potential clients of, the firm.
Salomon Brothers is advised by an expert board of nearly a dozen alumni of the original firm with over 75 years collective experience at the firm. They include:
• Tom King, previously head of investment banking
• Alan J. Ginsberg, previously a senior banker in financial institutions
• Javier Ortiz, previously in investment banking
• Peter M. Schulte, previously a senior investment banker
The modern firm is hitting the ground running with multiple initiatives:
• Banking. The firm is focused initially on technology, consumer, business services, financials and healthcare. It has been engaged as financial advisor to a new social networking company that is disrupting social networking.
• Trading. The firm sponsored the development of State Stox, an innovative fintech trading platform announced in Fall 2021 and is planning its first trading day in March 2022. State Stox provides the only secondary market that is dedicated to New York State. The firm holds a meaningful ownership interest in the platform.
• Investor Conference. The firm will hold an investor conference in the second quarter that highlights New York companies with a goal of helping companies [recover from the pandemic]. Over fifty companies, and hundreds of investors, are expected to attend. Details will be released as the event approaches.
Salomon Brothers plans to hire hundreds of bankers and related experts in its comprehensive banking platform. But Salomon Brothers does not intend to grow to the 15,000+ employees it once had. Technology allows the firm to serve clients effectively with a fraction of the staff. The firm also plans to organize industry practice groups in [a form of] partnership of boutique practices under the Salomon Brothers brand. The firm is talking to numerous owners of existing boutiques as well as many bankers who are planning to form a boutique or desire to do so at Salomon Brothers.
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About Salomon Brothers
The modern Salomon Brothers is a full-service investment bank helping New York companies recover from the pandemic. Salomon Brothers is a legendary name in the global investment banking industry. The firm continues a legacy of financial innovation and client service that began in 1910. The firm is independent – not affiliated with any commercial bank. Salomon Brothers offers securities through Salomon Brothers Securities, the firm’s New York registered broker-dealer affiliate.
For more information see www.salomonbrothers.net.