At the time of its acquisition, Tucker Anthony was 14th largest brokerage firm in the U.S. with 990 account executives working from more than 80 offices across the country. The firm had a particular presence in the Northeast and Mid-Atlantic including New York, Massachusetts, Pennsylvania and Virginia as well as a strong presence in California.
Tucker Anthony historically held a history of 134 years in financial services, brokerage, and investment banking, having commenced operations in 1892. Its founders were William Austin Tucker, and S. Reed Anthony. In the later years of its history, it merged with the famous San Francisco based firm, Sutro & Company. At its peak, it historically held over $ 48 billion in client deposits and assets, and was the 14th largest brokerage firm in the USA. The successor entity was Royal Bank of Canada ( RBC) Dain Rauscher
DISCLAIMER
Craig J. Marshak has applied to the USA trademark office to register the Tucker Anthony Branding, to conduct financial services activities under this branding. The application is still pending. Mr. Marshak expressly disclaims any legal connection between the new Tucker Anthony, and the former predecessor firms, which were sold to RBC Dain Rauscher. Mr. Marshak provides financial advisory and investment banking advisory services. Mr. Marshak is not FNRA registered, and does not provide money management, or wealth management services which would require FNRA or RIA licensing. It is expected that in the future, as the new Tucker Anthony grows and develops, further permissions and licensing will be obtained in order to offer such further and additional services in the future.
Call to ask any question: 917-225-5578
Learn MoreThe firm was founded in 1892 as Tucker & Anthony Bankers by William Austin Tucker and S. Reed Anthony with offices at 50 State Street. Other early partners included Phillip L. Saltonstall, Nathan Anthony and Chauncey Eldridge.
In 1942, the firm merged with Burr, Gannett & Co., an old Boston-based firm. In 1956, Tucker Anthony merged with R.L. Day & Co.
In 1982, the firm was acquired by John Hancock Financial. During its ownership by John Hancock, the firm was operated as a division of John Hancock Freedom Securities Corporation, a holding company that also owned Sutro & Company, a San-Francisco investment management and brokerage firm founded in 1858.
In 1996, the management of the firm led a leveraged buyout of what was then known as Tucker Anthony Sutro from John Hancock with the support of the private equity firm Thomas H. Lee Partners. In 1998, Tucker Anthony completed a $120 million IPO, going public on the New York Stock Exchange.
In 2001, after operating as an independent firm for five years, the firm was acquired sold to the Royal Bank of Canada and merged with the Canadian bank's recently acquired subsidiary Dain Rauscher Wessels.
Tucker Anthony was the predecessor of TA Associates, the private equity firm which was established in 1968 and spun-out in 1978.
Sutro, based in San Francisco, and Tucker Anthony, based in Boston, were purchased from John Hancock Mutual Life Insurance Co. in 1996 by an investor group led by corporate buyout specialist Thomas H. Lee for about $180 million.
Several years later, the combined entity, which had a parent company called Freedom Securities, had an IPO on the NASDAQ market.
The IPO raised $80 million dollars and valued the combined firm at approximately $380 mm.
The company sold 4.2 million shares at 20, above the 17 to 19 range set by Donaldson, Lufkin & Jenrette Securities Corp., which led underwriters in the sale. The sale valued the company at about $382 million.
The two privately held firms, being SUTRO and TUCKER ANTHONY, were previously part of a holding company called Freedom Securities, which also previously owned a Boston asset management firm named Freedom Capital Management. Freedom Securities, with about 1,700 employees in its three units, was the entity that listed on the public markets.
Sutro was the oldest investment firm west of the Mississippi River. It underwrote San Francisco's first cable cars in 1873 and executed the first trade on the predecessor of the Pacific Exchange in 1882. In 1906, it sent out the telegraph message "Earthquake . . . City in flames . . . Send aid." In 1929, it developed the first electronic quotation board.
Sutro's path to Wall Street is a long and storied San Francisco tale, dating back to 1858, when German immigrant brothers Gustav and Charles Sutro founded the firm as a tobacco and gold-weighing company during the California Gold Rush. Gustav Sutro served as mayor of San Francisco. The company evolved into a full-service investment firm and is one of the original underwriters for The City's cable car service.
"This is the renaissance of a proud history, with Sutro emerging again as a powerful force in the brokerage business on the West Coast," Eisele said.
The new Tucker Anthony Today, disclaims any legal connection, or legal chain of ownership with past prior owners of the Firm, and or any of the prior investment firms connected with the Former Tucker Anthony. The new Tucker Anthony investment bank does not have any connection whatsoever with any firms previously associated with Tucker Anthony, including John Hancock Financial, who previously owned the Firm, Royal Bank of Canada who ultimately took buyout control, and or TA Associates, the Private Equity Firm which at one time was associated with Tucker Anthony.
The New Tucker Anthony, headed by Craig J. Marshak, operates in the same entrepreneurial spirit of the former firm and its days as a pioneer in emerging growth companies.
