dominick and dickerman


  • In the late 1950s Dominick & Dominick was also part of a banking syndicate that managed the initial public offering (IPO) of stock issued by Arvida Corporation, which was
    formed in Florida in 1958 to sell the real estate holdings of Arthur Vining Davis.

  • Company type: Private; Industry: Financial services; Founded: New York City, New York, U.S. (June 15, 1870); Headquarters: New York City History Founding[edit] The company
    was founded on June 15, 1870 as Dominick & Dickerman by William Gayer Dominick and Watson Bradley Dickerman.

  • [11] Over the next 20 years, Dominick & Dominick reduced its work force and closed offices in an attempt to focus on more profitable financial services such as research.

  • [6][7] In 1970 Dominick & Dominick pursued a merger with Clark, Dodge & Co., Inc., a similar size firm, but called it off, electing instead to continue a program of opening
    new offices and pursuing the acquisition of smaller firms.

  • It also sold a significant stake in the business for $7.25 million to an investment group led by Pierce National Life Insurance Company (now Liberty Corporation), which was
    in turn controlled by Joe L. Allbritton, founder of Allbritton Communications Company.

  • The 1960s also saw the firm spread its operation across the country, acquiring the investment bank of Buffalo based Schoellkopf, Hutton & Pomeroy,[6] and taking advantage
    of a bull market to build up a domestic retail brokerage business.

  • It next picked up several partners from Iselin & Co., as well as Iselin Securities Corporation, which brought with it an office in Paris, and the Iselin Corporation of Canada
    with its office in Montreal.

  • In October 2003 the firm brought in a new president and CEO, hiring 58-year-old Michael J. Campbell, a former Marine who had 30 years of experience in the industry, including
    a 25-year tenure with Donaldson, Lufkin & Jenrette (DLJ) and a stint with Credit Suisse First Boston.

  • Dominick & Dominick gained a major presence in New England in 1966 by acquiring the firm of Townsend, Dabney, Tyson.

  • This plan was also eventually terminated, however, as the stock market began to experience one of the worst bear markets in a generation, and Dominick & Dominick found that
    it had stretched itself far too thin.

  • Dominick & Dominick’s first branch office to open under Campbell’s management was in Miami in the fall of 2004.

  • [2] Dominick & Dickerman opened its first branch in 1889 in Cincinnati, where the firm was one of only two exchange members.

  • The firm’s chairman and chief executive, Peter M. Kennedy, explained to the New York Times that “a national retail structure is not right for a firm of our size.

  • A year later, Dickerman left the firm when he was elected president of the New York Stock Exchange.

  • [9] While the infusion of capital was welcome, Dominick & Dominick still found itself in a difficult position and sold its domestic retail brokerage business and the bulk
    of its branch offices.

  • He then left the family firm in 1938 to enter public service, working for the Office of Price Administration in the Roosevelt administration.

  • Not only did the firm pick up a large Boston office but another 15 offices throughout the Northeast.

  • In 1935 he was elected a governor of the New York Stock Exchange and helped to hire the first paid president of the Exchange, at the behest of the new Securities and Exchange
    Commission (SEC).

  • The firm also became involved in the fixed income area, making corporate and municipal bonds, Eurobonds, and Treasury Notes available to its clients, and launched managed
    futures programs to participate in the global currency markets.

  • Other European offices were subsequently opened, and Dominick & Dominick soon had a presence in all of the major cities in Europe.

  • Some of the firm’s most notable transactions during the postwar years involved Yonkers, New York-based Alexander Smith Carpet Company and Canada’s Great Plains Oil.


Works Cited

[‘1. ^ The New York Times Obituary. “William Gary Dominick” The New York Times 1 September 1985: n. pag. Print
2. ^ “ANNIVERSARY CELEBRATED.; Dominick & Dominick, Brokers, Observe Fiftieth Year in Business”. The New York Times. 15 June 1920. Retrieved
15 October 2021.
3. ^ SEC “SEC NEWS DIGEST” SEC Docket, Vol 6, No. 8 3 October 1974
4. ^ “ISELIN FIRM TO END, JOINING DOMINICKS; One of Oldest of Wall Street Houses to Lose Identity by Merger on July
22. SOME OF FORCE TO SHIFT Dominick & Dominick Will Take Over Also Iselin Securities Corporation”. The New York Times. 17 June 1936. Retrieved 15 October 2021.
5. ^ Times, Special to The New York (19 August 1961). “GAYER DOMINICK, BROKER, 74, DIES;
Ex-Partner in Firm Here — Led Stock Exchange in ’35”. The New York Times. Retrieved 15 October 2021.
6. ^ Jump up to:a b “Schoellkopf, Hutton & Pomeroy To Merge With Dominick Firm”. The New York Times. 19 February 1960. Retrieved 14 October 2021.
7. ^
“DOMINICK PLANNING TO ACQUIRE DITTMAR”. The New York Times. 24 December 1970. Retrieved 15 October 2021.
8. ^ Vartan, Vartanig G. “Dominick to Quit Retail Brokerage.” The New York Times 31 July 1973: n. pag. Print
9. ^ Vartan, Vartanig G. “Served
Carriage Trade” February 28, 1973 The New York Times, Page 58 Column 8. Print.
10. ^ Allan, John H. (22 February 1973). “Two Wail St. Firms Undergo Changes”. The New York Times. Retrieved 15 October 2021.
11. ^ Vartan, Vartanig G. (31 July 1973).
“DOMINICK TO QUIT RETAIL BROKERAGE”. The New York Times. Retrieved 15 October 2021.
12. ^ “DOMINICK BRANCHES SOLD TO OTHER FIRMS”. The New York Times. 8 August 1973. Retrieved 15 October 2021.
13. ^ Jump up to:a b “Business Wire. DLJ’s Michael
J. Campbell Joins Dominick & Dominick as CEO; Assembles New Senior Management Staff”. CBSi. 2003. Retrieved 15 October 2021.
14. ^ On Wall Street. Michael Campbell The President and CEO of Dominick & Dominick “Michael Campbell
– on Wall Street”. Archived from the original on 2011-10-02. Retrieved 2011-05-26. Pat Olson July 1, 2010
15. ^ “Stanford Financial Receivership | Home”. Retrieved 15 October 2021.
• Allan, John
H. “Two Wall Street Firms Undergo Changes.” The New York Times 22 Feb. 1973: n. pag. Print.
• New York Times. “Anniversary Celebrated: Dominick & Dominick, Brokers, Oberve Fiftieth Year in Business.” The New York Times 15 June 1920: n. pag. Print
• Staff.
“Dominick Branches Sold to Other Firms.” The New York Times 8 Aug. 1973: n. pag. Print.
• Staff. “Iselin Firm to End, Joining Dominicks.” The New YOrk Times 17 June 1973: n. pag. Print.
• Vartan, Vartanig G. “Dominick to Quit Retail Brokerage.”
The New York Times 31 July 1973: n. pag. Print
• Dominick & Dominick LLC Homepage. “About US.” Dominick & Dominick LLC. N.p., n.d. Web. 27 Apr. 2011.
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