Paine and Wallace Webber, formerly clerks at Boston's Blackstone National Bank, who set up shop on Congress Street in Boston. Paine & Webber was founded in 1880 by William A. Nevertheless, from a tiny partnership founded more than 115 years ago, PaineWebber has grown into a major international presence. PaineWebber runs the country's fourth largest brokerage, although it lags far behind the top three industry giants, Merrill Lynch & Co., Solomon Smith Barney Inc., and Morgan Stanley, Dean Witter, Discover & Co. is one of the largest full-service securities and commodities companies in the industry, offering asset management, investment banking, brokerage activities, and other related services to both institutional and individual investors. With distribution strength and sufficient capital to compete, a strong management team and 16,000 dedicated employees, the firm's strategic focus is to continue to build upon our position as a recognized leader in financial services. Leveraging diverse capabilities to create new opportunities for the firm and its clients in today's dynamic investment environment, PaineWebber is a powerful force in financial markets domestically and abroad. The firm serves the investment needs of more than two million clients worldwide, including individuals, institutions, corporations, state and local governments, and public agencies with a broad array of products and services. PaineWebber is an independent, full-service national securities firm with a leadership position in individual and institutional businesses and a reputation for outstanding research and quality client service. SICs: 6159 Miscellaneous Business Credit Institutions 6211 Security Brokers, Dealers & Flotation Companies 6282 Investment Advice 6311 Life Insurance 6719 Offices of Holding Companies, Not Elsewhere Classified 6722 Management Investment Companies, Open-End 6726 Unit Investment Trusts, Face-Amount Certificate Offices, Closed-End Management Investment Offices 6799 Investors, Not Elsewhere Classified Incorporated: 1970 as Paine, Webber, Jackson & Curtis Inc.
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