Alex. Brown & Sons Banking Legacy and Growth

Alex. Brown & Sons has a rich banking legacy that dates back to 1800 when it was founded by Alexander Brown. The company started as a small, family-owned business in Baltimore, Maryland.

The firm's early success was largely due to Alexander Brown's innovative approach to banking, which included offering a range of services to clients, including investment banking and securities trading. This approach helped the company grow rapidly.

By the mid-1800s, Alex. Brown & Sons had established itself as one of the leading investment banks in the United States. The company's expertise in securities trading and investment banking helped it expand its client base and increase its revenue.

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Alexander Brown, an Irish linen merchant, emigrated from Broughshane, near Ballymena, in Ulster to the United States in 1800 and settled in Baltimore, Maryland. He established the first investment banking firm in the U.S.

In 1808, Alexander Brown's company organized the first initial public offering in the U.S., that of the Baltimore Water Company. This was a significant milestone in the development of the American financial system.

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Alexander Brown was joined in business by his sons, William, George, John, and James, in 1810. The firm was named Alex. Brown and Sons, Inc. at this time.

By the 1820s, Alexander Brown had expanded his business interests into sterling exchange and international trade, including tobacco and cotton. This diversification helped the company grow and thrive.

The Brown sons started related businesses in various locations, beginning with William. William founded William Brown and Company in Liverpool, England, which later became Brown, Shipley & Co.

Here's a brief overview of the Brown family's business ventures:

George remained at the firm's Baltimore headquarters, where he took a leading role in the founding of the Baltimore and Ohio Railroad in 1827. This was a significant achievement for the company.

Alex. Brown & Sons has had a significant impact on the financial industry through its acquisition and growth.

The company was acquired by Bankers Trust in 1997 for between $1.7 billion and $2.5 billion in stock to form BT Alex. Brown.

Less than two years later, Deutsche Bank bought Bankers Trust, along with Alex. Brown & Sons, for more than $10 billion.

The Alex Brown name initially survived as Deutsche Banc Alex. Brown, the brokerage services division of Deutsche Bank Securities.

In 2016, Alex Brown Wealth Management was sold to Raymond James, marking a new chapter for the company.

As of March 2025, the average annual salary for a Private Client Advisor at Alex Brown & Sons is $78,009.

Salaries for Private Client Advisors at Alex Brown & Sons typically range from $66,258 to $88,888.

The average hourly wage for a Private Client Advisor at Alex Brown & Sons is approximately $38.

Salaries can vary significantly based on factors such as geographic location and departmental budget.

Years of experience, specific skill sets, educational background, and relevant certifications are key determinants of salary.

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