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Encyclopedia Dubuque

www.encyclopediadubuque.org

"Encyclopedia Dubuque is the online authority for all things Dubuque, written by the people who know the city best.”
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Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.




A. G. EDWARDS AND SONS INC.

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A. G. EDWARDS AND SONS INC. The company was founded in 1887 when Albert Gallatin Edwards and his son opened for business in St. Louis. It was the first St. Louis brokerage to handle transactions on the New York Stock Exchange, buying a seat on the NYSE in 1898.

Because of increased capital needs for its branch system, A.G. Edwards was among the first brokerage firms to go public. On November 1971, 445,000 shares of stock were offered to the public at $12 per share.

As of March 29, 2007, the company had over 740 locations in 50 states, the District of Columbia, London, and Geneva. The company served its clients through its branch-office networks staffed with 6,618 financial consultants, managing $374 billion in total client assets, and $44 billion in fee-based accounts. During its fiscal year 2007, ending February 28th, A.G. Edwards had net revenues of $3,110,500,000 and net earnings of $331,400,000.

On May 31, 2007, the company announced that it would be acquired by Wachovia Corporation in a $6.8 billion deal. On September 28, 2007, the company's shareholders voted in favor of the acquisition by Wachovia. The acquisition closed on October 1, 2007, and A.G. Edwards became a wholly owned subsidiary of Wachovia Corporation.

The 1987 through 1993 Dubuque City Directory listed 190 Cycare Plaza.

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Source:

Wikipedia