Brown Brothers Harriman & Co.

Abstract

Brown Brothers Harriman & Co. was founded as a private banking firm in 1818 specifically to finance international trade and to conduct related foreign exchange activities. Later in the 19th century the firm expanded into the investment business and became a member of the New York and other leading American stock exchanges. In the 1920s it was one of the first firms to establish a formal investment advisory business on a contractual basis, and in the 1950s this was expanded to include non-US securities. Brown Brothers Harriman & Co. is today the only remaining American private bank operating on a national and international basis, with 33 general partners functioning both as owners and day-to-day managers of the business. Investment activities dominate the firm’s revenues. While the size of assets under management enables the firm to support a large professional staff, the limited number of accounts ensures a high degree of personal attention to each customer.