Securities brokerage firms: ranked by number of full-time, registered brokers in L.A. County.EXECUTIVE SUMMARY THERE are 4,511 licensed brokers currently working at the 25 largest securities brokerage BROKERAGE, contracts. The trade or occupation of a broker; the commissions paid to a broker for his services. firms in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County, up slightly from the previous year. Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. lost 26 brokers over the past year, but still had more working here than any other brokerage, with a total of 517. AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group Advisor Group was No. 2 on the list with 508 brokers, up 71 from the previous year. San Francisco-based Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. added six to bring its total to 474 brokers, which was third on the list. Several firms added significantly to their ranks. L.A.-based Wedbush Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. Securities moved up three spots to No. 10 by adding 38 brokers, giving it a total of 108 working in L.A. New York-based Jefferies Jefferies may refer to: People with the surname Jefferies:
In addition to brokerage services, many firms offer other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , such as investment banking. In all, the 25 largest firms employ 130 investment bankers Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. here and 62 research analysts. Overall, the 25 largest brokerage firms employ more than 6,500 people in L.A. County. THE PACESETTER SMITH BARNEY SMITH Barney, the brokerage unit of New York-based Citigroup Citigroup U.S. holding company formed in 1998 from the merger of Citicorp (itself a holding company incorporated in 1967) and Travelers Group, Inc. The $70 billion merger included one of the largest U.S. investment banks, Salomon Smith Barney Inc. Inc., remained the largest securities brokerage firm in L.A. County for the fourth consecutive year. Many of its 517 brokers focus on wealth management, a fee-based service that includes asset, risk, and liability management. "The creation of wealth in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, is extraordinary," said Jerrold Jerrold may refer to: People with the surname Jerrold:
n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. businesses." The past year was a good one for investors. The stock market rebounded to record levels after a shaky start, as oil prices declined from historic highs, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Eberhardt. He has a positive outlook for 2007. "Our firm expects equities to perform better than bonds or cash," Eberhardt said. Smith Barney projects that the Dow (Direct OverWrite) See magneto-optic disk. will close at around 14,000 while the S&P 500 will close above 1,600. Both would be records. "The market could be weak in the near term and we see an opportunity to take advantage of the buying opportunity. He added that he does not expect a significant hike in interest rates in 2007. Smith Barney moved its offices to downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or in 2000 and has consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: its operations into the CitiGroup Center. It now houses the divisional, Southern California and mid-regional headquarters. "We moved downtown Downtown (called a "city centre" in British English) is a term used in North America when referring to a city's core, usually both in a geographical and commercial / community sense. on purpose," Eberhardt said. "The city is continuing to increase investments and we are committed to the area."
SECURITIES BROKERAGE FIRMS
Ranked by numvber of full-time, registered brokers in L.A. County
Rank Brokerage (Ranking in 2006) L.A. County Employment
* name * securities brokers
* address * investment bankers
* total employees
1 Smith Barney (1) 517
444 S. Flower St., 26th Floor 0
Los Angeles 90071 850
2 AIG Advisor Group (5) 508
1 SunAmerica Center N/A
Los Angeles 90067 N/A
3 Wells Fargo (3) 474
333 S. Grand Ave. 5
Los Angeles 90071 699
4 Farmers Financial Solutions LLC (2) 468
30801 Agoura Road, Building 1 0
Agoura Hills 91301 471
5 Merrill Lynch (4) 449
350 S. Grand Ave., Suite 2700 15
Los Angeles 90071 768
6 Morgan Stanley (6) 421
1999 Avenue of the Stars, 24th Floor 0
Los Angeles 90067 691
7 UBS Financial Services Inc. (7) 375
725 S. Figueroa St., 41st Floor N/A
Los Angeles 90017 615
8 Transamerica Financial Advisors 218
Inc. (9) 0
1150 S. Olive St., Suite T-2501 51
Los Angeles 90015
9 Wachovia Securities LLC (8) 126
225 S. Lake Ave., Suite 700 0
Pasadena 91101 159
10 Wedbush Morgan Securities (13) 108
1000 Wilshire Blvd. 12
Los Angeles 90017 369
11 A.G. Edwards & Sons Inc. (12) 94
333 S. Hope St., Suite 3700 6
Los Angeles 90071 142
12 Jeff eries & Co. Inc. (16) 90
11100 Santa Monica Blvd. 40
Los Angeles 90025 263
13 Crowell Weedon & Co. (10) 86
1 Wilshire Blvd. * 4
Los Angeles 90017 134
14 Western International Securities 84
Inc. (11) 1
70 S. Lake Ave., Suite 700 102
Pasadena 90010
15 Bear Stearns & Co. Inc. (14) 73
1999 Avenue of the Stars, Suite 3200 20
Los Angeles 90067 260
16 Brookstreet Securities Corp. (22) 66
9401 Wilshire Blvd., Suite 705 0
Beverly Hills 90212 N/A
17 RBC Dain Rauscher (17) 60
9665 Wilshire Blvd., Fourth Floor 5
Beverly Hills 90212 113
18 Imperial Capital LLC (18) 60
150 S. Rodeo Drive, Suite 100 18
Beverly Hills 90212 87
19 Charles Schwab & Co. Inc. (15) 57
1900 Avenue of the Stars, Suite 101 0
Los Angeles 90067 83
20 Edward Jones (19) 52
870 Hampshire Road, Suite A 0
Westlake Village 91361 133
21 M.L. Stern & Co. LLC (20) 48
8350 Wilshire Blvd. 0
Beverly Hills 90211 99
22 City National Securities Inc. (21) 48
400 N. Roxbury Drive 0
Beverly Hills 90210 48
23 H & R Block Financial Advisors (23) 40
9300 Wilshire Blvd. 0
Beverly Hills 90212 60
24 Zahorik Financial Services Inc. 28
150 E. Colorado Blvd., Suite 100 0
Pasadena 91105 8
25 B. Riley & Co. 27
11100 Santa Monica Blvd., Suite 800 4
Los Angeles 90025 32
Rank Services Offered
(partial list)
1 wealth and financial planning, hedge funds, portfolio
management, estate planning, philanthropic services,
lending
2 mutual funds, no-load mutual funds, variable and fixed
annuities, stocks, bonds, insurance
3 retail brokerage, investment management, insurance,
wealth management, institutional brokerage, public
finance, banking and trust services
4 mutual funds, 529 college savings plans, retirement plans,
qualified tax saving investment plans, variable life
insurance
5 advice and planning, business banking, credit and lending,
estate planning, investments, retirement
6 investment, financial planning, cash management and
lending, including mortgages, small business, retirement,
insurance and private wealth management
7 brokerage, wealth management, retirement planning,
insurance, investments, lending services
8 financial planning, retirement planning, planning for
education expenses, estate planning, fee-based asset
management, securities brokerage
9 investment and retirement planning, access to lending and
other trust services, other financial services
10 brokerage, asset management, investment banking, private
capital, research, correspondent clearing, client banking,
prime brokerage
11 securities and commodities brokerage, investment
banking, trust, asset management, retirement planning
12 sales and trading, investment banking, security
underwriting, financial advisory, capitalraising, mergers
and acquisitions
13 personal financial planning, investment advisory services,
customized retirement strategies, tax-advantaged
investments, corporate finance, institutional trading
14 independent brokerage
15 private client services, investment banking, public finance,
institutional equity sales, fixed income sales, commercial
mortgage, prime brokerage/clearing
16 equities, options, fixed income, commodities, insurance,
private placements, corporate finance
17 full service securities firm
18 corporate finance, restructuring and advisory services,
sales and trading of high yield and distressed bonds,
convertible bonds, bank debt, equities
19 investment advisory services, personal financial planning,
active trader services, banking services, estate planning
20 stocks, bonds, mutual funds, CDs, financial services
21 bonds, stocks, mutual funds, annuities, insurance,
retirement plans, managed accounts
22 municipal securities broker/dealer, mutual funds, corporate
debt securities, equity securities, options
23 financial planning, estate planning, securities transactions
24 retirement plans, investment advisory, insurance,
employee benefits
25 investment banking, equity research, institutional trading
and market making
Rank Profile Top Local Executive
* parent company * name
* headquarters * title
* offices (county/total) * phone
1 CitiGroup Inc. Jerrold Eberhardt
New York sr. executive vice
18/635 president
(213) 244-1500
2 American International Group Inc. Jay Wintrob
New York ceo, president, AIG
N/A/N/A Retirement Services
(310) 772-6000
3 Wells Fargo & Co. Laura Schulte
San Francisco regional president
248/N/A (800) 869-3557
4 Farmers Insurance Group Don Mealer
Agoura Hills president
45/627 (866) 888-9739
5 Merrill Lynch & Co. Inc. Gregory J. Mech
New York division director, Western
16/717 division
(949) 223-6212
6 Morgan Stanley Margaret Black
New York managing director
14/600 (310) 788-2080
7 UBS AG James E. Layden
Zurich, Switzerland sr. v.p., Southern Pacific
8/N/A reg. manager
(213) 253-5458
8 The Aegon Group Sandra C. Brown
Los Angeles president, coo
1/1 (213) 741-7702
9 Wachovia Corp. Steve Townsend
Richmond, Va. market manager
6/2,685 (800) 627-8625
10 Wedbush Inc. Edward Wedbush
Los Angeles ceo, president
3/24 (213) 688-8000
11 A.G. Edwards Inc. Rod Essen
St. Louis managing director/regional
7/737 manager
(213) 613-2360
12 Jefferies Group Inc. Chris Kanoff
New York exec. v. p., dir. of
1/27 investment banking
(310) 445-1199
13 N/A Andrew E. Crowell
Los Angeles managing partner
6/11 (213) 620-1850
14 Concept Brokerage Holding Corp. Donald Bizub
Pasadena ceo
6/26 (888) 793-7717
15 N/A John R. Loftus/
New York Garrett Bland
1/19 sr. managing directors,
branch manager/
exec. director
(310) 201-2600
16 N/A Bambi Holzer
Irvine branch manager
34/336 (800) 268-2578
17 Royal Bank of Canada Chris Horner
Minneapolis (1) sr. managing dir., complex
6/150 dir.
(310) 205-7745
18 Imperial Capital Group LLC Jason Reese/
Beverly Hills Randall Wooster
1/4 co-presidents
(310) 246-3700
19 N/A Robert Kightlinger
San Francisco regional branch executive
12/273 (800) 435-4000
20 N/A Chris Hardt
St. Louis regional leader
51/9,735 (805) 496-6891
21 Pacific Life Insurance Co. Milford L. Stern
Beverly Hills ceo, president
1/8 (323) 658-4400
22 City National Bank Michael Nunnelee
Beverly Hills president
3/6 (310) 888-6400
23 H & R Block Robert Burakoff
Kansas City, Mo. regional director
2/400 (310) 273-8190
24 Zahorik Financial & Insurance Randy Russell
Services Inc. ceo, president
Pasadena (800) 266-0859
1/20
25 N/A Thomas Kelleher
Los Angeles ceo
1/4 (310) 966-1444
Note: The information on this list was provided by representatives of
the companies themselves. Brokerages are ranked by the number of
registered, full-time securities brokers and the number of employess in
L.A. County offices, respectively.
To the best of our knowledge, this information is accurate as of press
time. While every effort is made to ensure the accuracy and
thoroughness of the list, omissions and typographical errors sometimes
occur. Please send corrections or additions on company letterhead to
the Research Department, Los Angeles Business Journal, 5700 Wilshire
Blvd., Suite 170, Los Angeles 90036. [c] 2006 Los Angeles Business
Journal. This list may not be reprinted in whole or in part without
prior written permission from the editor. Reprints are available from
Wright's Reprints, (877) 652-5295.
(1) U.S. headquarters.
Researched by David Nusbaum
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