Who Was Paine Webber?

Paine Webber was an independent and large United States-based stock brokerage firm that boasted an impressive and nationally comprehensive 8,500 brokers located in 300 different offices throughout the United States. The firm catered successfully to wealthy clients and accredited investors. The company counted an important money management business as well. For years it was the subject of rumors regarding takeover possibilities. The CEO Mr. Marron fended these off and stubbornly clung to the firm’s rare brokerage operation independence until he finally received a takeover offer too good to refuse from Swiss Banking Giant UBS (Union Bank of Switzerland)… read more >