What, me worry?
North America's oldest and largest partner-owned and managed bank,
Brown Brothers Harriman has seven offices in the U.S. and seven
overseas, employing about 4,000 people. In addition to a full
range of commercial banking services, the firm provides global
custody, foreign exchange, private equity, mergers and acquisitions
services, investment management for individuals and institutions,
personal trust and estate administration, and securities
brokerage. It also operates a subsidiary, Brown Brothers
Harriman Investment Management LLC.
In July 2006, BBH converted its New York trust company into a
nationally chartered trust, Brown Brothers Harriman Trust Co., with
offices in New York, Boston, Chicago, Charlotte, and
The Brothers' history
Alexander Brown left his native Ireland for America in 1800,
arriving in Baltimore to establish an import/export business built
on his experience as an auctioneer in the Belfast linens
market. Ten years later, his four sons opened a merchant
banking firm in Liverpool; a branch office in Philadelphia followed
in 1818. In 1825, Brown Brothers & Co. opened an office
in New York City, and proceeded to expand their business into
shipping and banking. By 1857, Brown Brothers' banking
business had become the focus of the operation, and import/export
work was discontinued. In 1931, two businesses owned by
railroad tycoon E. H. Harriman merged with the Browns' company,
forming Brown Brothers Harriman (BBH).
In early 2008, Brown Brothers Harriman merged its investor services
and treasury and markets businesses. The new division, known
as investor services and markets, is led by William B. Tyree.
He replaced Douglas A "Digger" Donahue Jr., who became BBH's new
CEO as of January 1, 2008.
The divisional merger also saw some shuffling of staff.
Although senior management stayed in place, the company said in a
statement, each partner assumed additional responsibilities: Andrew
J.F. Tucker became head of the company's market-related activities;
Susan C. Livingston was named to oversee the asset manager and fund
client relationships and related services; Jeffrey R. Holland
became head of client relationships and related services for the
financial institution group; and Timothy J. Connelly was named head
of client technology solutions and subcustodian network
Ready for M&A
BBH's mergers and acquisitions practice is focused on growing
mid-market businesses, with special industry emphasis on health
care services, medical technology, telecommunications and media and
outsourced business services. The M&A group is part of
BBH's corporate finance department, which also includes the private
equity and mezzanine groups. BBH offers equity and mezzanine
capital for corporate growth via its 1818 Funds. The
corporate finance department serves private and closely held
companies, advising on middle-market mergers and acquisitions for
companies with values between $50 million and $500 million.
In April 2010, BBH ranked as the No. 1 Securities Lending provider
in the annual Global Custodian Securities Lending survey fpr the
second year in a row. The firm has also been named ranked as
the No. 1 global mutual fund administration provider by Global
Unlike some private banks that boast of their advisory groups'
independence, BBH believes its ability to be both advisor and
investor creates several unique advantages-the firm takes an
"owner-oriented" approach to examining strategies for