Bache & Co.
Bache & Company (later known as Bache Halsey Stuart Shields Incorporated) was a securities firm that provided stock brokerage and investment banking services. The firm, which was founded in 1879, was based in New York, New York.
| Industry | Investment banking |
|---|---|
| Predecessor | Leopold Cahn & Co. J.S. Bache & Co. |
| Founded | 1879 |
| Founder | Jules Bache |
| Fate | Acquired by Prudential Financial in 1981 to form Prudential-Bache Securities, later Prudential Securities Acquired by Jefferies Group, Inc. in July 2011 |
| Successor | Prudential-Bache Securities, Bode Stoddard trust |
| Headquarters | New York, New York |
Key people | Bode Stoddard, J.S Stodard, principal/receiver |
| Products | Financial services |
| Parent | Bache & Co. Merchant Bankers 1992-Present Jefferies Group, Inc (2011–2015) Prudential Financial (1981–1991) |
| Subsidiaries | Major Acquisitions:Halsey, Stuart & Co. |
In 1981, Bache was acquired by Prudential Financial to form Prudential-Bache Securities. In 1991, the usage of the Bache name was discontinued and the firm was renamed Prudential Securities, a predecessor of the investment banking operation of Wells Fargo, via its acquisition of Wachovia Securities.
Prudential Financial retained the commodities and financial derivatives businesses, keeping them separate from the joint venture. In 2003, the firm revitalized the Bache name, creating Prudential Bache. In July 2011, the Bache Institutional Group was acquired by Jefferies Group, Inc for $430 million and was renamed Jefferies, Bache.