Bache & Co. is one of the best stock brokerage firms in the United States. It was incorporated in the year 1879 in New York City, New York. At the time of its inception, the firm was known as Leopold Cahn & Co.
Bache & Co. started its operations in the form of a stock brokerage firm and investment bank.
At present, Stephen K. Bache, CFA, who is a distant relative of the actual managing partners of the firm regulates a boutique investment management company in Pasadena in the state of California. The firm was established in the year 2000 and the name of the firm is Bache Capital Management.
In the year 1892, Bache & Co. was regrouped as J.S. Bache & Co. The initiative was taken by Jules S. Bache, who was the nephew of Leopold Cahn, as well as an employee of the firm. With a successful stint of more than 50 years, he progressed the company as one of the best performing stock brokerage firms in the United States.
In the year 1890, an expansion took place in the operations of the company. A second office was opened in the city of New York and a branch office was opened in Albany. It is regarded as the first branch office set up by a brokerage house, which had a direct wire connection with its headquarters.
In the early years, the reputed clients of J.S. Bache & Co. included the following famous personalities:
- Edward H. Harriman
- John D. Rockefeller, Sr.
- Jay Gould
In the earlier part of the twentieth century, the brokerage firm was able to achieve the position of a market leader in the field of commodity trading.
In the decade of 1920s, the brokerage firm played an important role in the funding of mining industries, automobile industries, and railroads. It achieved the top rank among the shareholders of the Great Western Railway, Chicago and it was also the regulator of the Ann Arbor Railroad. Bache & Co. played a significant role in the incorporation and early development of Chrysler Corporation.
Bache & Co is also known for the introduction of the first employee profit-sharing plan in the history of Wall Street.
After the demise of Jules S. Bache in the year 1944, Harold L. Bache, who was his nephew became the head of the organization and the name of the company was changed to Bache & Company.
Bache & Co. was the first financial institution to go for investing in Japan after the Second World War. One of the most important initiatives taken was the establishment of Japan Fund (a Japanese mutual fund). In the decade of 1950s, the company took a patronizing role in expanding the U.S. stock brokerage functions overseas.
Bache & Co. ranked as the second principal brokerage house to become public in the year 1971.
The main subsidiary company of Bache & Co, Bache Halsey Stuart Shields Incorporated is the member of 59 options, commodities, and securities exchanges of Canada, United States, and abroad. The company has 176 offices in 143 locations of 11 countries and Puerto Rico and Virgin Islands.