Now this guy truly was a legend.
Bloomberg News reports that William 'Billy' Salomon, who turned Salomon Brothers, the bond trading house co-founded by his father, into a Wall Street force in stock trading and underwriting, has died. He was 100.
He died on December 7th at his home in Manhattan following a gradual decline in health, his son, Peter F. Salomon, said today in an interview.
First as part of a three-member governing committee, then as managing partner from 1963 to 1978, Salomon modernized the firm that his father and two uncles had started in 1910.
After retiring in 1978, at 64, Salomon watched as the partnership was sold, transformed into a public corporation and ultimately folded into today’s Citigroup.
Citigroup said in a statement: 'We deeply mourn the loss of William R. Salomon, who was instrumental in transforming Salomon Brothers from a bond trading house to an international investment bank. We remain grateful for his leadership and contributions and extend our deepest sympathies to his family'.
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