John Gutfreund
Encyclopedia
John H. Gutfreund is the former CEO
of Salomon Brothers
Inc, an investment bank that gained notoriety in the 1980s. Gutfreund turned Salomon Brothers from a private partnership
into a publicly traded corporation
which started a trend in Wall Street for investment companies to go public. He became the icon for the excess that defined the 1980s culture in America. In 1985, Business Week gave him the nickname "King of Wall Street".
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Salomon Brothers
Salomon Brothers
Salomon Brothers was a bulge bracket, Wall Street investment bank. Founded in 1910 by three brothers along with a clerk named Ben Levy, it remained a partnership until the early 1980s, when it was acquired by the commodity trading firm Phibro Corporation and then became Salomon Inc. Eventually...
Inc, an investment bank that gained notoriety in the 1980s. Gutfreund turned Salomon Brothers from a private partnership
Partnership
A partnership is an arrangement where parties agree to cooperate to advance their mutual interests.Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace...
into a publicly traded corporation
Public company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
which started a trend in Wall Street for investment companies to go public. He became the icon for the excess that defined the 1980s culture in America. In 1985, Business Week gave him the nickname "King of Wall Street".