Financial History Issue 133 (Spring 2020) | Page 40

Dale Frey, manager for E.F. Hutton & Co. in Denver, shows off the company’s new electronic equipment, circa 1968.
$28 billion in assets under management,
but only Shearson was willing to take on
the Hutton firm, its liabilities and regula-
tory problems.
Shearson had approached Hutton about
a merger in 1986, which was rejected.
After the 1987 Stock Market Crash, Hutton
changed its mind. In 1988, the firm became
Shearson/Lehman Hutton Inc. In 1990,
however, the Hutton name was dropped
and the firm became Shearon Lehman
Brothers Inc. With that change, the E.F.
Hutton name was lost to history. 
Susie J. Pak is an Associate Professor in
the Department of History at St. John’s
University (New York). A graduate of
Dartmouth College and Cornell Uni-
versity, she is the author of Gentlemen
Bankers: The World of J.P. Morgan
(Harvard University Press), a Trustee of
the Business History Conference, co-chair
of the Columbia University Economic
History Seminar and a member of the
editorial advisory board of the Business
History Review. She is also a member
of the Financial History editorial board.
38    FINANCIAL HISTORY  |  Spring 2020  | www.MoAF.org
About Where Are They Now?  The “Where
Are They Now?” Series traces the origins
and histories of 207 of the underwriters of
the 1956 Ford Motor Company IPO. The
research for this series has been generously
funded by Charles Royce of The Royce
Funds. The Museum’s “Where Are They
Now?” blog can be found at: wherearethey-
nowblog.blogspot.com.