Alex. Brown & Sons

Alex. Brown & Sons was the first investment bank founded in the United States, established in 1800 in Baltimore. While primarily a financial services firm, it played a pivotal role in the biotechnology industry during the 1980s and 1990s by underwriting the initial public offerings of many foundational biotech companies. The firm was renowned for its deep sector expertise in healthcare and technology, helping to bridge the gap between emerging scientific research and capital markets. After a series of acquisitions by Bankers Trust and Deutsche Bank, the Alex. Brown brand was eventually sold to Raymond James in 2016. Today, it operates as a high-net-worth wealth management division within Raymond James, maintaining its historical legacy in the financial sector.