Kidder, Peabody & Co.

Kidder, Peabody & Co. was a storied American investment bank and brokerage firm founded in 1865 and headquartered in New York City. Throughout the 20th century, the firm was a major player in corporate finance, particularly known for its role in underwriting and advisory services for various industrial sectors. It is important to clarify that Kidder, Peabody & Co. was a financial services institution and not a biotechnology or life sciences company. The firm was acquired by General Electric in 1986 but suffered significant reputational and financial damage following a bond trading scandal in the early 1990s. In 1994, General Electric sold the firm's assets to PaineWebber, which was later acquired by UBS in 2000. Consequently, the Kidder Peabody brand is no longer active in the financial or healthcare markets.