Bloomberg News, Feb 7, 2022

By  Max Reyes

February 7, 2022, 12:00 AM EST, quoted below in part.

See full story at Bloomberg.com

The successes of Salomon Brothers bankers -- along with their  excesses -- were once synonymous with Wall Street, as depicted in the  books “Liar’s Poker” and “Barbarians at the Gate.” Now a group of former  employees is reviving the storied name, hoping to use it as they ramp  up a new firm.

The “full-service investment bank” will cater to  businesses in New York State seeking $3 million to $300 million in  equity capital, the company said in a statement. The firm said it  intends to hire hundreds of staff in the coming years. 

“Salomon Brothers is a legendary name that has a  tremendous following,” President R. Adam Smith said in an interview. “We  have the honor to carry that legacy on our shoulders and to share that  with bankers.”

. . .

 “We believe that in the case of the modern Salomon Brothers, the brand is the star, not ourselves as individuals,” Smith said. 

Even so, there will still be a chance for bankers to  make a name for themselves by launching independent, boutique  investment-banking practices that would still be able to draw on the  larger organization’s reputation and resources, Smith said.

. . .