Business Affairs
Using money from his father he established W.A. Harriman & Co banking business in 1922. In 1927 his brother Roland joined the business and the name was changed to Harriman Brothers & Company. In 1931, it merged with Brown Bros. & Co. to create the highly successful Wall Street firm Brown Brothers Harriman & Co. Notable employees included George Herbert Walker and his son-in-law Prescott Bush.
Harriman's main properties included Brown Brothers & Harriman & Co, Union Pacific Railroad, Merchant Shipping Corporation, and venture capital investments that included the Polaroid Corporation. Harriman's associated properties included the Southern Pacific Railroad (including the Central Pacific Railroad), Illinois Central Railroad, Wells Fargo & Co., the Pacific Mail Steamship Co., American Shipping & Commerce, Hamburg-Amerikanische Packetfahrt-Aktiengesellschaft (HAPAG), the American Hawaiian Steamship Co., United American Lines, the Guaranty Trust Company, and the Union Banking Corporation.
He served as Chairman of The Business Council, then known as the Business Advisory Council for the United States Department of Commerce in 1937 and 1939.
Read more about this topic: W. Averell Harriman
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