Editing EF Hutton (section)

=== Founding through the 1970s ===
E.F. Hutton & Co. was founded in [[San Francisco]] in 1904 by namesake Edward Francis Hutton and his brother, Franklyn Laws Hutton. EF Hutton was one of the first brokerages to open offices in [[California]]. In 1906, two years after the firm was founded, its offices were destroyed in the [[San Francisco earthquake of 1906]]. In 1924, famed Wall Street trader [[Gerald M. Loeb]] joined the firm, ultimately rising to chairman. The firm developed a nationwide retail brokerage network to market its debt and equity securities. It also operated seasonal offices in [[Palm Beach, Florida]] (winter) and [[Saratoga Springs, New York]] (summer) to cater to its customers. Morrie Cohen opened Hutton's first one-man office on [[Maui]] in December 1969.

Hutton, an entrepreneur who later also became chairman of the [[General Foods Corporation]] and for years wrote a newspaper column, led the firm until his death in 1962. In 1970, [[Robert M. Fomon]] was appointed Hutton's [[Chief Executive Officer]].<ref>[https://archive.today/20120711203232/http://news.google.com/newspapers?id=7aAmAAAAIBAJ&sjid=xgEGAAAAIBAJ&pg=2759,4030441&dq=robert+foman+miss+america&hl=en Robert Fomon at Hutton] September 30, 1985 ''The Miami News''</ref> In the early 1970's the firm hired [[Carole Brookins]], making her one of the few women stockbrokers on the Chicago futures exchange floors at the time.<ref>{{Cite news|last=Marek|first=Lynne|url=https://www.chicagobusiness.com/finance-banking/carole-brookins-pioneering-woman-cbots-trading-floor-dies-after-covid-diagnosis|title=Carole Brookins, a pioneering woman on CBOT's trading floor, dies after COVID diagnosis|date=27 March 2020|work=Crain's Chicago Business|access-date=26 April 2020}}</ref><ref>{{Cite news|last=Seelye|first=Katharine Q.|url=https://www.nytimes.com/2020/04/22/obituaries/carole-brookins-dead-coronavirus.html|title=Carole Brookins, a Rare Woman on 1970s Wall Street, Dies at 76|date=22 April 2020|work=The New York Times|access-date=26 April 2020}}</ref> Despite the failure or takeover of many of its peers in the 1960s and 1970s, Hutton retained its independence under Fomon's leadership. By the early 1980s, the original E.F. Hutton & Co. had become the principal component of what grew into a group of companies owned by '''E.F. Hutton Group''' Inc., listed on the [[New York Stock Exchange]].<ref>{{Cite news| url = https://www.chicagotribune.com/1985/09/08/how-ef-hutton-scandal-unfolded/|title= How E.f. Hutton Scandal Unfolded|author=Douglas Frantz|publisher=[[Chicago Tribune]] |date = September 8, 1985}}</ref> Other subsidiaries of that [[Delaware]]-chartered holding company were E.F. Hutton Trust Company (now "[[Smith Barney]] Corporate Trust Company" and owned by [[Citigroup]]), E.F. Hutton Life Insurance Company, and E.F. Hutton Bank. The Hutton companies also managed many [[mutual fund]]s and other investment vehicles, some of which were separately incorporated and/or registered, and participated actively in corporate mergers and public offerings of [[security (finance)|securities]]. In 1976, [[Western Union]] partnered with E. F. Hutton & Co.