In 1931, it took courage, determination, and foresight to open a new investment firm. Wayne Hummer and George Barnes brought these qualities to bear in founding Wayne Hummer & Company.
Wayne Hummer and George Barnes were successful commercial bankers who saw, in the midst of the Great Depression, a remarkable opportunity for a service firm that could provide small and medium-sized banks with sound, long-term investment advice. Joined by LaSalle Street veteran, Harry A. Baum, they articulated a business philosophy based firmly on integrity, quality, and dependability – a philosophy that quickly began to win clients and friends. They established countless working relationships with banks throughout the Midwest and gradually, through referrals of their bank clients, the number of individual accounts grew.
Over the years, the Wayne Hummer name has come to stand for the highest standards of ethics and integrity. These qualities fueled the firm’s growth and helped it forge a reputation as a leading provider of trusted financial advice. This notoriety served as a platform for expansion, including the addition of trust and asset management companies, and a partnership with Wintrust Financial Corporation.
Today, Wayne Hummer Investments serves as the investments and insurance arm of Wintrust Wealth Management alongside The Chicago Trust Company and the asset management firm, Great Lakes Advisors. With over 60,000 clients in the Midwest and across the country, Wayne Hummer Investments continues to uphold the values established at its inception and to pursue its mission of providing trusted financial advice with an uncommon level of personal service and attention.
| 1931 | Wayne Hummer & Co. opens its doors as a new brokerage firm to ethically serve the customers of the Hummer family bank |
| 1936 | Expand into Wisconsin with an office in Sheboygan |
| 1939 | Establish an office in Appleton, Wisconsin |
| 1941 | Develop estate valuation service for use by banks and attorneys in determining inheritance taxes |
| 1942 | Develop new NYSE commission calculation based on transaction value rather than number of shares—soon adopted by all exchanges |
| 1945 | Successfully campaign Congress for corporate tax reform for small banks and corporations |
| 1951 | Play a leading role in instituting clearance-by-mail system that greatly reduces transaction costs on the NYSE |
| 1955 |
Initiate Dial-A-Stock, a 24-hour telephone stock report Midwest Stock Exchange elects senior partner of the firm as Chairman |
| 1962 |
Become first to use Midwest Stock Exchange computer system and install a direct wire to the floor of the NYSE Campaign to stop federal legislation that would have subjected interest payments and dividends to a 20% withholding tax |
| 1971 | Partner of the firm serves as Chairman of the Midwest Stock Exchange for a second time |
| 1972 | Feature topic on front page of the Wall Street Journal highlighting the firm’s conservative, ethical approach |
| 1981 | Establish Wayne Hummer Asset Management Company |
| 1982 | Senior partner chairs the committee responsible for modernizing Illinois Securities Law |
| 1984 | Introduce Banker’s Discount Brokerage Service for small banks across the Midwest |
| 1989 | Reach $1 billion in assets under management |
| 1990 | Firm’s Chief Economist wins the Blue Chip Economic Forecasting Award |
| 1991 | Establish Trust department at Lake Forest Bank & Trust |
| 1994 | NASD elects firm’s CEO to Board of Governors |
| 1995 | Establish correspondent services financial advisor group to provide investment centers for small, local banks |
| 2002 | Partner with Wintrust Financial Corporation |
| 2004 | Trust department for Wintrust banks becomes part of Wayne Hummer |
| 2006 | Introduce Wayne Hummer Wealth Management name to reflect broadened scope of financial services offered |
| 2010 | Rename Wayne Hummer Wealth Management to Wintrust Wealth Management, and Wayne Hummer Trust Company to The Chicago Trust Company |
| 2011 | Acquire Great Lakes Advisors and rename the asset management group to Great Lakes Advisors, LLC |
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