Brown Advisory LLC is an American investment management firm based in Baltimore, Maryland. It was originally the investment management arm of Alex. Brown & Sons, the first investment bank in the United States. The firm is majority employee-owned.
Background
Brown Advisory traces its origins to Alex. Brown & Sons, an investment bank headquartered in Baltimore, Maryland that was the first investment bank in the United States. In 1974, Alex. Brown Investment Management (ABIM) was established as the investment management unit of Alex. Brown & Sons where it managed assets and distributed mutual funds. In 1993, Brown Advisory was established as another investment management unit of Alex. Brown & Sons where it aimed to provide investment guidance to high-net-worth individuals and focused on financing growth companies. When Alex. Brown & Sons was acquired by Bankers Trust, both units continued to operate under it.[3][4][5][6]