(Bloomberg) -- Edward W. Wedbush, founder of the Los Angeles-based brokerage and investment bank Wedbush Securities, has died. He was 87.
Wedbush died Jan. 5 at his home in Rancho Santa Fe, California, the closely held firm said in a statement. No cause of death was given.
Wedbush, who was known as Ed, founded his firm in 1955 as Wedbush & Co. He was president and chief executive officer for 63 years, before relinquishing day-to-day leadership in 2018. His son Gary Wedbush was named co-president with Richard Jablonski.
The elder Wedbush didn't retire. He continued to come to the office and manage money for himself and a few long-term clients, Jablonski said at the time.
“Edward is and always will be remembered as a pioneer in financial services,” the firm said in its statement.
Edward Wedbush is survived by his wife, Jean, and his children, Gary, Eric and Leigh Ann, the company said.
To contact the reporter on this story: Dan Reichl in San Francisco at dreichl@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Josh Friedman, Alan Mirabella
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