Edward Wedbush, Founder of Wedbush Securities, Dies at 87
(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.
(Shortly before his resignation, Wedbush’s firm was fined $2.5 million for alleged net capital and sales-supervision violations, AdvisorHub reported.)
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.