The name Estabrook dates to 1851 when Estabrook & Co. was founded as a Boston based broker-dealer. In 1926, the Investment Supervision Department of Estabrook & Co. was formed to oversee the assets of the family that was the company’s majority owner. The name Estabrook Capital Management, as it exists today, is the result of a purchase in 1970 by current chairman Charles Foley and Frank Whittelsey. The two partners changed the name to Estabrook Capital Management, moved its operations to New York City, and reorganized to exclusively manage client investment portfolios.
In 1999, the principals of Estabrook Capital Management sold the firm to the Bank of New York. After three years, Charlie Foley left Estabrook Capital Management and created another investment advisory firm, this time named Grove Creek Asset Management. Then, in March of 2008, Grove Creek purchased the name Estabrook Capital Management and certain assets back from the Bank of New York Mellon. The combined firms took the name Estabrook Capital Management, forming the company built to serve you today.