David Eccles and his family sail from Scotland to America in 1863 via the ship Cynosure.
David Eccles forms the Ogden Lumber Company in 1889. Over the course of 23 years, much of his profits were reinvested into other Utah enterprises such as banks, insurance companies, railroads, factories, and real estate.
David Eccles died in 1912 in Salt Lake City, UT. At the time of his death, he was president of 16 industrial corporations and 7 banks, as well as a director in 24 other banks and industries.
Late 20th Century
Through the Eccles Investment Company, a family holding company, David Eccles’ sons Marriner and George Eccles, on behalf of the family, acquire control of many of their father’s enterprises.
In 1928 E.G. Bennett and Marriner and George Eccles organize the First Security Corporation as a holding company to manage their family’s numerous banks and savings and loan institutions.
During the 20th Century, the Eccles Investment Company’s holdings included some of the largest mining, beet sugar processing, and banking companies in the U.S.
At the end of the 20th Century the family sold most of its long held private investments to large public companies in some of the landmark merger and acquisition transactions of the era.
Continuing the legacy established over a century ago, The Cynosure Group was formed in 2014 as an alternative investment firm commissioned to manage the family investment portfolio as well as those of other long-term investors.
Today, The Cynosure Group makes long-term investments in private companies and forms or seeds new investment products with external managers.