In 1876 John Paterson bought out partners Henry C Palmer and Briscoe Ray in the company Paterson, Ray, Palmer and Company and with James Robert Laing (previously with Laing and Webster) as partner, formed Paterson, Laing and Company. A London office was established in 1878 in Australian Avenue, St Giles without Cripplegate. In 1879, John Monro Bruce (resident partner of George Webster and Company) became a partner with the firm assuming the name Paterson, Laing and Bruce. In 1893 the partnership included Paterson, John Robert Laing (son of James), JM Bruce, George Williamson Bruce, John Glaister Paterson, and Thomas James Amour Clark. In 1897, JM Bruce acquired the other interests and converted the business to a limited liability company, Paterson, Laing and Bruce Limited. The company was registered in London in January 1898 with two branch houses in Melbourne and London. In 1899 the businesses Lark, Sons and Company Limited (Sydney) and R Lewis and Sons (Hobart) were acquired and a Sydney office established. In July 1901 the newly formed company Paterson, Laing and Bruce (1901) Limited took over the old company, registered in England, but in November 1903 the name reverted to Paterson, Laing and Bruce Limited. In February 1966, the company merged with Robert Reid and Company Limited to form Paterson, Reid and Bruce Limited, a direct subsidiary of Ralli Australia Proprietry Limited.