In 1982, Morgan, the great-grandson of J. P. Morgan, established a retail and brokerage firm known as Morgan Lewis Githens & Ahn, Inc. In 1985, it organized a leveraged buyout with the Olin Corporation, an industrial chemical concern based in Stamford, Connecticut, of Olin's Ecusta cigarette paper business. In 1987, the firm assisted with the acquisition of Service America Corp. from Alleco Inc., formerly Allegheny Beverage Corporation, for $450 million in cash and securities.