The company was founded in 1792 by Niels Nielsen Schiøtt (born 12 June 1762) who on 8 October that same year was licensed as broker (stadsmægler).
In April 1796, Hans Jørgen Herløw (1763-1837; licensed bestalling 23 March 1796) became a partner in the company.
Niels Schiøtt continued the operations alone until Carl Wilhelm Hochbrandt (5 May 1785 - 15 March 1859; licensed 26 November 1819) joined him as a partner on 1 January 1820.
Emil Ferdinand Westrup (21 February 1805 - 8 April 1888), a trusted employee, replaced C. W. Hochbrandt as partner in the firm on 14 March 1857.
[1] The firm was from 1792 to 1820 based in the founder's property at the corner of Lille Strandstræde and Sankt Annæ Plads.