Complex sentence: By most measures, Shearson became the second largest Merrill Lynch as the second-largest brokerage firm in the U.S. although the merger with Loeb Rhoades was more notable for introducing a stronger investment banking business to Shearson.
Split into simpler sentences: By most measures, Shearson became the second largest brokerage firm in the U.S. trailing only Merrill Lynch. The the merger with Loeb Rhoades was more notable for introducing a stronger investment banking business to Shearson.