When did the Large Elliptical Galaxies Form?
  The simple reading of the evidence is that the large elliptical galaxies existed at about the present star mass and comoving number density at redshift z=2. This is subject to the usual uncertainties of measurement and interpretation in astronomy, but should be taken seriously because it is indicated by quite a few lines of evidence. And it might be a guide to a more perfect theory of galaxy formation. 
P. J. E. Peebles