Magazine

Table: Merrill Lynch: A History


1914

Charles E. Merrill founds Charles E. Merrill & Co. at 7 Wall Street in New York City. The firm helps growing companies raise capital.

1915

Edmund C. Lynch joins the company, which becomes Merrill Lynch & Co. (MER)

1941

First Wall Street firm to issue an annual report.

1959

Joins the New York Stock Exchange.

1960

London office opens.

1971

Goes public on June 23, offering 4 million shares at a split-adjusted price of $1.75 per share. Launches its "bullish on America" ad campaign.

1977

Introduces the Cash Management Account, a product that for the first time combines brokerage and banking services, including a securities margin account, money market and checking accounts, and a Visa debit card.

1986

First non-Japanese securities firm to become a regular member of the Tokyo Stock Exchange.

1996

David H. Komansky becomes CEO.

1997

Total retail assets reach $1 trillion.

1998

In response to the Asian financial crisis, Merrill lays off 5% of its workforce.

2000

Chief Financial Officer Stanley O'Neal is named head of the firm's army of retail stockbrokers.

JULY 2001

Board of directors appoints O'Neal president and chief operating officer.

Data: Merrill Lynch & Co., BusinessWeek


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