Merrill Lynch
Merrill Lynch & Co., Inc. is an international financial conglomerate which, through its many subsidiaries, offers financial and investment services for private, institutional, and government clients around the world. Its chief divisions are conventional banking, investment banking, wealth management, asset management, and insurance.
On September 14, 2008, Bank of America made a $50 billion all-stock agreement to purchase the embattled brokerage.1
Fast Facts
- Stock symbol: MER (NYSE)
- Annual revenue (2007): $62.7 billion
- Founders: Charles E. Merrill and Edmund C. Lynch
- Year established: 1914
- Industry: Finances and insurance
- Phone: 212-449-1000
- Fax: 212-449-7357
- HQ: New York, New York
- President/CEO: John Thain
- CFO: Nelson Chai
- Staff: 64,900
Key Dates
- January 6, 1914: Company founded by Charles E. Merrill, soon joined by Edmund C. Lynch to form Merrill, Lynch & Co.
- 1916: Winthrop H. Smith joins the firm
- 1921: Successfully invests in RKO Pictures
- 1926: Invests in a controlling share of Safeway, which transforms into a national chain within years
- 1940: Merges with E. A. Pierce & Co. and Cassatt & Co., and name changes to Merrill Lynch, E. A. Pierce, and Cassatt
- 1952: Name changes to Merrill Lynch & Co., Inc.
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