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Merrill Lynch & Co., formally Merrill Lynch, Pierce, Fenner & Smith Incorporated, was a publicly-traded American investment bank that existed independently from 1914 until January 2009 before being acquired by Bank of America and rolled into BofA Securities. The firm engaged in prime brokerage and broker-dealer activities and was headquartered ...
Merrill Edge is an electronic trading platform and investment advisory service that provides self-directed and guided investment options for individuals and businesses. It is a subsidiary of Bank of America and was launched in 2010 after the merger between Merrill Lynch and Bank of America. Merrill Edge offers a wide range of investment ...
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The company was founded on January 6, 1914, when Charles E. Merrill opened Charles E. Merrill & Co. for business at 7 Wall Street in New York City. [11] A few months later, Merrill's friend, Edmund C. Lynch, joined him, and in 1915 the name was officially changed to Merrill, Lynch & Co. [12] At that time, the firm's name included a comma between Merrill and Lynch, which was dropped in 1938. [13]
On October 3, 2008, Bank of America announced that John Thain would lead the combined Bank of America/Merrill Lynch Global Corporate and Investment Banking enterprise. Thain was forced out by Bank of America Chairman Kenneth D. Lewis on January 22, 2009, because of the colossal losses visited on B of A due to its acquisition of Merrill Lynch. [44]
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Merrill and his friend, Edmund C. Lynch, created Merrill Lynch in 1915.Merrill made his money by investing. He orchestrated the 1926 merger which created the Safeway food chain, and Merrill Lynch provided investment banking services to Safeway to finance the acquisition of other chains, growing Safeway to more than 3,500 stores across the United States by 1931.
In 1986, O'Neal joined Merrill Lynch and, by the early 1990s, he was running Merrill's leveraged finance division. [8] After spells as global head of capital markets and co-head of the corporate and institutional client group, he spent two years as CFO from 1998 to 2000. In 2000, he was appointed president of the U.S. Private Client Group, the ...