`He Is The Spirit Of Merrill Lynch, From Wall Street To Main Street'

When Donald T. Regan was CEO of Merrill Lynch & Co. from 1970 to 1980, the outspoken ex-Marine generated continual publicity. In contrast, William A. Schreyer has never been the subject of a major media profile during his six years as Merrill's chief executive, says a firm spokesman. Critics say that under his easygoing tutelage, Merrill lumbered along on mere inertia, with little regard for profitability. "He doesn't exude great management talent," says a longtime Merrill gadfly, First of Michigan analyst Perrin Long.

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