Table: Merrill Lynch: A History
Charles E. Merrill founds Charles E. Merrill & Co. at 7 Wall Street in New York City. The firm helps growing companies raise capital.
Edmund C. Lynch joins the company, which becomes Merrill Lynch & Co. (MER )
First Wall Street firm to issue an annual report.
Joins the New York Stock Exchange.
London office opens.
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.
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.
First non-Japanese securities firm to become a regular member of the Tokyo Stock Exchange.
David H. Komansky becomes CEO.
Total retail assets reach $1 trillion.
In response to the Asian financial crisis, Merrill lays off 5% of its workforce.
Chief Financial Officer Stanley O'Neal is named head of the firm's army of retail stockbrokers.
Board of directors appoints O'Neal president and chief operating officer.
Data: Merrill Lynch & Co., BusinessWeek