
Merrill Lynch & Co., Inc., through its subsidiaries and affiliates,
provides capital markets services, investment banking and advisory
services, wealth management, asset management, insurance, banking
and related products and services on a global basis. The firm's
global headquarters are located in New York City and it is one of
the most recognizable names in financial services. The company
occupies the entire 34 stories of the Four World Financial Center
building in Manhattan.
The company was founded on January 6, 1914, when Charles E.
Merrill & Co. opened for business at 7 Wall Street in New York City.
A few months later, Merrill's friend, Edmund C. Lynch, joined him
and in 1915 the name was officially changed to Merrill Lynch & Co.
In 1916, Winthrop H. Smith joined the firm. He ran the firm from
1940 until his death in 1961 and the partnership honored his
leadership by placing his name on the firm: Merrill Lynch, Pierce,
Fenner & Smith, Inc in 1958.
Merrill Lynch rose to prominence on the strength of its brokerage
network (15,000+ as of 2006), sometimes referred to as the
"thundering herd," that allowed it to place securities it underwrote
directly.[2] In contrast, many established Wall Street firms, such
as Morgan Stanley, relied on selling groups of independent brokers
for placement of the securities they underwrote. Until as late as
1970, it was known as the "Catholic" firm of Wall Street.The firm
went public in 1971 and has since become a multinational corporation
with over US $1.8 trillion in client assets operating in more than
40 countries around the world. In 1978, it significantly buttressed
its securities underwriting business by acquiring White Weld & Co.,
a small but prestigious old-line investment bank. Merrill Lynch is
best known for its Global Private Client services and its strong
sales force.
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(Last Update June 19, 2007)
Source: https://www.card.ml.com/MLRewardsCenter/View-Cards/MERRILL-Plus/ML-Cards-Merrill-Plus-FAQs.htm
This credit card offer from Merrill® is in partnership with FIA Card
Services, N.A.