Merrill Lynch
Merrill Lynch & Co., Inc., through its subsidiaries and affiliates, primarily, Merrill, Lynch, Pierce, Fenner and Smith Incorporated, 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 the
1920s the firm's New York office was at 120
Broadway, and it also had offices in
Detroit,
Chicago,
Denver,
Los Angeles and
Dublin.
Today, the
multinational corporation operates in more than 40 countries around the world and has over US $1.8
trillion in client assets. Merrill Lynch is best known for its Global Private Client services and its strong sales force.
* GPC: Global Private Client
* GMI: Global Markets & Investment Banking Group
* MLIM: Merrill Lynch Investment Managers/
BlackRock, Inc.
* Corporate Resources
** Global Securities Research and Economics Group (Research)
** GIS: Global Infrastructure Solutions
** OGC: Office of General Counsel
** C&PA: Communications and Public Affairs
** CFO: Chief Financial Office
** LTM: Leadership & Talent Management (formally Human Resources)
*
Financial Data Services, Inc., transfer agency
*
Merrill Lynch Europe PLC, soon to be rolled up into
Merrill Lynch International*
Merrill Lynch, Pierce, Fenner & Smith Incorporated (PFS)
*
Merrill Lynch Bank & Trust & Federal Savings Bank (MLBTFSB, as of July 2006)
*
Merrill Lynch International (MLI)
*
Merrill Lynch Government Securities, Inc (GSI)
*
Merill Lynch Japan (MLJ), soon to be rolled up into
Merrill Lynch International*
Merrill Lynch Canada (MLC), soon to be rolled up into
Merrill Lynch InternationalThe Merrill Lynch Professional Networks (MLPN) are employee-driven, local networks, organized regionally both across and within business groups. The objectives include diversifing business development, recruitment and retention, and community leadership. Not all networks are available at all Merrill Lynch office locations. Out of the 9 listed networks, Women's Professional Network has by far the most members and is the most active.
*Asian Pacific American Professional Network
*South Asian Professional Network
*Black Professional Network
*Disability Awareness Professional Network
*Hispanic Professional Network
*LGBT Professional Network
*Native American Professional Network
*Women's Professional Network
*Rainbow Professional Network
*
New York City, New York, U.S., global headquarters
*
Jacksonville, Florida, U.S., corporate center, supporting North America operations
*
Hopewell, New Jersey U.S., corporate center, supporting North America operations
*
Princeton, New Jersey, U.S.
*
Singapore, corporate center, supporting Asian Pacific operations, including Hong Kong & Tokyo
*
London, U.K., European headquarters
*
Hong Kong,
PRCAnalyst conflict-of-interest, 2002
In May 2002, a settlement was reached with the
Attorney General of the State of
New York, which imposed a $100 million fine on Merrill Lynch, as well as an agreement to sever all links between analysts' pay and investment banking
revenue. The settlement was related to wrongdoings by equity analyst
Henry Blodget. In December 2002 the company was fined an additional $100 million.
Discrimination, 2006
In Mid-July 2006 The
New York Times broke the case of a discrimination lawsuit brought on by over 70 current and former Merrill Lynch Employees. The case alleges Merrill Lynch being discriminatory in their hiring and promotion practices for the past years. The case has been taken up by the famous the Civil Rights attorneys from Mary Stowell, Linda Friedmen and the law firm
Stowell Friedmen LTD from
Chicago. The case has undergone many negotiations and at this time no deal has been struck between the two parties.
*
Global settlement*
Primary dealers*
World Wealth ReportMerrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, a 2006 Supreme Court case involving securities fraud claims.
*
Official Website*
CNN Article - Merrill Lynch settling conflict of interest charges
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Yahoo! Finance - Merrill Lynch & Co., Inc. Company Profile*
Google Finance - Merrill Lynch profile, market charts, blog posts & discussions
