Financial World of Ml

Financial World of Ml

The World of Merrill Lynch
When you hear the word Merrill Lynch, what is the first thing that comes to mind? For most people it is finance and retirement savings. For others, they may not know what to think because they may not know what the company does. Merrill Lynch has various “fields of expertise” that they provide to not only larger corporations but individuals who may need to have a place to put their extra funds instead of a bank. What is meant by that is if someone has their own company and they have more money then what is “legal” to keep in a bank safely, Merrill offers accounts that they can put that money into and know its safe. The legal amount a bank can hold is $100,000. To see just how long this company has been doing the best it can with finances of personal income and corporate income, you can read about it on their website. According to ML.Com (2009), it states that “On January 6, 1914, Charles E Merrill & Co. opened its doors” in New York City, NY. At that time, it was run by Charles E. Merrill. During the next 4 months, Charles was speaking with Edmund C. Lynch about joining his company as a partner and telling him how great it would be if they could work together. On May 19, 1914, Charles Merrill and Edmund Lynch opened an office located at 7 Wall Street in New York City, NY. In 1915, the name of the company was changed to Merrill, Lynch & Co. According to the website, ML.Com (2009) “At the time, an associate noted the partners’ complementary strengths: “Merrill could imagine the possibilities; Lynch imagined what might go wrong in a malevolent world”. In 1919, Merrill Lynch, still known as Merrill, Lynch & Co. made history by hiring “Annie Grimes as its operations manager, launching the career of Wall Street’s first bond saleswoman”. According to the website, ML.Com (2009), “With characteristic foresight, Charles E Merrill predicted the crash of 1929 and warned clients and partners to get “their financial house in order”. The company...

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