By Winthrop H. Smith Jr
The interesting tale in the back of the corporate that revolutionized the monetary world Catching Lightning in a Bottle strains the whole background of Merrill Lynch and the company's massive influence at the international of finance, from the start of the once-mighty corporation to its inauspicious finish. all through its ninety-four yr heritage, Merrill Lynch revolutionized finance by way of bringing Wall highway to major road, working lower than a chain of guidance referred to as the foundations. those values allowed the corporate to achieve the belief of small traders via placing the consumers' pursuits first, using a enterprise trajectory that extended capital markets and fueled the expansion of the yankee post-war economic climate. Written by means of the son of Merrill Lynch co-founder Winthrop H. Smith, this publication describes the construction and evolution of the corporate from Charlie Merrill's one-man store in 1914 to its acquisition by means of financial institution of the US in 2008.
writer Winthrop H. Smith Jr. spent twenty-eight years on the corporation his father co-founded, bringing a distinct standpoint to undergo in telling the tale of the corporate that democratized the inventory industry and finally fell from its lofty perch.
- Learn why the firstly scoffed at Charles Merrill's "radical" funding ideas
- Discover the beginning of the rules, and the way they drove operations for almost a century
- Find out why the writer left a winning Wall highway occupation, and why it used to be any such shrewdpermanent move
- Examine the tradition and values that outfitted Merrill Lynch into one of many world's so much winning and revered companies
innovative imaginative and prescient is uncommon, and enduring good fortune is much more so. whilst a unmarried association demonstrates either one of these features, it really is felt during the international. notice the interesting tale at the back of Merrill Lynch and the lads who outfitted it from an insider's standpoint in Catching Lightning in a Bottle.
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Extra resources for Catching Lightning in a Bottle: How Merrill Lynch Revolutionized the Financial World
SMITH JR. Cover Design: C. com/AlexeyPushkin Copyright © 2013 by Winthrop H. Smith, Jr.. All rights reserved. , Hoboken, New Jersey. Published simultaneously in Canada. com. com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose.
The temple-like building housing the New York Stock Exchange had just been opened four years earlier, and sightseers still marveled at the seven white columns on the outside and the trading hall, which was one of the largest rooms, with one of the highest ceilings, in the world. But just as there would be 101 years later, panic was in the air as CEM came on the scene. Wall Street’s overextended financial markets were shredding; bankers were resigning under barrages of criticism, and when any bank was mentioned in the newspapers, lines began forming at its doors.
During nearly twenty-eight years at the company, however, I came to know him better and to appreciate the principles and the culture that he and Charlie Merrill had created. I was proud to be a member of the Mother Merrill family. Being the son of Winthrop H. Smith had many benefits, but it also presented challenges. I had to work extremely hard every day to prove myself worthy of the name. Over the years I held line and staff positions in investment banking, wealth management, finance, human resources, and marketing prior to becoming Executive Vice President, Chairman of Merrill Lynch International and a member of the Merrill Lynch & Co.
Catching Lightning in a Bottle: How Merrill Lynch Revolutionized the Financial World by Winthrop H. Smith Jr