Catching Lightning in a Bottle: How Merrill Lynch Revolutionized the Financial World

Winthrop H. Smith Jr.; William Ecenbarger

ISBN 10: 0989854302 / ISBN 13: 9780989854306

Published by Winthrop H. Smith Jr., 2013

About this Item

The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged.

Seller Inventory # GOR008277049

Bibliographic Details

• Title: Catching Lightning in a Bottle: How Merrill Lynch Revolutionized the Financial World
• Publisher: Winthrop H. Smith Jr.
• Publication Date: 2013
• Language: English
• ISBN 10: 0989854302
• ISBN 13: 9780989854306
• Binding: Paperback
• Condition: Very Good
• Weight: 998 grams

About this title

Synopsis

This book - the first complete history of Merrill Lynch - traces ML's impact on the world of finance from the day Charlie Merrill opened his one-man shop on January 6, 1914, to the final shareholder meeting prior to its acquisition by Bank of America on December 5, 2008.

Win Smith also weaves in his personal experiences and observations. As the son of a founding partner, the author has known every Merrill Lynch CEO from the first, Charlie Merrill, to the last, John Thain.

While it details the drastic decline of the company between 2001 and 2008, it also explores the story of the company's "Mother Merrill" tradition - the vision and guiding principles shared by employees with each other and with their clients throughout the world.

From the Inside Flap

How Merrill Lynch Revolutionized the Financial World

In 1939 Charles E. Merrill and Winthrop H. Smith came up with a radical idea for investing: democratize the stock market and bring "Wall Street to Main Street." Together they created a company that would earn the trust of small investors by putting their clients' interest first. To achieve this, they set down a series of guidelines for employees that came to be known as the Principles.
While the rest of Wall Street scoffed, Merrill and Smith put their idea into action. Merrill Lynch expanded capital markets and fueled the growth of the American economy after World War II. In 1974 Winthrop H. Smith Jr. came to work for the company that his late father had co-led for twenty-one years, starting in the "bullpen" as an entry-level investment banking associate. He rose steadily, working not only in investment banking but also in marketing, human resources, finance, and sales management.
But in 2001 Smith chose to end his successful Wall Street career in its twenty-eighth year for one simple, compelling reason. He believed that the new CEO, E. Stanley O'Neal, did not understand the Principles, nor did he appreciate the nurturing culture and values--known collectively as "Mother Merrill"--that had made the firm one of the most successful and respected companies in the world. Without these in place, Smith was sure the company would falter. He was right.
Catching Lightning in a Bottle--the first history of Merrill Lynch--traces its impact on the world of finance from the day Charlie Merrill opened his one-man shop on January 6, 1914, to the final shareholder meeting prior to its acquisition by Bank of America on December 5, 2008.