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Charles Edward Merrill (October 19, 1885 – October 6, 1956) was an American philanthropist, stockbroker, and co-founder, with Edmund C. Lynch, of Merrill Lynch (previously called Charles E. Merrill & Co.).
In 1930, Charles E. Merrill led the firm through a major restructuring, spinning-off the company's retail brokerage business to E. A. Pierce & Co. to focus on investment banking. Along with the business, Merrill also transferred the bulk of its employees, including Edmund C. Lynch and Winthrop H. Smith. Charles Merrill received a minority ...
Dec 7, 1998 · CHARLES MERRILL: Main Street Broker. 8 minute read. Joseph Nocera. December 7, 1998 12:00 AM EST. I n 1940, the year Charles Edward Merrill founded the firm we now know as Merrill Lynch &...
- Joseph Nocera
Charles E. Merrill (born Oct. 19, 1885, Green Cove Springs, Fla., U.S.—died Oct. 6, 1956, Southampton, N.Y.) was an American investment banker who guided his company through a series of mergers that resulted in the creation of the brokerage firm of Merrill Lynch, Pierce, Fenner & Smith Inc., the largest in the United States.
Overview. As cofounder of Merrill, Lynch & Co. in 1914, Charles E. Merrill launched a Wall Street dynasty that would long outlive him. Building on the slogan "Bring Wall Street to Main Street," he designed his business around middle-class investors, not stock exchange insiders.
Merrill created the main street brokerage by founding the Merrill-Lynch Company. He was the first investment banker to realize that chain stores would one day dominate retailing and handled underwriting for at least 25 retail stores (such as S.S. Kresge – now K-Mart and Safeway Stores).
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The chapter describes the life of Charles Merrill and the formation of Merrill Lynch. Keywords: Retail investor, chain stores, Safeway Stores, Ed Lynch, account executive, investigate then invest, Waldorf-Astoria.
