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May 17, 2019 · Pioneer investor Charles Merrill's secret to success was that he knew doing the right thing by his clients was also a profitable business model.
Sep 15, 2008 · After the stock market crash of 1929, Merrill survived in large part by spinning off its retail brokerage business and focusing on investment banking. The company later reunited.
Dec 7, 1998 · He was the first investment banker to realize that chain stores would one day dominate retailing, and he got rich by underwriting (and often controlling) such future powerhouses as S.S. Kresge...
- Joseph Nocera
Merrill himself was a founder of Safeway Stores, and the company underwrote the initial public offering for McCrory Stores. By the late 1920s, Merrill, Lynch was reaping the benefits of that decade's prolonged economic boom, but Charles Merrill gradually became uneasy about the frantic pace of investment.
With his early success and a burning desire to be his own boss, Merrill in partnership with Edmund Lynch, opened his own brokerage house in 1914 at 7 Wall Street. While most Wall Street executives disdained chain stores as a passing fad, Merrill recognized them as the future of American shopping.
- Elle Hansen
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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With Merrill as their cham-pion, securities would become a consumer product that would hold as important a place in America’s commercial culture as automo-biles and life insurance policies. After working on Wall Street for several years, Merrill started his own firm in January 1914.
