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Later that day, Merrill Lynch was sold to Bank of America for 0.8595 share of Bank of America common stock for each Merrill Lynch common share, or about $50 billion or $29 per share. [ 50 ] [ 51 ] This price represented a 70.1% premium over the September 12 closing price or a 38% premium over Merrill's book value of $21 a share, [ 52 ] but also ...
Thain arranged the sale of Merrill to Bank of America at $29 per share, a 70 percent premium over the market price. The deal valued the brokerage at $50 billion. Thain was expected to be president of global banking, securities and wealth management, a new division at Bank of America, to oversee its corporate and investment bank and most of ...
In May 2007, Fleming and Ahmass Fakahany were named co-presidents of Merrill Lynch. [18] In June 2008, Fleming became chief operating officer . [ 19 ] After the Bank of America merger was completed in January 2009, [ 20 ] Fleming resigned from Merrill Lynch to teach at Yale University , [ 21 ] becoming a senior research scholar and lecturer in law.
The company was founded on January 6, 1914, when Charles E. Merrill opened Charles E. Merrill & Co. for business at 7 Wall Street in New York City. [11] A few months later, Merrill's friend, Edmund C. Lynch, joined him, and in 1915 the name was officially changed to Merrill, Lynch & Co. [12] At that time, the firm's name included a comma between Merrill and Lynch, which was dropped in 1938. [13]
In 1968, Komansky joined Merrill Lynch as a broker. He became a regional director in 1981 and an executive vice president in 1990. Komansky served as a director and chief executive officer of Merrill Lynch from December 1996 to December 2002, and as a director, president and chief operating officer of the firm from January 1995 to December 1996.
Most recently, the group was named Top Global Research Firm of 2012 by Institutional Investor magazine; No. 1 in the 2013 Institutional Investor All-Asia survey for the third consecutive year; No ...
Chairman and CEO [69] 2010 Formerly with Merrill Lynch: 2017-11-13 NBCUniversal: Jeff Shell: CEO [70] 2020 Previously was Chairman of NBCUniversal Film and Entertainment 2020-03-02 News Corp: Robert James Thomson: CEO [71] 2013 Previously managing editor of The Wall Street Journal: 2017-11-12 New York Times Company: Mark Thompson: President and ...
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