Search results
Results from the WOW.Com Content Network
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 ...
At that time, he remained CEO and chair of Bank of America's board. Moynihan stated he planned on remaining CEO for years. [23] In 2023, Moynihan's total compensation from Bank of America was $27.8 million, representing a CEO-to-median worker pay ratio of 230-to-1. [24] Moynihan is a fellow at Brown University, serving from 2016 to 2027. [25]
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 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. [8]
Ken Lewis, CEO of Bank of America, reportedly forced Thain to step down after several controversies, such as the losses at Merrill Lynch which proved to be far larger than previously estimated, and the award of huge executive bonuses. Thain then was chairman and CEO of the CIT Group. [1] [2] He has been a board member of Uber since 2017.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Launched on June 21, 2010, [3] Merrill Edge is a "a no-frills brokerage unit" of parent company Bank of America's retail banking division. [4] Created after Merrill Lynch became a subsidiary of Bank of America in 2008, it contains the Merrill Lynch name and its employees are included in Merrill Lynch's number of employees. [5]
Once you've signed in to your account, go to our Contact Us page on ... operation for different services ... have access to 24/7 phone support by calling 1-800-827 ...