Merrill Lynch, Pierce, Fennner & Smith Incorporated (Signed by Donald Regan)

Merrill Lynch, Pierce, Fennner & Smith Incorporated (Signed by Donald Regan)
Item# 9998mldr

On January 6,1914, Charles E Merrill & Co. opens its doors. Merrill's credo: "I have no fear of failure, provided I use my heart and head, hands and feet — and work like hell." Merrill persuades Lynch to join him and, on 19 May, they open their office at 7 Wall Street.

In 1915, Charles E. Merrill & Co. changes its name to Merrill, Lynch & Co. At the time, an associate noted the partners' complementary strengths: "Merrill could imagine the possibilities; Lynch imagined what might go wrong in a malevolent world."

In 1919, Merrill, Lynch & Co. hires Annie Grimes as its operations manager, launching the career of Wall Street's first bond saleswoman.

In 1932, as part of his investor education effort, Charlie Merrill puts his grocery-store chain experience (Merrill Lynch had earlier purchased Safeway Stores) to use in founding Family Circle, the first grocery store point-of-sale magazine.

On May 12, 1938, Edmund Lynch passes away in England, at the age of 52. Out of respect to his deceased partner, Charlie Merrill decides to drop the comma from Merrill, Lynch & Co. and create the name of the modern firm, Merrill Lynch.

In the 1940’s, Merrill Lynch, E. A. Pierce & Cassatt and Fenner & Beane (a securities firm originally based in New Orleans) merge. Merrill Lynch, Pierce, Fenner & Beane becomes the world's largest securities house, with offices in 93 cities and memberships in 28 exchanges.

In 1956, Merrill Lynch is selected as one of seven managers to bring Ford Motor Company public. The $600 million offering sets a record that lasts for nine years and gives the firm its first billion-dollar underwriting year. That same year, Charles E. Merrill passes away on October 6th at the age of 70.

In 1958, the firm changes its name from Merrill Lynch, Pierce, Fenner and Beane to Merrill Lynch, Pierce, Fenner & Smith, is incorporated and joins the board of the New York Stock Exchange.

In 1971, after years of planning, Merrill Lynch goes public, the second Big Board member to do so, but the first to have its shares listed on the exchange. That year, during a baseball World Series that saw the Pittsburgh Pirates edge out the Baltimore Orioles, Merrill Lynch introduces its "Merrill Lynch is bullish on America" ad campaign in a television commercial.

In 1973, to provide more flexibility, the firm becomes the first in the securities business to adopt a holding company format, with Merrill Lynch & Co., Inc. as the parent and Merrill Lynch, Pierce, Fenner & Smith as the operating subsidiary.

In 1974, symbolizing growth, strength, optimism and confidence, the Bull logo is introduced and becomes the trademark on which all of the financial service subsidiaries of Merrill Lynch & Co. will be identified. - from

This certificate is hand signed by Donald Regan as the company President. Donald Thomas Regan (December 21, 1918–June 10, 2003) was the 66th United States Secretary of the Treasury, from 1981 to 1985, and Chief of Staff from 1985 to 1987 in the Ronald Reagan Administration, where he advocated "Reaganomics" and tax cuts to create jobs and stimulate production. Regan was criticized for his Prime Ministerial style of working, for his involvement in the Iran-Contra Affair, and for his frequent disagreements with Ronald Reagan's wife, First Lady Nancy Reagan.

Regan joined Merrill Lynch & Co., Inc. in 1946, as an account executive trainee, working up through the ranks, eventually taking over as Merrill Lynch's chairman and CEO in 1971, the year the company went public. He held those positions until 1980.

Regan was one of the original directors of the Securities Investor Protection Corporation and was vice chairman of the New York Stock Exchange from 1973 to 1975. Regan was a major proponent of brokerage firms going public, which he viewed as an important step in the modernization of Wall Street; under his supervision, Merrill Lynch had its IPO on June 23, 1971, becoming only the second Wall Street firm to go public, after Donaldson, Lufkin & Jenrette.

During his tenure in these two positions, Regan also pushed hard for an end to minimum fixed commissions for brokers, which were fees that brokerage companies had to charge clients for every transaction they made on the clients' behalf; Regan saw them as a cartel-like restriction. In large part thanks to his lobbying, fixed commissions were abolished in 1975.

Certificate: Non-Voting Common Stock, issued in the 1960’s

Printer: American Bank Note Company

Dimensions: 8" (h) x 12” (w)

State: DE-Delaware

Subject Matter: Finance and Related | Famous Companies

Vignette Topic(s): None

Condition: Vertical fold lines, punch hole cancels in the signature areas and body, some toning and edge faults from age.

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