Merrill Lynch Base CaseBy Larry Barrett | Posted 2003-08-01 Email Print
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Merrill Lynch is investing up to $1 billion so it can reel in wealthier investors. Has it gone overboard?
Headquarters: 4 World Financial Center, New York, NY 10080
Phone: (212) 449-1000
Business: Financial services for private, institutional and government clients including mutual fund, insurance, annuity, trust and clearing services as well as traditional investment banking and brokerage services.
Chief Technology Officer, Private Client Group: Byron Vielehr
Financials in 2002: Net income of $2.5 billion on net sales of $18.6 billion.
Challenge: Replace aging wealth-management workstations used by more than 25,000 financial advisers worldwide.